Check your bank statements and account documents first
The fastest way to know your account type is to look at what your bank has already told you. Open your most recent bank statement — paper or online — and look for the account name or type label. Most banks print this near the top of the statement or in the account summary section. Common labels include "Regular Savings," "High-Yield Savings," "Money Market Account," or "Certificate of Deposit (CD)."
If you have your original account opening paperwork, that document will name the account type explicitly. Check your email for account confirmation messages from when you opened the account — banks typically send these within hours of signup and they always state the account type. If you opened the account online, log into your email and search for the bank's name plus "account confirmation" to find the original message.
Your debit card or checkbook (if you have one) can also hint at the account type. Savings accounts typically do not come with a debit card or checks, while checking accounts do. If you have a debit card linked to this account, it is almost certainly not a pure savings account.
Log into your online banking and look at account settings
Most banks display your account type prominently in their online portal or mobile app. Log in and find the section that shows your accounts — usually called "Accounts," "My Accounts," or "Account Overview." Click on the specific account you want to check. The account type should appear near the account number, often labeled as "Account Type" or "Product Type."
If the main view does not show it, look for an "Account Details" or "Account Information" link. Some banks hide this behind a settings icon or a "More" menu. The account type will be listed there alongside the account number, routing number, and opening date.
If your bank's website does not make this clear, call the customer service number on the back of your debit card or on your statement. Have your account number ready. A representative can tell you the exact account type in under a minute.
Key Takeaways
- Your most recent bank statement lists the account type near the top or in the account summary section.
- Your original account confirmation email from the bank will state the account type explicitly.
- Online banking portals show account type in the account details or account information section.
- Calling your bank's customer service line with your account number is the fastest way if you cannot find the information yourself.
- Savings accounts do not come with debit cards or checks, while checking accounts do.
Understand what the account type tells you about your money
Once you know the type, you can understand how your account works. A regular savings account earns a small amount of interest and limits how many withdrawals you can make per month — typically six. A high-yield savings account earns significantly more interest but may have higher minimum balance requirements. A money market account combines features of both savings and checking — it earns interest like savings but may come with a debit card or checks.
A certificate of deposit (CD) locks your money away for a set time period — anywhere from three months to five years — in exchange for a may provide interest rate. You cannot withdraw the money early without paying a penalty. A checking account is designed for frequent deposits and withdrawals, earns little to no interest, and comes with a debit card and checks.
Knowing your account type helps you understand whether your money is working as hard as it could be, whether you are hitting withdrawal limits, and what happens if you need to access your funds unexpectedly.
What to do if your bank has closed or merged
If your bank no longer exists because it was acquired or shut down, your account type information may still be available through the acquiring bank. When banks merge, the new bank typically sends account holders a letter explaining what happened to their accounts and what type they now have. Check your mail from around the time of the merger.
If you cannot find that letter, contact the acquiring bank directly with your old account number. They can look up your account history and tell you what type it was. If the bank failed and was taken over by the Federal Deposit Insurance Corporation (FDIC), you can search the FDIC's failed bank list online and contact the bank that assumed your account.
Account type matters for taxes and interest reporting
Your account type affects how your bank reports interest earnings to you and the IRS. Banks send a Form 1099-INT (Interest Income) for any account that earned $10 or more in interest during the year. This form lists the account type and the interest amount. If you received a 1099-INT, the account type should be noted on that form.
Knowing your account type also helps you understand whether you should be earning more interest. If you have a regular savings account earning 0.01% interest while high-yield accounts are earning 4% or more, you may want to move your money. Your account type is the first step in deciding whether your current setup matches your financial goals.
Frequently Asked Questions
Where on my bank statement will I see the account type?
Look at the top of your statement or in the account summary section. Most banks label it as "Account Type," "Product Type," or "Account Description." It appears near your account number and routing number. If you cannot find it on the first page, check the account details page or the back of the statement.
Can I change my account type after I open it?
Many banks allow you to convert one account type to another — for example, changing a regular savings account to a high-yield savings account. Contact your bank to ask whether this is possible and whether there are any fees or requirements. Some conversions require closing one account and opening a new one.
What if I have multiple accounts at the same bank?
Each account will have its own type listed separately in your online banking portal or on individual statements. If you receive combined statements, each account section will show its own type. Log into your bank's website and click on each account to see which is which.
Does my account type change if I do not use the account for a while?
No. Your account type remains the same whether you use it actively or leave it dormant. However, some banks may close inactive accounts after a long period of no deposits or withdrawals. Check your account terms or contact your bank if you have not used an account in several years.
Why does my bank call my account something different than what I remember?
Banks sometimes rename their products or change marketing names without changing the underlying account type. What you opened as a "Premium Savings" account might now be called "Elite Savings." The core features remain the same. Your bank statement and online portal will show the current name, which is what matters for understanding how your account works.