A checking account is an account that allows you to deposit and withdraw money, offering everyday access to your money. There is no limit to how often you can access your money. You can use a checking account to pay bills, make purchases, and manage your daily financial transactions.
You can open a checking account at brick-and-mortar banks, credit unions and online. Online checking accounts are becoming more popular as they tend to offer better terms and even earn some interest. Many banks offer checking accounts with debit cards for easier access to funds. Plus, in addition to opening a bank account online, you can manage it online or via a mobile app.
Checking accounts also offer a good level of safety. They can be federally insured to at least $250,000 by the Federal Deposit Insurance Corp. (FDIC) or by the National Credit Union Share Insurance Fund, depending on whether the checking account is offered by bank or credit union.
