Checking account and savings account offers various flexibilities in managing your money. Savings account is where you put your money and if you don't touch it your money will grow based on the interest prescribed by the bank. on the other hand checking account is where you keep your money and where various transactions are being charged. Some transactions may include bill payments, ATM withdrawals, check and many others. Savings account is usually allocated for future purposes while checking accounts are so volatile that you can't expect how much money you may have after all the transactions.