Most online savings accounts do not come with check-writing ability
Online savings accounts are built to hold money safely and earn interest, not to move it around frequently. Banks restrict check-writing on savings accounts because federal law limits how many times per month you can withdraw funds from a savings account—historically six times, though this rule has loosened in recent years. A checking account, by contrast, has no withdrawal limit and is designed for regular transactions.
If your online bank offers check-writing on a savings account at all, it is rare and usually comes with conditions. Most online banks simply do not provide this feature. If you need to write checks regularly, you will need a checking account instead, either at the same bank or elsewhere.
Key Takeaways
- Online savings accounts typically do not include check-writing because federal rules limit how often you can withdraw from savings.
- If you need to write checks, open a checking account at your online bank or transfer money to a checking account before writing the check.
- Some online banks offer a hybrid account that combines savings and checking features, which may include limited check-writing.
- Transferring money from savings to checking takes one to three business days, so plan ahead if you need the funds quickly.
Why online banks restrict checks on savings accounts
Federal Regulation D historically capped withdrawals from savings accounts at six per month, including checks written against the account. While the Federal Reserve suspended this rule in 2020 and has not reinstated it, many banks kept the restriction in place anyway. Banks treat savings accounts as long-term holding accounts and discourage frequent movement of money.
Online banks in particular have lower overhead costs than brick-and-mortar banks, but they still structure accounts the same way: savings for storing money, checking for spending it. Offering check-writing on savings would blur that line and create operational complexity for the bank's systems.
How to write a check if your savings account does not support it
The simplest solution is to transfer money from your savings account to a checking account, then write the check from checking. If you have a checking account at the same online bank, you can move money between accounts instantly or within one business day, depending on the bank. Log into your account, select "Transfer," choose the amount, and confirm.
If you do not have a checking account yet, open one at your online bank. Most online banks offer free checking with no minimum balance. Once the account is open and verified, transfer the amount you need and write your check. The entire process takes a few days to a week if you are starting from scratch.
If you bank at a different institution for checking, you can still transfer from your online savings account, but it will take longer. Use an external transfer (sometimes called an ACH transfer), which typically takes one to three business days. Plan ahead if you need the money by a specific date.
Hybrid accounts that combine savings and checking features
Some online banks offer accounts that blur the line between savings and checking. These accounts may include a debit card, check-writing ability, and interest on your balance—features normally split between two separate accounts. Examples include money market accounts at some banks, which function partly like savings and partly like checking.
If check-writing is important to you, ask your bank whether they offer a hybrid account or a checking account that earns interest. Interest rates on checking accounts are usually lower than savings rates, but some online banks do pay a small rate on checking balances. This option lets you keep everything in one account without the transfer delay.
What happens if you write a check against a savings account that does not allow it
If you write a check on a savings account that does not support check-writing, the check will likely bounce. Your bank will return it unpaid and charge you a non-sufficient funds fee (usually $25 to $35). The person or business you wrote the check to will also be notified that it bounced, which can damage your reputation and may trigger additional fees on their end.
Some banks may also close your account if you repeatedly attempt to write checks against a savings account, treating it as a violation of the account terms. Always confirm that your account type supports checks before writing one.
Debit cards and online transfers as alternatives to checks
If you rarely write checks, consider whether a debit card or online transfer would work instead. Most online savings accounts come with a debit card linked to the account, which lets you spend money directly without writing a check. Online bill pay is another option—many banks let you pay bills directly from your savings account through their website, which counts as a withdrawal but does not require a physical check.
These methods are faster than checks and do not require a separate account. If the person or business you are paying does not accept cards or online transfers, then a check becomes necessary, and you will need to move the money to a checking account first.
Frequently Asked Questions
Can I write a check from my online savings account if I have enough money?
Having enough money does not matter—the issue is whether your account type supports checks. Online savings accounts are not designed for check-writing, regardless of your balance. You will need to transfer money to a checking account first or use a debit card instead.
How long does it take to transfer money from savings to checking so I can write a check?
Transfers between accounts at the same bank usually happen instantly or within one business day. External transfers to a different bank take one to three business days. If you need the money urgently, use an internal transfer at your current bank.
Do any online banks let you write checks directly from savings?
Most do not. Some banks offer money market accounts or hybrid accounts that include check-writing, but traditional online savings accounts do not. Check your bank's website or call customer service to see whether they offer any account type that combines savings features with check-writing.
What if I need to write a check right now and do not have a checking account?
Open a checking account at your online bank immediately—most take 10 to 15 minutes online. Once approved, transfer the amount you need from savings to checking. If the check is needed within hours, this may not work; consider asking the recipient whether they accept a debit card or bank transfer instead.
Will my bank charge me for writing a check on a savings account?
Your bank will not charge you for attempting it, but the check will bounce and you will face a non-sufficient funds fee of $25 to $35. The recipient may also charge you a returned check fee. It is cheaper to transfer money to checking first.