Types of Checking Accounts | TD Bank (2024)

FAQs

What are the 3 main checking accounts? ›

Traditional Checking Account

A traditional checking account is the most common bank account you'll encounter. It provides basic functionality for everyday banking needs. With a traditional checking account, you typically have access to services including check writing, a debit card and online banking.

The different types of checking accounts include student accounts, premium accounts, basic accounts, senior accounts, business accounts, rewards accounts, and interest accounts.

There are five main account type categories that all transactions can fall into on a standard COA. These are asset accounts, liability accounts, equity accounts, revenue accounts, and expense accounts. These categories are universal to all businesses.

You can see on your Passbook. Or you can recognize it by account number. If it is YOUR account, you can check the passbook or ask the bank staff and they will tell you… If you get interest credited to your account periodically, it is a Savings Bank Account.

Checking accounts are best for day-to-day financial tasks such as making purchases and paying bills. They come with a debit card for spending, and checking account owners can typically make mobile check deposits, ATM transactions, peer-to-peer payments and more with their account.

3 Different types of accounts in accounting are Real, Personal and Nominal Account. Real account is then classified in two subcategories – Intangible real account, Tangible real account. Also, three different sub-types of Personal account are Natural, Representative and Artificial.

What are the 3 different accounts? ›

Personal, real, and nominal accounts are the three types of accounts in accounting. In the first case, personal accounts deal with persons and entities primarily; real accounts show property and liabilities of a business; and lastly, nominal accounts record events about income, expenses, gains, and losses.

Not only will having separate accounts make it easier to quickly see how close you are to your goal, but you'll also be able to access the funds when you need them without worrying about taking money away from your other goals. There's no hard and fast rule about how many checking accounts any one person should have.