The difference comes down to what the account is designed for
A checking account is built for spending. You get a debit card and checks, you can withdraw money as often as you want without penalty, and the bank expects you to move money in and out constantly. A savings account is built for storing money. It typically earns interest, has limits on how many withdrawals you can make per month, and is meant to sit relatively untouched.
The easiest way to know which one you have is to look at your bank statement or log into your online banking. The account name will say "Checking" or "Savings" right at the top. If you have both, they will be listed separately with different account numbers.
If you cannot find your statement or do not remember your login, call your bank's customer service number on the back of your debit card. They can tell you in under a minute what type of account you have and how many of each.
Key Takeaways
- Your bank statement or online account dashboard will show the account type and name at the top.
- Checking accounts come with a debit card and checks for frequent spending; savings accounts earn interest and limit withdrawals.
- If you cannot locate your statement, call the customer service number on your debit card and ask what type of account you hold.
- Many people have both types at the same bank, and each has a separate account number.
Where to find the account type on your statement
Open your most recent bank statement—either the paper version or the PDF you downloaded. At the very top, usually in large text, it will say something like "Checking Account" or "Savings Account." Next to that you will see your account number.
If you have multiple accounts, each statement will be separate, or your combined statement will list them one after another with the type clearly labeled. The account type also appears on the first page of any welcome materials the bank sent you when you opened the account.
Online banking makes this even simpler. Log into your bank's website or app, and your accounts will appear on the dashboard or home screen. Each one shows the type, the balance, and the account number without you having to search.
What to look for if you only have one account
If you have only one account, it is almost certainly a checking account. Banks typically open checking accounts as the default because most people need one for direct deposit and everyday spending. Savings accounts require a separate decision to open and are usually added later.
However, some banks do offer savings-only accounts, particularly online banks. If your statement shows no debit card, no check-writing option, and a withdrawal limit (often six per month), you likely have a savings account. The statement will also show an interest rate being paid to you, which checking accounts rarely do.
When in doubt, the account name on the statement is definitive. Trust what it says rather than guessing based on how you use it.
Why the difference matters for your money
Knowing which account you have affects how you should use it. A checking account is for money you need soon—your paycheck, your bills, your groceries. You should not expect it to earn much interest, and you should not worry about withdrawal limits because there usually are none.
A savings account is for money you want to keep separate and grow. It earns interest (though the rate varies by bank and by the current economy), and it has withdrawal limits to discourage you from dipping into it constantly. Some savings accounts limit you to six withdrawals per month; others have no limit but charge a fee if you exceed a certain number.
If you have both, the typical strategy is to keep your regular spending money in checking and move extra money into savings where it can earn interest and stay out of reach of everyday temptation.
How to check your account type online
Log into your bank's website or mobile app using your username and password. On the home screen or dashboard, you will see a list of your accounts. Each one will show the account type, the current balance, and the account number.
Some banks also let you click on an individual account to see more details, including the interest rate (if it is a savings account), any fees, and your transaction history. This is also where you can see withdrawal limits if they apply.
If you cannot remember your password, use the "Forgot Password" link on the login page. The bank will send you a reset link to your email or phone number on file. Once you are logged in, the account type is visible immediately—you do not need to dig through menus.
What to do if you cannot find your account information
Call the customer service number on the back of your debit card. This is the fastest way to get an answer. Tell the representative you want to know what type of account you have, and they will pull it up in seconds. They may ask for your account number or the last four digits of your Social Security number to verify your identity.
If you do not have a debit card, find your bank's main phone number on their website or on any mail they have sent you. Customer service is usually available during business hours and sometimes 24/7.
You can also visit a branch in person with a photo ID. A teller can print out your account information on the spot and answer any questions about how your account works.
Frequently Asked Questions
Can I change my checking account to a savings account?
No, you cannot convert one type to the other. However, you can open a new savings account at the same bank and transfer your money there. You would then close the old checking account if you no longer need it. Most banks let you open a new account online in minutes.
Do I need both a checking and savings account?
No. Many people use only a checking account for all their money. A savings account is useful if you want to earn interest on money you are not spending soon, or if you want a separate account to make it harder to spend your emergency fund. It is not required.
Will my account type affect my credit score?
No. Checking and savings accounts do not appear on your credit report and do not affect your credit score. Only credit accounts—credit cards, loans, lines of credit—show up on your credit history.
What if my bank calls my account something different, like "Money Market" or "NOW Account"?
These are variations on the basic types. A Money Market account is a hybrid that acts like a savings account but may offer a debit card. A NOW Account (Negotiable Order of Withdrawal) is an older type that works like a checking account but earns interest. Your bank statement will explain what features yours has.