Checking account definition
/What is a Checking Account?
A checking account is a bank account from which funds can be withdrawn by writing a check. Funds can also be withdrawn from this account with an automated teller machine or via an electronic debit. This type of account pays little or no interest. However, depending on the institution at which a checking account is located, the federal government guarantees the deposited funds, up to a preset maximum level.
Checking Account Fees
The bank at which a checking account resides can impose a number of fees on the account holder. This can include a charge for each check cashed, an overdraft fee, and a charge to print additional checks. Banks tend to overcharge for the cost of printing additional checks, so a good cost-saving measure is to order them from an independent printing company, usually at a fraction of the cost.