A checking account is typically used to deposit, hold, and access money needed for daily and recurring expenses. So, for example, a monthly paycheck is deposited, and portions of that money are accessed via check, ATM, debit transactions, etc., to pay for groceries, rent, bills, and other living expenses. By contrast, savings accounts are for holding money that you want to grow over time with interest. Accordingly, savings accounts may limit the number of withdrawals you can make each month; checking accounts don't typically limit the number of transactions.