Additional monetary base was not needed to convert checking deposits into cash.

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For example, a "single account" is one account category that includes deposits in checking, savings accounts, money market deposit accounts and time deposits such as certificates of deposit (CDs).

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Other options being considered are limiting check cashing and converting checking accounts into term deposits.

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Second, a weaker dollar erases the value of savings, especially dollars held in savings deposits or checking accounts.

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The high net interest margins at Wells Fargo have, in large part, been attributed to its large low cost average core deposits (which include noninterest-bearing deposits, interest-bearing checking, savings certificates, market rate and other savings, and certain foreign deposits).

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CreditSights, a research firm, points out that the bank's deposit growth has been stagnant: deposits at its checking accounts grew only 1% in the second quarter compared with the year before, even though the bank has expanded hugely in the meantime.

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In addition to limits on ATM withdrawals, the measures allow authorities to restrict noncash transactions, freeze check cashing, limit withdrawals from bank accounts and even convert checking accounts into fixed-term deposits.

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Savings are when you put your money in checking accounts, savings accounts, certificate of deposits, money market accounts, U.S. Savings Bonds, etc.

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Bank of America, the largest bank in the U.S. based on the level of deposits, is testing a new fee structure for its checking account service which used to be free.

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