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Choosing a bank and opening a bank account is one of the most basic but most important financial decisions you will need to make. When you go to the bank to open your account, the first question they'll probably ask you is: Checking or Savings?

Both checking and savings accounts are insured by the Federal Deposit Insurance Corporation (FDIC), and provide a way to keep your money safe until you need to access it. However, the accounts meet different types of financial needs and are not interchangeable.

Most banks and credit unions offer a variety of options for both types of accounts, which typically come with different benefits, requirements, and fees, so you will need to shop around to decide which option(s) might be the best fit for you.

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