"Current" is another word for Checking, as it is called in the US. Savings account is an interest-bearing account with certain limitations. For example, in the US you cannot withdraw money from it more than 6 times a month. Here is the explanation why. read more
Although you can use your checking account as a reserve account for your cash, much like a savings account, it may not be the best option for that purpose. Most checking accounts do not earn interest, and even those that do typically earn less than a savings account at the same financial institution. read more
Actually, the grouping is not "Microsoft account vs. Administrator account". A user account can be any combination of a Microsoft vs. Local account and an Administrator vs. Standard account. read more