What Is A Checking Account?
A checking account is provided by a bank as a safe place to keep money that you need to access on a regular basis. To access the money you place in a checking account, the bank gives you paper checks, which you use instead of cash to pay for things. When you write a check, the amount you write it for is then deducted from your checking account. There are many benefits to having a checking account.
• Let you pay for things without having to carry large amounts of cash
• Help you keep a record of what you have paid for and when
• Can be a great tool to help you manage your money
With the benefits of having a checking account come certain responsibilities as well.
Checking Accounts Require You To…
• Maintain a minimum balance (this amount varies by bank)
• Make sure you have enough money in your checking account to cover the checks
that you write
• Keep track of the checks that you write in a check register and compare it against
your monthly bank statement
A checking account is a convenient and easy way to safely store and easily access your money.