Banking 101
What is a bank account?
A bank account is an arrangement with a bank that allows you to keep your money in the bank and to take some out when you need it.
What is a chequing account?
Chequing accounts are meant for daily use. To pay for your monthly expenses, to receive deposits from your employer, your friends.
What is a savings account?
A savings account is used to save money and they generate interest.