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Checking accounts are also insured by the FDIC, and most people wouldn't include their checking balance when asked about a "savings account"
by kd5bjo 11y ago
Checking accounts are also insured by the FDIC, and most people wouldn't include their checking balance when asked about a "savings account"
- deleted 11y ago[deleted]
- hugh4 11y agoI probably would, because I'm not sure I see the distinction. I'd also answer "none of your business" if asked.
- joshuacc 11y agoIn the US there is a legal distinction between savings accounts and checking accounts, which governs how many "convenient" transfers can be made to/from savings accounts, among other things. The question is specifically asking whether people have money in the legal "savings account" category, not whether they have savings in any random bank account.