Checkings refer to the amount of money present in a bank account that can be accessed easily by writing a check or making an electronic transaction. There are other terms that can be used interchangeably with checkings, such as current account, transaction account, or demand deposit account. These synonyms signify the same thing and are widely recognized in the banking industry. These accounts usually come with a limited number of free transactions or a specific minimum balance to avoid monthly maintenance fees. In some countries, checkings accounts provide a small amount of interest, but in other regions, they are usually non-interest bearing. Regardless of the terminology, checkings account serves as the backbone of one's financial transactions.