Bank Accounts

Checking

A checking account is a type of financial service that provides a place for individuals to deposit money and generally withdraw funds at any time. Checking accounts are insured by the FDIC to the maximum amount permitted by law. Checking accounts allow you to write checks to pay debts or use ATM/Debit cards to make purchases, cash withdrawals and online payments for services rendered.

Scottrade Bank offers two types of checking accounts: standard checking (no interest) and interest checking. Both checking account types are available for a minimum deposit of $100, but you are required to maintain the $100 balance in order to accrue and be paid interest in an interest checking account. No interest is accrued or paid in a standard checking account.

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For information on the withdrawal or deposit of funds to one of your Scottrade Bank checking accounts, visit the Knowledge Center.

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The information and content provided in the Scottrade® Knowledge Center is for informational and/or educational purposes only. The information presented or discussed is not, and should not be considered, a recommendation or an offer of, or solicitation of an offer by, Scottrade or its affiliates to buy, sell or hold any security or other financial product or an endorsement or affirmation of any specific investment strategy. You are fully responsible for your investment decisions. Your choice to engage in a particular investment or investment strategy should be based solely on your own research and evaluation of the risks involved, your financial circumstances and your investment objectives. Scottrade, Inc. and its affiliates are not offering or providing, and will not offer or provide, any advice, opinion or recommendation of the suitability, value or profitability of any particular investment or investment strategy.