Checking Accounts

Checking accounts

Checking accounts are meant for transactions, not savings. That's why many don't pay much, if any, interest. However, these days combine the conveniences of checking with the return of a money market account. Also, as "asset management" accounts at brokerages become more popular, offering unlimited check writing, ATM access, and money market rates -- more folks are by-passing the banks in favor of brokers. A word of caution here, be sure that you understand your brokers fee schedule before you sign the agreement.