Checking accounts are usually considered a temporary resting place for funds that will be used to pay current bills or other obligations. They are also used for paying shopping expenses instead of using cash. Oftentimes, people funnel all their income and payments through a checking account, transferring extra funds to and from a savings account or other investment account as funds are needed.
Although some checking accounts pay relatively small amounts of interest, funds are normally not left in checking accounts to create income. Checking accounts also provide convenience for bill paying and for documenting that payments have been made.
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Checking accounts are usually considered a temporary resting place for funds that will be used to pay current bills or other obligations. They are also used for paying shopping expenses instead of using cash. Oftentimes, people funnel all their income and payments through a checking account, 