Difference between Savings and Checkings Account?

[themanwhocantbemoved]

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Guys, amo salary sa amo company ba kay i pada ra sa ako BDO cash card, then nag wodner lng ko unsa ning savings ug checkings account nga permi ko pa pilion each time mg withdraw ko sa ATM, then nag research ko, savings daw kay kanang naa limit withdrawals monthly then naa sd interest, then ang checkings wala tann. So cge kog widthraw ani? naa nako bayranan kay savings man permi ako pilion. Enligthen me please. thanks

[kenshin2143]

Based sa akong nabasahan ang savings account is literally for savings. Most often, related ang savings account sa deposit transactions kay savings lang lage, that's the reason nganung naa siyay interest... Naa pud limit sa withdrawals kay again, nag savings account ka for the purpose of saving, not spending... As for the checking account, ideal ni siya sa business kay walay limit ang number of withdrawals. Sa business man gud, halos every now and then naga transact jud na, either deposit or withdrawal so need nimo ug account for business like the checking account. Usually mas dako maintaining balance sa checking account and walay withdrawal fee, pero if mag baba sa maintaining balance imong kwarta, diha nag mag sulod ang fees.

[cebulifer]

the two types of accounts have a maintaining balance. I don't think savings have any withdrawal limit. But maybe you have an atm account. but there is no limit if you have a passbook savings account.

the checking or current account has a higher maintaining balance. the bank gives you a booklet of checks. usually used for business. the advantage with the checking account is that you can issue a check even if you still don't have the amount. Post dated checks (PDC). But be very sure that you have the necessary funds when the check is due or you can be sued for Bouncing Checks.

[gerrynelmida]

They both earn interest, ang savings piso, ang checking centsvo