Traditional savings account write checks / pay bills directly

traditional savings account write checks / pay bills directly

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Why there are limits on limit the number of withdrawals platform to assist with portions higher yields than interest-bearing checking consider a money market account.

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With few exceptions, you can't spend money directly out of your savings account. Instead, money in savings needs to be moved to another account. You can write cheques, but you will often pay higher fees for writing them. High-interest rate savings accounts. You earn a greater amount of. The short answer is no.
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Still, these perks are often offset by minimum account requirements, balance maintenance thresholds, and other restrictions that make MMAs less flexible than savings and checking accounts. Plus, while MMAs offer high interest rates, these are often variable dependent on the market , so the amount you earn may differ significantly from month to month. This amount of interest may be less than what you would expect to see from your investment Investment An item of value you buy to get income or to grow in value. You may also pay a fee if you make withdrawals over the limit.