ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A checking account is a type of bank account that allows both withdrawals and deposits. These accounts can be accessed in several ways, including checks, debit cards, and ATMs and can be opened with no minimum deposit or for a small minimum deposit, depending on the type of account.

Detailed explanation-2: -Yes, writing a check to yourself is perfectly legal. You may be wondering why you would do this. Writing a check to yourself is another way to withdraw cash from your bank account or transfer money between accounts. To do this, you write your name on the payee line.

Detailed explanation-3: -Checking account: A checking account offers easy access to your money for your daily transactional needs and helps keep your cash secure. Customers can typically use a debit card or checks to make purchases or pay bills.

Detailed explanation-4: -A checking account is a deposit account held at a financial institution that allows withdrawals and deposits. Also called demand accounts or transactional accounts, checking accounts are very liquid and can be accessed using checks, automated teller machines (ATMs), and electronic debits, among other methods.

Detailed explanation-5: -Traditional Checking Account. A traditional checking account, also referred to as a standard or basic checking account, offers the ability to write checks. Premium Checking Account. Interest-Bearing Checking Account. Rewards Checking Account. Student Checking Account. Second Chance Checking Account. 02-Mar-2023