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.
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.
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.
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 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.