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Types of Checking Accounts

Basic Checking Accounts
Basic Checking Accounts

The offer begins on May 1, 2018 and expires on June 29, 2018. The offer is available to new Capital One Business Checking account customers. To qualify, you must open a new Spark Basic or Unlimited Checking account before the offer expires. Financial institutions are not eligible for this offer.

Brokerage Accounts
Brokerage Accounts

A brokerage account is an investment account. Once you’ve deposited money into a brokerage account, you can use that money to buy investments like stocks, bonds and mutual funds. You can open a brokerage account at an online broker.

CD's
CD's

A certificate of deposit, or CD, is a type of savings vehicle in which people leave money in the bank for a set number of months or years. That’s called the term length — and the longer the term, the better the interest rate will be.

Certificates of Deposit (CDs)
Certificates of Deposit (CDs)

Definition: A CD, or certificate of deposit, is a savings account that has a fixed interest rate and fixed date of withdrawal, known as the maturity date. CDs also typically don’t have monthly fees.

Interest Bearing Checking Accounts
Interest Bearing Checking Accounts

An interest-bearing checking account is like a mix between a savings and checking account. This type of account allows you to earn interest on easily accessible cash. This type of account allows you to earn interest on easily accessible cash.

IRAs (Investment Retirement Accounts)
IRAs (Investment Retirement Accounts)

A savings account is an all-inclusive term, which includes individual retirement accounts (IRAs) and regular (non-retirement) savings. A Roth IRA is a retirement savings account in which earnings accrue on a tax-deferred basis, but are tax free if distributions are qualified.

Money Market Accounts
Money Market Accounts

A Money Market Account (MMA) is a savings account that typically has a higher interest rate than traditional savings accounts but may require larger minimum deposits and balances. A money market account allows a limited number of checks to be drawn from the account monthly.

source: bankrate.com
Money Market Deposit Accounts (MMDAs)
Money Market Deposit Accounts (MMDAs)

A money market account thus offers the account holder benefits typical of both savings and checking accounts. This type of account is likely to require a higher balance than a savings account and is Federal Deposit Insurance Corporation (FDIC) insured.

Savings Accounts
Savings Accounts

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. The fees and other criteria for checking and savings accounts — such as monthly account maintenance fees, minimum account balances, and interest rates — vary slightly from one bank to another.

source: diffen.com