Why is it called a checking account?

They're called checking accounts because, traditionally, they offer you the ability to write paper checks. A check is a financial instrument you can use to transfer money from your bank account to another person or another entity. For example, one can open a commercial or business account, a joint account, or a student account.

At Universal Trust Bank (UTB) we offer the following checking accounts

• Traditional checking account.
• Premium checking account.
• Senior checking account.
• Interest-bearing account.
• Business checking account.
• Checkless checking.
• Rewards checking account.
• Private bank checking.

Why do i need to have Universal Trust Bank (UTB) Checking Account?

If you anticipate heavy monthly traffic in your account from paying your bills—such as student loans, car loans, credit cards, auto insurance, mortgage—then it's best to set up a checking account,”

Is a checking account an asset?

The money you have stashed away in your checking account or savings account can be considered a solid asset. You can easily access these funds which makes them especially valuable. Retirement funds. Retirement accounts such as your 401(k), IRA, or TSP are considered assets.