Question

A savings account pays interest and has fewer fees than a checking account

O True
O False

Answer 1

Savings accounts typically pay interest and have fewer fees compared to checking accounts.

Step-by-step explanation:

In general, a savings account does pay interest and has fewer fees than a checking account. Savings accounts are designed to help individuals save money for the future, and the interest earned on these accounts is a way for the bank to reward savers. On the other hand, checking accounts are primarily used for day-to-day transactions and may have more fees associated with them, such as ATM fees or overdraft fees.

Learn more about Comparison between savings and checking accounts