Savings or Current account?

Heatman

Heatman

Active member
Savings and Current account is the main type of bank account customers are allowed to operate in most banks in my country. I'm not sure if it's the same thing all over the world but it's the basis for us. There's a fixed deposit account too but this is used by those who want to save their money for a specific time in order to get higher savings interest.

What kind of bank account are you operating?
 
Heatman said:
Savings and Current account is the main type of bank account customers are allowed to operate in most banks in my country. I'm not sure if it's the same thing all over the world but it's the basis for us. There's a fixed deposit account too but this is used by those who want to save their money for a specific time in order to get higher savings interest.

What kind of bank account are you operating?
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What country are you from? In the states we call them Checking & Savings (and have a variety of other accounts, third most popular being Money Market accounts which have better interest, but restrict the amount of outgoing transactions per month).
 
I am more of someone who makes use of the savings account because I run a mini business that doesn't need me withdrawing huge sums. So, the savings account is perfect for my daily business needs, and that is one thing that I enjoy doing instead of opening a current account and not using it often times.
 
We have Checking & Savings here in the USA. I am not familiar with the term Current Account.
Checking is used for bills while Savings is to put money in to save for that proverbial rainy day.
 
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