So I had a meeting with a financial advisor not long ago, and she strongly recommended i set up a chequing account for my payroll to go into, as opposed to it going directly into my savings account like it always has been. I said yes without really thinking it through, but…before I talk to HR about where they deposit my payroll, what is the difference between a chequing account and a savings account? This is for Canadian banking btw.
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You might ask your bank about all of your check being deposited into one account, then have them move a specified amount into the other one. It’s the same end result, just a different entity dividing it for you.
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