There are actually 2 types of ''savings'' accounts,  its confusing and it is just a terminology thing within the banks.

The general savings account is really a transaction account  like S-N-D has described,  it does everything,  but it appears as a savings account, .

But than you have real savings accounts,  where the only thing you can do is deposit funds to it from virtually anywhere,  But can only withdraw funds  to transfer to your own accounts,  but no one like Ebay can actually get funds for thier transaction fee's.   I have one of these as well,  where I chuck all my spare funds into (reasonable interest rate),  but last week I needed access to the funds, so first had to transfer it from my savings account to my transaction account (savings), before I could send it off to my intended recipient.

The banking system is stuffed and there are ''saving'' account and ''savings'' accounts''.  Dont get me started about other ''accounts''