Respuesta :

afsharapriana

Answer:

A checking account is a type of bank deposit account that is designed for everyday money transactions. ... Savings accounts have higher interest rates than checking accounts, meaning it is better to let large sums of money (e.g., an emergency fund) sit in savings instead of checking.

Explanation:

Checking accounts are better for everyday transactions such as purchases, bill payments and ATM withdrawals. ... Savings accounts are better for storing money and earning interest, and because of that, you might have a monthly limit on what you can withdraw without paying a fee.

chilljain33

A savings account is better than a checking account as it offers a potentially higher rate of interest for the customer.

What is a savings account?

The most basic type of bank account in which a customer deposits his or her money, with an intention to earn monetary gains and safekeeping of his or her funds, is known as a savings account.

A checking account is ideal for someone who conducts numerous transactions on a daily basis. It also offers a lower rate of interest as compared to a savings account.

Hence, the significance of a savings account is aforementioned.

Learn more about a savings account here:

https://brainly.com/question/3811440

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