Respuesta :
The answer is "Checking accounts allow used checks to act as receipts".
A checking account refers to a deposit account held at a financial foundation that permits withdrawals and stores. Additionally called interest accounts or value-based records, financial records are exceptionally fluid and can be gotten to utilizing checks, robotized teller machines and electronic charges, among different strategies. A checking account varies from other ledgers in that it regularly takes into account various withdrawals and boundless stores, while bank accounts at times limit both.
An advantage unique to checking accounts is the fact that checking accounts allow used checks to act as receipts.
Further Explanation:
Types of back accounts
Checking accounts
- They are accounts that provide the account holder with a basic account for the purposes of; depositing checks, making withdrawals and paying bills.
- The key feature of these accounts is the paper checks. The accounts are convenient for individuals intending to deposit a paycheck or cash.
Money market accounts
- They are accounts that earn more interest compared to both savings and checking accounts but combines the features of the two accounts.
Certificate of Deposit
- It is a type of account that allows an account holder to earn more interest compared to any other account.
- However, the account holder has to commit to keeping his/her money in the account for a specified period of time.
Savings accounts
- They are normally the first account one opens with any financial institution. Its main purpose is to encourage a saving habit among individuals, kids, teenagers and even adults.
- They are good for any individual who looks to save cash or earn extra cash.
Retirement accounts
- They are types of accounts meant for saving for one’s future.
- These accounts make it easier to save money, and may result to larger account balances in the long term.
Keywords: Types of bank accounts, checking accounts
Learn more about:
- Checking accounts: https://brainly.com/question/8245649
- Advantages of checking accounts: https://brainly.com/question/13022818
- Draw backs of checking accounts: https://brainly.com/question/8866906
Level: High school
Subject: Business
Topic: Financial institutions
Sub-topic: Types of bank accounts
