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|This article is a part of Wikinvest's Personal Finance section and Guide to Investing. Please contribute or edit to improve it.|
A checking account is a transactional account or demand deposit account maintained for routine deposits and withdrawals. Money held in a checking account is more liquid that that in a savings account and can be withdrawn via checks, ATMs and electronic debits. Checking accounts generally pay lower rates of interest than savings accounts and are offered by banks for a minimal or no fee at all.