Bank Checking & Savings Accounts
A transaction account, checking account, or demand deposit account is a deposit account held at a bank or other financial institution which is available to the account owner “on demand” and is available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of cheques and debit by electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds.
Transaction accounts are generally used for the business or personal convenience of the account holder. They normally do not earn any or a high interest and the financial institution that maintains the account commonly charges account maintenance or transaction fees to the account holder.
Saving accounts (UK: savings accounts) are accounts maintained by retail financial institutions that pay interestbut cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing acheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and, in some jurisdictions, does not incur a reserve requirement. Cash in the bank’s vaults may thus be used, for example, to fund interest-payingloans.
The other major types of deposit account are the transactional account (usually known as a “checking” (US) or “current” (UK) account), money market account and time deposit.
Scottsbluff
Scottsbluff is a city in Scotts Bluff County, in the western part of the state of Nebraska, in the Great Plains region of the United States. The population was 15,039 at the 2010 census. Scottsbluff is the largest city in the Nebraska Panhandle, and the 13th largest city in Nebraska.
Scottsbluff was founded in 1899 across the North Platte River from its namesake, a bluff that is now a U.S. National Park called Scotts Bluff National Monument. The smaller town of Gering had been founded south of the river in 1887. The two cities have since grown together to form the 7th largest urban area (Scottsbluff Micropolitan Statistical Area) in Nebraska.