A checking account is a type of financial tool that offers everyday access to your money. These accounts typically come with personal checks and a debit card. And, there's no limit to how often you can use your money. You can withdraw, transfer, write checks, make debit card charges and deposit money as often as you'd like.
Virtually all banks and credit unions offer checking accounts. The accounts are typically quick to set up with a small deposit. However, they tend to have lower rates than savings and money market accounts — if they pay interest at all.
That said, checking accounts offer the same amount of safety.
Checking accounts, like savings and money market accounts, are insured up to $250,000 by the Federal Deposit Insurance Corp. (FDIC) at banks and up to the same amount at credit unions by the National Credit Union Association (NCUA).