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Jayden
How are checking account, current account, deposit account and savings account different? Thanks.
17 авг. 2019 г., 13:21
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Answers · 3
Here's a very rough guide: A checking account (American English) is more or less the same as a current account (British English). It gives you easy access to your money and is for day-to-day use. A deposit account (a slightly outdated British English term) and a savings account (understandable everywhere) is not for daily use. You put money in this kind of account and generally leave it there to earn interest.
17 августа 2019 г.
Hi Jayden, In American English, a “checking account” is the main account ordinary workers use to keep their income to pay bills and other spending. The name comes from the history of checks used by employers to put income into this account (paychecks) and written by the workers to withdraw the money for their bills. A “savings account” is used to hold the money workers set aside for their savings (the money they set aside and choose not to spend). “Current account” and “deposit account” are not common terms in American English.
17 августа 2019 г.
1) checking account is a special account for bussineses or people like students, it gives them access and liquidity to funds that are greater than a normal deposit account that will have limitations on the withdrawals usually set a a daily limit. CHECKING ACCONT https://www.investopedia.com/terms/c/checkingaccount.asp Current account is an account where you can pay in cheques and have automated payments out of you bank "direct debits" in the UK Deposit account you can only deposit Savings account you can only save money in them and often withdrawals are limited. Banks are very competitive and there is often some overlap on what the various banks will offer for each account, so that an account might offer the same as a different account elsewhere from another bank. A savings or deposit account from one bank may offer some of the services of a checking account elsewhere but the accounts other available services in that account may be limited, you gain on one hand and loose in the other.
17 августа 2019 г.
Jayden
Language Skills
Chinese (Mandarin), English
Learning Language
English