A checking account is where you hold money at a bank, credit union or other financial institution. You typically use this account to pay for everyday expenses or bills. Depending on where you have you bank, you can access your cash in person, or via an ATM or debit card. Unlike a savings account — which you use for an emergency fund or other financial goal — checking accounts should be fairly accessible for regular spending usually with a debit card. They don't normally accrue interest.