Checking accounts were seldom or never used in command socialist economies.

Name: Checking accounts were seldom or never used in command socialist economies.
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In command socialist economies, the government controlled most aspects of the economy, including banking and finance. As a result, checking accounts were not commonly used as individuals did not have a lot of financial freedom and did not need to regularly manage their funds in this way.

Checking Accounts Were Seldom or Never Used in Command Socialist