Why is it so important to have a checking account?

A. Without a checking account, you are unable to cash your paycheck or pay your taxes.
B. A checking account facilitates the rest of financial life by making your money available when and where you need it while also keeping
it safe.
C. Opening a checking account is the first step in building your credit history, which you will need
in order to receive loans, scholarships, and grants for college.
D. Opening a checking account is the only way to gain access to a savings account, which is
essential if you want to make money by investing.

Question

22-09-2021
Business

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Why is it so important to have a checking account?

A. Without a checking account, you are unable to cash your paycheck or pay your taxes.
B. A checking account facilitates the rest of financial life by making your money available when and where you need it while also keeping
it safe.
C. Opening a checking account is the first step in building your credit history, which you will need
in order to receive loans, scholarships, and grants for college.
D. Opening a checking account is the only way to gain access to a savings account, which is
essential if you want to make money by investing.

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Tundexi Tundexi · Answer 1 · 2021-09-29T19:40:20+02:00

Checking account makes one's money available when and where you need it while also keeping it safe.

Let first understand that Checking account is an account that facilitates easy withdrawal and deposit at any period of time while Saving account is an account used primarily for savings.

Usually, a saving account does not allow withdrawal until maturity period, but the Checking account is opposite because its an account that is made ready for withdrawal of money therein.

In conclusion, a debit card are issued with the Checking account to ensure your money is available when and where you need it.

Learn more about Checking account here

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