why you need a checking account when there’s no more 6-transaction per month limit on saving accounts?

Question

Since saving accounts like sofi give like 4.6% instead of 0 on checking (I do realize some banks still enforce the 6-transaction limit rule, however, lots of banks also no longer do). Why do I realistic need a checking account when I can just bank primarily with the saving and get the interest as well.
Thank you in advance guys/gals!

In: Economics

Answer 1

Banks usually won’t allow you to write checks off a checking account, and might not allow access to bill payment tools with a savings account.