Because it pays a higher rate of interest.
A savings account is better than a checking account for saving money because they normally pay a higher interest rate than a checking account. Quite often, a checking account will not pay any interest at all.
A savings account is better than a checking account for saving money it pays higher interest than checking accounts.
The savings account is better because the customer is allowing his bank to keep his money for a longer period of time, traditional savings accounts pay somewhat higher interest than checking accounts.
Banks utilize the money of the customer to finance their investments and loans while the money is in the customer’s account.
The bank, therefore, gives a small percentage of its earnings to the customers.
Learn more about saving accounts here: https://brainly.com/question/10777478.
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