The difference is in what the account lets you do with your money
A checking account is built for moving money in and out frequently. You get a debit card, checks, and online transfers. You can withdraw cash at an ATM or the teller window as many times as you want, and there is no limit on how many times you can do it in a month. The bank expects you to use this account to pay bills, buy groceries, and handle everyday spending.
A savings account is built for keeping money set aside and earning interest on it. You can withdraw money, but the bank limits how many withdrawals you can make per month—often six, though this varies by bank. You typically do not get a debit card or checks. The tradeoff is that the bank pays you interest on the balance you keep there.
If you are not sure which one you have, the fastest way to find out is to log into your bank's website or app and look at your account list. The account name usually says "Checking" or "Savings" right there. If you have paper statements, the type is printed at the top.
Key Takeaways
- Checking accounts have no withdrawal limits and come with a debit card and checks; savings accounts limit withdrawals and earn interest instead.
- Your bank statement or online account dashboard will label your account type clearly at the top.
- If you cannot access your account online, call your bank's customer service line—they can tell you in under a minute.
- Some banks offer hybrid accounts that blend checking and savings features, so read your account agreement if the label is unclear.
Where to find the account type on your statement
Paper statements print the account type near the top, usually next to your account number. Look for a line that says "Account Type: Checking" or "Account Type: Savings." It is almost always in the header section before the transaction list begins.
If you have electronic statements, open the PDF and look at the first page in the same spot. The format is the same whether you receive paper or digital.
Older statements sometimes use different wording—you might see "Demand Deposit Account" (which is checking) or "Savings Deposit Account" (which is savings). If the language is unfamiliar, the account number itself sometimes carries a code. Call your bank and read them the account number; they will tell you the type immediately.
How to check your account type online or on your phone
Log into your bank's website or mobile app. Most banks show your account list on the dashboard or home screen. Each account will have a label next to it—"Checking," "Savings," "Money Market," or similar. Click or tap on the account name if you want to see more details.
If the label is missing or unclear, look for the account details or account information section. This is usually a link or button near the account name. The account type will be listed there along with your account number, routing number, and current balance.
Some banks organize accounts by type—all checking accounts in one section, all savings in another. If your bank does this, the section heading itself tells you what you are looking at.
What to look for if you have multiple accounts
Many people have both a checking and a savings account at the same bank. When you log in, you will see them listed separately. The checking account usually appears first and is labeled as such. The savings account will be listed below it with its own label.
If you have accounts at more than one bank, you will need to log into each bank separately to see what you have there. Write down the account type for each one so you do not have to look it up again later.
Some banks offer accounts with names like "High-Yield Savings," "Money Market Account," or "Premium Checking." These are variations on the basic types. High-yield savings is still a savings account (limited withdrawals, earns interest). Premium checking is still checking (unlimited withdrawals, debit card). The bank is just adding features or higher interest rates.
Calling your bank if you cannot find the information
If you do not have online access or cannot find the account type listed anywhere, call your bank's customer service number. This number is on your debit card, on old statements, or on the bank's website. Tell them your account number and ask what type of account it is.
You do not need to explain why you are asking. The representative will look it up in seconds and tell you. They may also ask if you want to change the account type—some banks charge a fee to switch, and some do it for free, so listen to what they say before you agree to anything.
If you have lost access to your account or forgotten your password, the bank can still tell you the account type over the phone. You will need to verify your identity first, usually by providing your Social Security number or answering security questions you set up when you opened the account.
Why the difference matters for how you use the account
Knowing your account type helps you understand what the bank will and will not let you do. If you have a savings account and you try to write a check, the check will bounce because savings accounts do not come with checks. If you have a checking account and you are expecting to earn interest, you will not—checking accounts typically pay little to no interest.
The withdrawal limit on savings accounts is important if you plan to move money frequently. Federal rules once capped savings withdrawals at six per month, but that rule changed. Many banks still enforce their own limits, though, so check your account agreement or ask your bank what the limit is on your specific account.
If you are using the wrong account type for your needs, your bank can usually switch you to a different one. Some switches are free; some have a small fee. It is worth asking before you open a new account elsewhere.
Frequently Asked Questions
Can I have both a checking and savings account at the same bank?
Yes. Most banks let you open multiple accounts of different types. You can link them together so money transfers between them easily. Having both gives you a place to spend from (checking) and a place to set money aside (savings).
What if my account does not say checking or savings?
Some banks use different names. A "Money Market Account" is a type of savings account with higher interest but lower withdrawal limits. A "NOW Account" or "Negotiable Order of Withdrawal" account is a type of checking account. Call your bank and ask what type it is, or read the account agreement that came with your account.
Does it matter which type I use to receive my tax refund?
No. The IRS will deposit your refund into either a checking or savings account. The bank does not care which type you use. If you want the money to sit and earn interest, use savings. If you want to spend it right away, checking works fine.
Can I switch from savings to checking without closing the account?
Yes. Call your bank or visit a branch and ask to convert the account. Some banks do this for free; others charge a small fee. The process usually takes a few minutes, and your account number stays the same.
Will switching account types affect my direct deposits or automatic payments?
No. Your account number and routing number stay the same when you switch types, so direct deposits and automatic payments will continue without interruption. You do not need to notify your employer or creditors.