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What is the difference between a savings account and a checking account? (Select all that apply.)

Savings accounts pay higher interest than checking accounts.

Deposits in savings accounts, not checking accounts, are used by a bank to invest.

Savings accounts have more restrictions than checking accounts.

Savings accounts are covered more by the FDIC than checking accounts.

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A checking account is a bank account you can write checks from, or access several other ways, which tends to make it your go-to, daily transaction bank account. A savings account is where you stash funds that you aren't ready to use yet, often with the goal of accumulating more.

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