One could argue that selecting an account with minimal fees is more important than selecting a savings account based on interest rate right now. Why might this be true?

A checking account is a bank account you can write checks from, or access several other ways, which tends to make it your go-to, daily transaction bank account. A savings account is where you stash funds that you aren't ready to use yet, often with the goal of accumulating more.

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Tundexi Tundexi · Answer 2 · 2021-10-07T13:54:58+02:00

Saving account are bank account which are used the for benefit of interest accrued on capital being saved therein.

However, there are operation charges on the saving account which might deplete the real amount of interest been accrued.

Using a checking account have no or minimal fee, so they are seen as alternative to saving account because of charges.

In conclusion, people might prefer checking account over saving account during this period because interest rate on saving rate are low which will might make operation charges deduct from interest amount till negative.

Learn more about Checking & Saving account here

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