interest<\/a> on the account balance.<\/span><\/p>\nChecking accounts often incorporate security features to protect against unauthorised transactions. Account holders are typically protected by fraud monitoring, and many banks offer zero-liability policies for unauthorised transactions.<\/span><\/p>\nExample of checking account<\/h3>\n
John Doe opens a checking account at ABC Bank to manage his day-to-day financial transactions.<\/p>\n
\n- Initial deposit:<\/strong>\n
\n- To activate the checking account, John makes an initial deposit of $500. This amount is the opening balance in his checking account.<\/li>\n<\/ul>\n<\/li>\n
- Direct deposit:<\/strong>\n
\n- John sets up direct deposit with his employer, so his monthly salary of $2,500 is directly credited to his checking account.<\/li>\n<\/ul>\n<\/li>\n
- ATM withdrawals:<\/strong>\n
\n- John occasionally withdraws cash from ATMs using his debit card when needed. The withdrawn amount is deducted from his checking account balance.<\/li>\n<\/ul>\n<\/li>\n
- Online banking:<\/strong>\n
\n- John uses online banking to check his account balance, review transactions, and transfer funds between his checking and savings accounts.<\/li>\n<\/ul>\n<\/li>\n
- Overdraft protection:<\/strong>\n
\n- To avoid overdrafts, John opts for overdraft protection linked to his savings account. If his checking account balance falls below a certain threshold, funds are automatically transferred from his savings account to cover the shortfall.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n","protected":false},"author":88,"template":"","acf":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable":"
Definition A checking account is a financial account held at a bank or credit union that is designed for everyday transactions and easy access to funds. What is a checking account? A checking account allows account holders to deposit money, make withdrawals, write checks, and conduct various electronic transactions. It serves as a central hub for managing day-to-day financial activities. Deposits and withdrawals: Deposits: Account holders can deposit money into their checking accounts through various methods, such as cash, checks, direct deposits, or electronic transfers. Withdrawals: Funds can be withdrawn from a checking account using methods such as checks, ATM…<\/p>\n","category_list":"","author_info":{"name":"AI","url":"https:\/\/swoopfunding.com\/us\/author\/artificial-intelligence\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"
Definition A checking account is a financial account held at a bank or credit union that is designed for everyday transactions and easy access to funds. What is a checking account? A checking account allows account holders to deposit money, make withdrawals, write checks, and conduct various electronic transactions. It serves as a central hub for managing day-to-day financial activities. Deposits and withdrawals: Deposits: Account holders can deposit money into their checking accounts through various methods, such as cash, checks, direct deposits, or electronic transfers. Withdrawals: Funds can be withdrawn from a checking account using methods such as checks, ATM…<\/p>\n","category_list_v2":"","author_info_v2":{"name":"AI","url":"https:\/\/swoopfunding.com\/us\/author\/artificial-intelligence\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/business-glossary\/25155"}],"collection":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/business-glossary"}],"about":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/types\/business-glossary"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/users\/88"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/media?parent=25155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}