What are the differences between checking accounts and savings accounts
Do you want to open an account in the Cashier? Before taking your documents to the agency and entering the process, it is important to know the characteristics and differences between the two main products offered by the bank: the checking account and the savings account. Learn all about accounts:
What is and how does the checking account work in the Cashier?
Cash’s current account allows for internet and cellular access. When contracting the product it is possible to register accounts for automatic debit, receive deposits, make withdrawals, make transfers, TEC, DOC and invest through financial investments in either investment funds or fixed income. Caixa’s account holder is still entitled to check stubs, which can be requested at the branches, by telephone, ATM or Internet banking. With this account model, borrowing and home equity financing are also done more easily. Unlike the savings account, which does not charge any kind of fee, when opening a checking account you need to hire a basket of services and pay a fee for it. The amount varies according to the characteristics and services that each basket offers. The more services and facilities, the higher the amount charged. Easy Basket Box,
What is and how does the savings account work in the Cashier?
Unlike the checking account, the savings account does not require payment of a fee for contracting a basket of services. In addition, the funds that are stored in the savings account of the Savings Bank are remunerated at an interest rate of 0.5% per month. This rate is applied in amounts updated by the TR (Referential Rate). There is no discount of the Income Tax and IOF and the proceeds are credited every month, on the anniversary date, in the savings account. There is no limit for applying to the savings account of the Cash, as well as not limiting to redemption. Because no fee is charged, this mode of account does not have some features offered by the current account, such as check withdrawal and credit limit, as a check.
Which is the best option for you?
To decide which one is the best option for you it is important to evaluate which type of account is best for your needs. Whoever wants to open an account to make purchases, receive money, make transfers and make payments can benefit more from a checking account. On the other hand, anyone who wants to raise money, can benefit more from the savings account, which does not charge any kind of fee and, still, has income. If you want to have access to all your current account services, but still want to start saving money, you can use the integrated savings feature offered by Caixa’s current account (and also other banks). With it, you can make redemptions and applications from your checking account without having to open a savings just for this purpose.