A checking account is generally your go-to, daily transaction bank account used for making payments. The most common form of payments has historically been paper checks, but nowadays you can make payments via electronic wire transfers or with a debit card that links to the account.
A savings account is meant to keep money safe that you don’t immediately plan to spend. There are federally-regulated standards to limit consumers to making only six withdrawals or transactions from their savings account every month. Savings accounts don’t usually come with checks or debit cards, though they still have a routing number that you can use to send or receive money electronically. If you use your account’s routing number for bill payments, it will count toward your six-withdrawal limit.
If you are unsure whether your account is a checking or savings account, the best thing to do is to call your bank to verify.
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Why does Circa need my bank account information?