Checking

Bank Checking & Savings Accounts

A transaction account, checking account, or demand deposit account is a deposit account held at a bank or other financial institution which is available to the account owner “on demand” and is available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of cheques and debit by electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds.

Transaction accounts are generally used for the business or personal convenience of the account holder. They normally do not earn any or a high interest and the financial institution that maintains the account commonly charges account maintenance or transaction fees to the account holder.

Saving accounts (UK: savings accounts) are accounts maintained by retail financial institutions that pay interestbut cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing acheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and, in some jurisdictions, does not incur a reserve requirement. Cash in the bank’s vaults may thus be used, for example, to fund interest-payingloans.

The other major types of deposit account are the transactional account (usually known as a “checking” (US) or “current” (UK) account), money market account and time deposit.

Laredo

Laredo (/ləˈrd/ lə-ray-dohSpanish: [laˈɾeðo]) is the county seat of Webb County, Texas, United States, located on the north bank of the Rio Grande in South Texas, across from Nuevo LaredoTamaulipasMexico. According to the 2010 census, the city population was 236,091, making it the tenth-most populous city in the state of Texas and third-most populated on the Mexico–United States border, after San Diego, California, and El Paso, Texas.[5] Its metropolitan area is the 178th-largest in the U.S. and includes all of Webb County, with a population of 250,304.[5] Laredo is also part of the cross-border Laredo-Nuevo Laredo Metropolitan Area with an estimated population of 636,516.[6]

Because Laredo is 95.6 percent Hispanic and Latino, it is one of the least ethnically diverse cities in the United States. When economic diversity, household diversity and social class diversity, are considered, Laredo is rated the 19th least diverse city overall out of the 313 largest cities in the nation.[7]

Laredo’s economy is based on international trade with Mexico. Most major transportation companies have a facility in Laredo. The city’s location on the southern end of I-35 close to the manufacturers in northern Mexico promotes its vital role in trade between the two nations. Laredo International Airport is within the Laredo city limits, while the Quetzalcoatl International Airport is nearby in Nuevo Laredo on the Mexican side.