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A '''savings account''' or '''savings deposit account''' is an account held by a bank which is designed for long term deposits of a customers funds.  Savings accounts receive interest on the deposited funds, often based on the customer's total balance, with higher balances typically being granted higher interest rates.  The account differs from a [[Certificate of Deposit]] in that the funds are accessible by a customer at any time without penalty either by direct withdrawal with a teller, or through an [[Automated Teller Machine]], though certain types of savings accounts such as Money Market Accounts can also be accessed using access checks.  Savings accounts are often used as a funding source for [[overdraft protection]].

A '''savings account''' or '''savings deposit account''' is an account held by a bank which is designed for long term deposits of a customers funds.  Savings accounts receive interest on the deposited funds, often based on the customer's total balance, with higher balances typically being granted higher interest rates.  The account differs from a [[Certificate of deposit]] in that the funds are accessible by a customer at any time without penalty either by direct withdrawal with a teller, or through an [[Automated Teller Machine]], though certain types of savings accounts such as Money Market Accounts can also be accessed using access checks.  Savings accounts are often used as a funding source for [[overdraft protection]].

Savings accounts are regulated by the [[Federal Reserve]].  For example, Regulation D governs limits on the number of withdrawals that can be done from a savings account during a single billing cycle, and Regulation DD (also known as the Truth in Savings Act) requires that banking institutions fully disclose the operating provisions of a savings account to a customer.

Savings accounts are regulated by the [[Federal Reserve]].  For example, Regulation D governs limits on the number of withdrawals that can be done from a savings account during a single billing cycle, and Regulation DD (also known as the Truth in Savings Act) requires that banking institutions fully disclose the operating provisions of a savings account to a customer.