What is a transactional account?

A transactional account is a type of bank account that allows for frequent transactions, such as deposits, withdrawals, and transfers, without limits on the number of transactions. These accounts typically come with features like debit cards, checks, and online banking. They are primarily used for everyday financial activities rather than for earning interest, making them suitable for managing day-to-day expenses. Examples include checking accounts and certain types of savings accounts that allow for regular access to funds.