How Many Bank Accounts Should I Have?

2. Savings accounts

Savings accounts come in various shapes and forms. As you go through your search, you’ll likely come across the following:

– Regular savings account

This is the most basic account you can have to store your savings. This type of account will typically be offered by a bank or a credit union and will allow you to park some funds in the account, earn a little interest and withdraw the money when the need arises.

Savings accounts sometimes come with restrictions such as a limit to the number of withdrawals you can make. However, other types of savings accounts exist which may work better for your needs.