A checking account is a deposit account that allows you to easily make withdrawals, deposits and fund transfers. It is also called a demand account or transactional account. Checking accounts can be accessed using checks, automated teller machines (ATMs), and electronic debits, among other methods¹. Checking accounts typically don’t provide much, if any, interest. Checking accounts can have fees, such as overdraft fees. Money in a checking account is typically insured for up to $250,000 by the Federal Deposit Insurance Corp. (FDIC)².
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