It is very important, as your life changes, that you alter your banking account accordingly. Using an account that is not tailored specifically to your needs is like over paying for bullion when the Cost of Gold is at a record low: in short, an unnecessary waste of money.
For many people, a basic savings account will sufficiently fill all banking requirements to begin with. This kind of account allows you to store your funds safely, access them regularly and, generally speaking, the interest rates offered will allow you to grow your capital if you want to.
However, for people who need to access money and make payments on a regular baisis, a savings account is not ideal. The charges to withdraw might be a little too high, for example, and this can be become an issue if you are moving your funds around on a daily basis.
In instances like these, it is best to open something that approximates on a transmission account. This kind of account is designed specifically for people whose money moves in and out on a very regular basis. Interest rates tend to be fairly low here because the account is not designed to hold money over time, however, charges may also be lower and this will save you money.
Often, this kind of transmission account can be easily linked to a savings account. If you have both variations of account at your fingertips, you will be able to benefit from the higher interest rates of the savings account and from the lower charges of the transmission.