A checking account is a type of bank account that allows the account holder to deposit and withdraw funds as needed. It is also known as a transactional account because it is primarily used for transactions such as paying bills, making purchases, and withdrawing cash.

When opening a checking account, the account holder typically receives a debit card that can be used to make purchases or withdraw cash from an ATM. The account holder can also write checks, which are paper documents that authorize the transfer of funds from the account to the recipient of the check.

Checking accounts usually require a minimum balance to be maintained and may also have fees associated with them. These fees may include monthly maintenance fees, overdraft fees, and ATM fees.