A checking account is a bank account designed for frequent everyday transactions and usually includes payment access.
In the United States, this account is commonly called a checking account; in many other English-speaking countries, it is called a current account. Customers typically use it for receiving wages, paying bills, making debit-card purchases, and withdrawing cash. Unlike savings accounts, checking accounts are built around regular payments rather than primarily holding money for longer-term saving.
Checking accounts may offer paper checks, debit cards, electronic transfers, direct deposit, and online bill payment. Some accounts charge monthly maintenance fees, while others waive them if the customer meets conditions such as maintaining a minimum balance or receiving direct deposits. A checking account can also provide overdraft services, although those may involve fees or interest.
A checking account is not the same as a certificate of deposit, which generally restricts withdrawals for a set term. It also differs from a money market account, which may combine interest earnings with limited transaction access.