The ability to withdraw some cash from my chequing account at a reasonable rate3.
From the economist.com
Because I lost my chequebook last week, I had to alert all the companies and utilities to whom pre-authorized payments are issued each month about my new chequing account number.
From the blogs.psychcentral.com
Accordingly, the North American term for what is known as a current account or cheque account in the UK is spelled chequing account in Canada and checking account in the US.