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Q.

What is difference between checking account and saving account?

Tags: money, education, checking account
Asked by Pinky, 22 Jul '10 05:22 pm
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Answers (2)

1.

A checking account is a service provided by a financial institution that allows accountholders to deposit and withdraw money from a federally protected account. This account allows the use of a debit card and/or checks, and there are generally no restrictions on the number of deposits and withdrawals that can be made.
Savings accounts are meant to help you save money, hence the name. Therefore, they come with limits, balance requirements, and excessive withdrawal penalties.
Answered by beena john, 22 Jul '10 05:25 pm

 
  
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2.

Checking account means checking balance in account :D
and saving account is type of bank account in bank :D
Answered by Redif User, 22 Jul '10 05:23 pm

 
  
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