What is a Savings Account?

Savings account a deposit account opened at a bank or at another financial institution. As cash being the most liquid asset savings account come in close second. There are many different savings accounts in use today, for example some have the perk of writing checks with out any concern of extra fees. Also most of the accounts disable the ability of transferring money to other accounts, and they also limit the number of transfers what a person can make. Savings accounts usually pay less interest then any other investment like treasury bills and such. It's not a good idea to use it as a long term investment. Now days you can access the saving account through INTERNET or even through an ATM.