MANILA - When it comes to savings, a bank account is the first thing that comes to mind.

Are we really clear about the types of bank accounts like savings accounts and checking accounts? Since both accounts can serve the purpose of depositing and storing money, are there any differences between them that are worth mentioning?

The first question posed to you when you plan on opening a bank account is whether you’d like a savings or a checking account. It’s important to be aware of the differences that they serve, especially when it comes to your portfolio.

Here’s a look at the differences:

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