Your chequing account is all about access. It’s where you keep the money to cover day-to-day expenses like rent, utilities or groceries. Your chequing account’s a busy place, with money regularly going in and out of it, and that’s why you want to be able to perform a lot of transactions with it.
Your savings account isn’t as busy. It’s where you stockpile your money. You might have regular transactions going into your savings account, but there aren’t going to be too many coming out of it. When you do move that money, chances are you’ll move it as one lump sum. You don’t get many transactions with a savings account, but you earn more interest compared to your chequing account, and there’s no monthly fee.