What is a Checking Account? (Explained!)

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The Simple Dollar
Published at : 22 Dec 2020
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➡ Best Checking Accounts - https://www.thesimpledollar.com/banking/checking-and-savings/best-checking-accounts/?utm_source=youtube&utm_medium=video&utm_campaign=banking&utm_content=JEhZOFedPL8

➡ Best Savings Accounts - https://www.thesimpledollar.com/banking/checking-and-savings/best-high-interest-savings-accounts/?utm_source=youtube&utm_medium=video&utm_campaign=banking&utm_content=JEhZOFedPL8


What is a checking account? That is the topic of this video. Vincent not only explains what a checking account is, but also the main pro's and con's of this type of banking account. We've also done videos about CD vs savings account vs checking account, etc. In simple terms, a checking account is a safe place to store money that you need to access frequently.

Checking Accounts vs Savings Accounts:
The main difference here is that checking accounts are meant to be used regularly, while a savings account has certain limits on withdrawal amounts and frequencies. You should think of a savings account as a safe place to keep money that you don't need right away and you want to earn (a little) more interest.

Video Host - Vincent Chan:
https://www.youtube.com/channel/UCPa0bvFsR1mbBpk5mIPFGLA



∎ RELATED CONTENT ∎
What Is A Checking Account?
https://www.thesimpledollar.com/banking/checking-and-savings/what-is-a-checking-account/?utm_source=youtube&utm_medium=video&utm_campaign=banking&utm_content=JEhZOFedPL8

Best CD Rates:
https://www.thesimpledollar.com/banking/cd/best-cd-rates/?utm_source=youtube&utm_medium=video&utm_campaign=banking&utm_content=JEhZOFedPL8

The Best Banks:
https://www.thesimpledollar.com/banking/best-bank/?utm_source=youtube&utm_medium=video&utm_campaign=banking&utm_content=JEhZOFedPL8

How Does A Bank Work?
https://www.thesimpledollar.com/banking/blog/personal-finance-101-how-does-a-bank-work/?utm_source=youtube&utm_medium=video&utm_campaign=banking&utm_content=JEhZOFedPL8

What Do You Need to Open a Bank Account?
https://www.thesimpledollar.com/banking/what-do-i-need-to-open-a-bank-account/?utm_source=youtube&utm_medium=video&utm_campaign=banking&utm_content=JEhZOFedPL8

Savings Accounts vs. CDs vs. Money Market Mutual Funds:
https://www.thesimpledollar.com/banking/blog/savings-accounts-vs-cds-money-market-mutual-funds/?utm_source=youtube&utm_medium=video&utm_campaign=banking&utm_content=JEhZOFedPL8



∎ CONNECT WITH US ∎
Website: https://www.thesimpledollar.com/?utm_source=youtube&utm_medium=video&utm_campaign=banking&utm_content=JEhZOFedPL8
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Twitter: https://twitter.com/TheSimpleDollar



∎ TIME STAMPS ∎
0:00 - Checking Account Overview
0:40 - Deposits & Withdrawals
1:30 - Checking vs Savings Account
2:57 - Fees
4:48 - Final Notes


∎ CREDITS ∎
Much of the footage in this video has been provided by Storyblocks and Getty Images.
what is a checking accountchecking accountchecking account vs savings account

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