1
vote
2answers
109 views

Do I need to pay tax on the amount of savings I have in the bank?

Do I need to pay tax for the amount which I have in the bank? If so, what's the tax percentage for a savings account and a current account?
1
vote
4answers
765 views

What's the purpose of having separate checking and savings accounts?

It's a simple question, but I'm having trouble finding an answer: What's the purpose of having separate checking and savings accounts? What benefits does it provide?
2
votes
1answer
330 views

Are there any alternatives to ING's Electric Orange that have similar features?

I currently utilize ING Direct for savings and checking via Electric Orange and Orange savings accounts. However, two features of their bank have stopped me from truly utilizing their services to the ...
6
votes
2answers
783 views

Common practice to closing a checking and savings account?

Is there a common practice to closing a checking & savings account? For example, should I transfer all the funds electronically to my other bank then call and close it or is it better to get a ...
2
votes
1answer
85 views

Difference between clearing a check and hold on funds

Quick question on banking terminology: Can a check deposited in a U.S. bank clear, but still have the funds be subject to a hold? Or are clearing and not having a hold the same thing?
2
votes
2answers
4k views

What's the difference between a Chequing account and a Savings account?

Because I know you can draw cheques from a savings account, so what gives?