Checking accounts are financial tools that help you with short-term needs and everyday transactions. These accounts usually come with a debit card for payments, purchases, and ATM withdrawals.  They’re best suited for daily use, as they have fewer restrictions on withdrawals than savings accounts (but your bank may still put a limit on your daily debit card and ATM spends). More and more banks are now offering interest-bearing checking accounts, although these rates are considerably lower than for savings accounts. Your bank may also charge a monthly fee to keep your checking account running—or require you to have a specific balance in the account to waive the fee.