diff --git a/packages/desktop-client/e2e/accounts.test.js b/packages/desktop-client/e2e/accounts.test.js
index da28d63c1e78b4798190ffcd1a0552553a33f11d..631cc30701b5f321c1925d38f59b7851310f52f4 100644
--- a/packages/desktop-client/e2e/accounts.test.js
+++ b/packages/desktop-client/e2e/accounts.test.js
@@ -24,7 +24,6 @@ test.describe('Accounts', () => {
   test('creates a new account and views the initial balance transaction', async () => {
     const accountPage = await navigation.createAccount({
       name: 'New Account',
-      type: 'Checking / Cash',
       offBudget: false,
       balance: 100,
     });
diff --git a/packages/desktop-client/e2e/page-models/navigation.js b/packages/desktop-client/e2e/page-models/navigation.js
index ad04a63873c2563641ec4eb048b62428144de91a..00a6d801d00c001c26400592884c4f11301fa90d 100644
--- a/packages/desktop-client/e2e/page-models/navigation.js
+++ b/packages/desktop-client/e2e/page-models/navigation.js
@@ -60,7 +60,6 @@ export class Navigation {
 
     // Fill the form
     await this.page.getByLabel('Name:').fill(data.name);
-    await this.page.getByLabel('Type:').selectOption({ label: data.type });
     await this.page.getByLabel('Balance:').fill(String(data.balance));
 
     if (data.offBudget) {
diff --git a/packages/desktop-client/src/components/accounts/MobileAccounts.js b/packages/desktop-client/src/components/accounts/MobileAccounts.js
index 6604e1960ffe2a032c1e193aa8f1d68fab28f38b..3f0946095aab30bd308fe82ee4c94cd9b6baab34 100644
--- a/packages/desktop-client/src/components/accounts/MobileAccounts.js
+++ b/packages/desktop-client/src/components/accounts/MobileAccounts.js
@@ -4,9 +4,7 @@ import { useNavigate } from 'react-router-dom-v5-compat';
 
 import * as actions from 'loot-core/src/client/actions';
 import * as queries from 'loot-core/src/client/queries';
-import { prettyAccountType } from 'loot-core/src/shared/accounts';
 
-import Wallet from '../../icons/v1/Wallet';
 import { colors, styles } from '../../style';
 import { withThemeColor } from '../../util/withThemeColor';
 import { Button, Text, TextOneLine, View } from '../common';
@@ -104,26 +102,6 @@ export function AccountCard({ account, updated, getBalanceQuery, onSelect }) {
               />
             )}
           </View>
-          <View
-            style={{
-              flexDirection: 'row',
-              alignItems: 'center',
-              marginTop: '4px',
-            }}
-          >
-            <Text style={[styles.smallText, { color: colors.n5 }]}>
-              {prettyAccountType(account.type)}
-            </Text>
-            <Wallet
-              style={{
-                width: 15,
-                height: 15,
-                color: colors.n9,
-                marginLeft: 8,
-                marginBottom: 2,
-              }}
-            />
-          </View>
         </View>
         <CellValue
           binding={getBalanceQuery(account)}
diff --git a/packages/desktop-client/src/components/modals/ConfigureLinkedAccounts.js b/packages/desktop-client/src/components/modals/ConfigureLinkedAccounts.js
index f54c50c6c77a94b59da515499d8f46be665967b9..dedafb9577e0f5090ee5d5e73afcb8f80ef9566b 100644
--- a/packages/desktop-client/src/components/modals/ConfigureLinkedAccounts.js
+++ b/packages/desktop-client/src/components/modals/ConfigureLinkedAccounts.js
@@ -1,10 +1,6 @@
 import React, { useState } from 'react';
 
-import {
-  fromPlaidAccountType,
-  determineOffBudget,
-  prettyAccountType,
-} from 'loot-core/src/shared/accounts';
+import { determineOffBudget } from 'loot-core/src/shared/accounts';
 
 import Checkmark from '../../icons/v1/Checkmark';
 import { styles, colors } from '../../style';
@@ -47,9 +43,6 @@ function Account({ account, offbudget, onSelect }) {
               flexDirection: 'row',
             }}
           >
-            {prettyAccountType(
-              fromPlaidAccountType(account.type, account.subtype),
-            )}
             <Text style={{ marginLeft: 4 }}>
               ...
               {account.mask}
@@ -79,9 +72,7 @@ export default function ConfigureLinkedAccounts({
   actions,
 }) {
   let [offbudgetAccounts, setOffbudgetAccounts] = useState(() =>
-    accounts
-      .filter(acct => determineOffBudget(fromPlaidAccountType(acct.type)))
-      .map(acct => acct.id),
+    accounts.filter(acct => determineOffBudget(acct.type)).map(acct => acct.id),
   );
 
   function toggleAccount(id) {
diff --git a/packages/desktop-client/src/components/modals/CreateLocalAccount.js b/packages/desktop-client/src/components/modals/CreateLocalAccount.js
index 07d97666efd973d47e7dc6c52b8d049193ad5e74..38d729b0a7be65bb70a96b01d0631677cd6a3c23 100644
--- a/packages/desktop-client/src/components/modals/CreateLocalAccount.js
+++ b/packages/desktop-client/src/components/modals/CreateLocalAccount.js
@@ -2,7 +2,6 @@ import React from 'react';
 
 import { Formik } from 'formik';
 
-import { determineOffBudget } from 'loot-core/src/shared/accounts';
 import { toRelaxedNumber } from 'loot-core/src/shared/util';
 
 import { colors } from '../../style';
@@ -12,7 +11,6 @@ import {
   ModalButtons,
   Button,
   Input,
-  Select,
   InlineField,
   FormError,
   InitialFocus,
@@ -26,17 +24,10 @@ function CreateLocalAccount({ modalProps, actions, history }) {
         <View>
           <Formik
             validateOnChange={false}
-            initialValues={{
-              name: '',
-              type: 'checking',
-              balance: '0',
-            }}
+            initialValues={{ name: '', balance: '0' }}
             validate={() => ({})}
             onSubmit={async (values, { setErrors }) => {
               const errors = {};
-              if (!values.type) {
-                errors.type = 'required';
-              }
               if (!values.name) {
                 errors.name = 'required';
               }
@@ -49,7 +40,6 @@ function CreateLocalAccount({ modalProps, actions, history }) {
                 modalProps.onClose();
                 let id = await actions.createAccount(
                   values.name,
-                  values.type,
                   toRelaxedNumber(values.balance),
                   values.offbudget,
                 );
@@ -84,34 +74,6 @@ function CreateLocalAccount({ modalProps, actions, history }) {
                   </FormError>
                 )}
 
-                <InlineField label="Type" width="75%">
-                  <Select
-                    name="type"
-                    value={values.type}
-                    onChange={e => {
-                      setFieldValue(
-                        'offbudget',
-                        determineOffBudget(e.target.value),
-                      );
-                      handleChange(e);
-                    }}
-                    onBlur={handleBlur}
-                  >
-                    <option value="checking">Checking / Cash</option>
-                    <option value="savings">Savings</option>
-                    <option value="credit">Credit Card</option>
-                    <option value="investment">Investment</option>
-                    <option value="mortgage">Mortgage</option>
-                    <option value="debt">Debt</option>
-                    <option value="other">Other</option>
-                  </Select>
-                </InlineField>
-                {errors.type && (
-                  <FormError style={{ marginLeft: 75 }}>
-                    You must select a type
-                  </FormError>
-                )}
-
                 <View
                   style={{
                     width: '75%',
diff --git a/packages/import-ynab4/importer.js b/packages/import-ynab4/importer.js
index 6c53124b15e09d2003dff27cf8e73153f5212acb..e71c960112f559074e8bbc5b5eb138455a77daeb 100644
--- a/packages/import-ynab4/importer.js
+++ b/packages/import-ynab4/importer.js
@@ -11,24 +11,6 @@ import uuid from 'uuid';
 
 // Utils
 
-function mapAccountType(type) {
-  switch (type) {
-    case 'Cash':
-    case 'Checking':
-      return 'checking';
-    case 'CreditCard':
-      return 'credit';
-    case 'Savings':
-      return 'savings';
-    case 'InvestmentAccount':
-      return 'investment';
-    case 'Mortgage':
-      return 'mortgage';
-    default:
-      return 'other';
-  }
-}
-
 function sortByKey(arr, key) {
   return [...arr].sort((item1, item2) => {
     if (item1[key] < item2[key]) {
@@ -82,7 +64,6 @@ async function importAccounts(data, entityIdMap) {
     accounts.map(async account => {
       if (!account.isTombstone) {
         const id = await actual.createAccount({
-          type: mapAccountType(account.accountType),
           name: account.accountName,
           offbudget: account.onBudget ? false : true,
           closed: account.hidden ? true : false,
diff --git a/packages/import-ynab5/importer.js b/packages/import-ynab5/importer.js
index 554bcd51c7ae6623efeb7d69a071ec4b6900bd1c..25a48c7e6c87fd65c06abf75eba727eff9d416e7 100644
--- a/packages/import-ynab5/importer.js
+++ b/packages/import-ynab5/importer.js
@@ -16,25 +16,6 @@ function monthFromDate(date) {
   return parts[0] + '-' + parts[1];
 }
 
-function mapAccountType(type) {
-  switch (type) {
-    case 'cash':
-    case 'checking':
-      return 'checking';
-    case 'creditCard':
-    case 'lineOfCredit':
-      return 'credit';
-    case 'savings':
-      return 'savings';
-    case 'investmentAccount':
-      return 'investment';
-    case 'mortgage':
-      return 'mortgage';
-    default:
-      return 'other';
-  }
-}
-
 function sortByKey(arr, key) {
   return [...arr].sort((item1, item2) => {
     if (item1[key] < item2[key]) {
@@ -62,7 +43,6 @@ function importAccounts(data, entityIdMap) {
     data.accounts.map(async account => {
       if (!account.deleted) {
         let id = await actual.createAccount({
-          type: mapAccountType(account.type),
           name: account.name,
           offbudget: account.on_budget ? false : true,
           closed: account.closed,
diff --git a/packages/loot-core/migrations/1682265217543_remove_account_type.sql b/packages/loot-core/migrations/1682265217543_remove_account_type.sql
new file mode 100644
index 0000000000000000000000000000000000000000..34fe104292938850e9d0eb241652fb9bb4a555f5
--- /dev/null
+++ b/packages/loot-core/migrations/1682265217543_remove_account_type.sql
@@ -0,0 +1,5 @@
+BEGIN TRANSACTION;
+
+ALTER TABLE accounts DROP COLUMN type;
+
+COMMIT;
diff --git a/packages/loot-core/src/client/actions/queries.ts b/packages/loot-core/src/client/actions/queries.ts
index 70ab734faec2df65a8ee218bb44dd189da7ce8c1..3308684a27e6aa7b590da5f1269757dc19fb935f 100644
--- a/packages/loot-core/src/client/actions/queries.ts
+++ b/packages/loot-core/src/client/actions/queries.ts
@@ -230,9 +230,9 @@ export function updateAccount(account) {
   };
 }
 
-export function createAccount(name, type, balance, offBudget) {
+export function createAccount(name, balance, offBudget) {
   return async function (dispatch) {
-    let id = await send('account-create', { name, type, balance, offBudget });
+    let id = await send('account-create', { name, balance, offBudget });
     await dispatch(getAccounts());
     await dispatch(getPayees());
     return id;
diff --git a/packages/loot-core/src/mocks/budget.ts b/packages/loot-core/src/mocks/budget.ts
index b90ca9958cebbffc5bb3376819e94686cb1d01a1..ba559dc747d0372ce93add8f917022802e965034 100644
--- a/packages/loot-core/src/mocks/budget.ts
+++ b/packages/loot-core/src/mocks/budget.ts
@@ -564,14 +564,14 @@ export async function createTestBudget(handlers) {
   await db.runQuery('DELETE FROM category_groups');
 
   let accounts: AccountEntity[] = [
-    { name: 'Bank of America', type: 'checking' },
-    { name: 'Ally Savings', type: 'savings' },
-    { name: 'Capital One Checking', type: 'checking' },
-    { name: 'HSBC', type: 'checking' },
-    { name: 'Vanguard 401k', type: 'investment', offBudget: 1 },
-    { name: 'Mortgage', type: 'mortgage', offBudget: 1 },
-    { name: 'House Asset', type: 'other', offBudget: 1 },
-    { name: 'Roth IRA', type: 'investment', offBudget: 1 },
+    { name: 'Bank of America' },
+    { name: 'Ally Savings' },
+    { name: 'Capital One Checking' },
+    { name: 'HSBC' },
+    { name: 'Vanguard 401k', offBudget: 1 },
+    { name: 'Mortgage', offBudget: 1 },
+    { name: 'House Asset', offBudget: 1 },
+    { name: 'Roth IRA', offBudget: 1 },
   ];
   await runMutator(() =>
     batchMessages(async () => {
@@ -664,31 +664,27 @@ export async function createTestBudget(handlers) {
   await runMutator(() =>
     batchMessages(async () => {
       for (let account of accounts) {
-        switch (account.type) {
-          case 'checking':
-            if (account.name === 'Bank of America') {
-              await fillPrimaryChecking(handlers, account, payees, allGroups);
-            } else {
-              await fillChecking(handlers, account, payees, allGroups);
-            }
-            break;
-          case 'investment':
-            await fillInvestment(handlers, account, payees, allGroups);
-            break;
-          case 'savings':
-            await fillSavings(handlers, account, payees, allGroups);
-            break;
-          case 'mortgage':
-            await fillMortgage(handlers, account, payees, allGroups);
-            break;
-          case 'other':
-            if (account.name === 'House Asset') {
-              await fillOther(handlers, account, payees, allGroups);
-            } else {
-              await fillChecking(handlers, account, payees, allGroups);
-            }
-            break;
-          default:
+        if (account.name === 'Bank of America') {
+          await fillPrimaryChecking(handlers, account, payees, allGroups);
+        } else if (
+          account.name === 'Capital One Checking' ||
+          account.name === 'HSBC'
+        ) {
+          await fillChecking(handlers, account, payees, allGroups);
+        } else if (account.name === 'Ally Savings') {
+          await fillSavings(handlers, account, payees, allGroups);
+        } else if (
+          account.name === 'Vanguard 401k' ||
+          account.name === 'Roth IRA'
+        ) {
+          await fillInvestment(handlers, account, payees, allGroups);
+        } else if (account.name === 'Mortgage') {
+          await fillMortgage(handlers, account, payees, allGroups);
+        } else if (account.name === 'House Asset') {
+          await fillOther(handlers, account, payees, allGroups);
+        } else {
+          console.error('Unknown account name for test budget: ', account.name);
+          await fillChecking(handlers, account, payees, allGroups);
         }
       }
     }),
diff --git a/packages/loot-core/src/mocks/index.ts b/packages/loot-core/src/mocks/index.ts
index f0e055c35e12a93dd61bcb831c1bce5d5a5ffd66..2d4fcee59abe18fbb82d8e8b5deb65fb66e1d700 100644
--- a/packages/loot-core/src/mocks/index.ts
+++ b/packages/loot-core/src/mocks/index.ts
@@ -2,7 +2,7 @@ import * as uuid from '../platform/uuid';
 import * as monthUtils from '../shared/months';
 import type { TransactionEntity } from '../types/models';
 
-export function generateAccount(name, isConnected, type, offbudget) {
+export function generateAccount(name, isConnected, offbudget) {
   return {
     id: uuid.v4Sync(),
     name,
@@ -10,7 +10,6 @@ export function generateAccount(name, isConnected, type, offbudget) {
     bank: isConnected ? Math.floor(Math.random() * 10000) : null,
     bankId: isConnected ? Math.floor(Math.random() * 10000) : null,
     bankName: isConnected ? 'boa' : null,
-    type: type || 'checking',
     offbudget: offbudget ? 1 : 0,
     closed: 0,
   };
diff --git a/packages/loot-core/src/server/accounts/link.ts b/packages/loot-core/src/server/accounts/link.ts
index eb12b9fc897d9f5f7838ddd11894bb7f3d0c5b97..5815e89b4eb382b134f4c8c98b4af4ef302ae604 100644
--- a/packages/loot-core/src/server/accounts/link.ts
+++ b/packages/loot-core/src/server/accounts/link.ts
@@ -1,6 +1,5 @@
 import * as asyncStorage from '../../platform/server/asyncStorage';
 import * as uuid from '../../platform/uuid';
-import { fromPlaidAccountType } from '../../shared/accounts';
 import { amountToInteger } from '../../shared/util';
 import * as db from '../db';
 import { runMutator } from '../mutators';
@@ -81,7 +80,6 @@ export async function addAccounts(bankId, accountIds, offbudgetIds = []) {
           account_id: acct.account_id,
           name: acct.name,
           official_name: acct.official_name,
-          type: fromPlaidAccountType(acct.type),
           balance_current: amountToInteger(acct.balances.current),
           mask: acct.mask,
           bank: bankId,
@@ -128,7 +126,6 @@ export async function addNordigenAccounts(
           account_id: acct.account_id,
           name: acct.name,
           official_name: acct.official_name,
-          type: fromPlaidAccountType(acct.type),
           balance_current: amountToInteger(acct.balances.current),
           mask: acct.mask,
           bank: bankId,
diff --git a/packages/loot-core/src/server/api-models.ts b/packages/loot-core/src/server/api-models.ts
index 482a527a750424e358591a2e975c7772ba3dadb4..1678ae15af26d7eb0bd20530d5c290f4376e6a24 100644
--- a/packages/loot-core/src/server/api-models.ts
+++ b/packages/loot-core/src/server/api-models.ts
@@ -84,7 +84,6 @@ export const accountModel = {
     return {
       id: account.id,
       name: account.name,
-      type: account.type,
       offbudget: account.offbudget ? true : false,
       closed: account.closed ? true : false,
     };
diff --git a/packages/loot-core/src/server/api.ts b/packages/loot-core/src/server/api.ts
index c36da3398918b37c82e2770e763bc19045e3960b..f249312697d24d0a0fb094e2e48012d3d63fe0cd 100644
--- a/packages/loot-core/src/server/api.ts
+++ b/packages/loot-core/src/server/api.ts
@@ -463,7 +463,6 @@ handlers['api/account-create'] = withMutation(async function ({
   checkFileOpen();
   return handlers['account-create']({
     name: account.name,
-    type: account.type,
     offBudget: account.offbudget,
     closed: account.closed,
     // Current the API expects an amount but it really should expect
diff --git a/packages/loot-core/src/server/aql/schema/index.ts b/packages/loot-core/src/server/aql/schema/index.ts
index e409b28bed7c7f9c5565d80e42f4c9779415523c..5f4a84acf3eaef046ac1129d436741c78e1d194e 100644
--- a/packages/loot-core/src/server/aql/schema/index.ts
+++ b/packages/loot-core/src/server/aql/schema/index.ts
@@ -61,8 +61,6 @@ export const schema = {
   accounts: {
     id: f('id'),
     name: f('string', { required: true }),
-    // TODO: enum
-    type: f('string'),
     offbudget: f('boolean'),
     closed: f('boolean'),
     sort_order: f('float'),
diff --git a/packages/loot-core/src/server/db/index.ts b/packages/loot-core/src/server/db/index.ts
index 0a1e4b48e40ece31ad7022beea1480d53f370155..9c7be1daeebd3167c34a3418fe9bb049ac387c27 100644
--- a/packages/loot-core/src/server/db/index.ts
+++ b/packages/loot-core/src/server/db/index.ts
@@ -547,12 +547,6 @@ export function getAccounts() {
 }
 
 export async function insertAccount(account) {
-  // Default to checking. Makes it a lot easier for tests and is
-  // generally harmless.
-  if (account.type === undefined) {
-    account = { ...account, type: 'checking' };
-  }
-
   const accounts = await all(
     'SELECT * FROM accounts WHERE offbudget = ? ORDER BY sort_order, name',
     [account.offbudget != null ? account.offbudget : 0],
diff --git a/packages/loot-core/src/server/main.ts b/packages/loot-core/src/server/main.ts
index 12da8fdea0a7f9d0880965d9d8aa6f67d19cd7ac..95c10bd46313cccb012e272be65418cf34524472 100644
--- a/packages/loot-core/src/server/main.ts
+++ b/packages/loot-core/src/server/main.ts
@@ -11,7 +11,6 @@ import * as fs from '../platform/server/fs';
 import logger from '../platform/server/log';
 import * as sqlite from '../platform/server/sqlite';
 import * as uuid from '../platform/uuid';
-import { fromPlaidAccountType } from '../shared/accounts';
 import { isNonProductionEnvironment } from '../shared/environment';
 import * as monthUtils from '../shared/months';
 import q, { Query } from '../shared/query';
@@ -756,7 +755,6 @@ handlers['accounts-link'] = async function ({
     id: upgradingId,
     account_id: account.account_id,
     official_name: account.official_name,
-    type: fromPlaidAccountType(account.type),
     balance_current: amountToInteger(account.balances.current),
     balance_available: amountToInteger(account.balances.available),
     balance_limit: amountToInteger(account.balances.limit),
@@ -806,7 +804,6 @@ handlers['nordigen-accounts-link'] = async function ({
       mask: account.mask,
       name: account.name,
       official_name: account.official_name,
-      type: account.type,
       bank: bank.id,
     });
     await db.insertPayee({
@@ -855,7 +852,6 @@ handlers['nordigen-accounts-connect'] = async function ({
 
 handlers['account-create'] = mutator(async function ({
   name,
-  type,
   balance,
   offBudget,
   closed,
@@ -863,7 +859,6 @@ handlers['account-create'] = mutator(async function ({
   return withUndo(async () => {
     const id = await db.insertAccount({
       name,
-      type,
       offbudget: offBudget ? 1 : 0,
       closed: closed ? 1 : 0,
     });
diff --git a/packages/loot-core/src/server/models.ts b/packages/loot-core/src/server/models.ts
index 40cb1002a4cda48b69a4412fd2ba3d5f750348af..12968c9adcd6f779bc7d2b3c6117412aefa356e1 100644
--- a/packages/loot-core/src/server/models.ts
+++ b/packages/loot-core/src/server/models.ts
@@ -36,30 +36,11 @@ export function fromDateRepr(number) {
 }
 
 export const accountModel = {
-  validateAccountType(account) {
-    const { type } = account;
-    if (
-      type !== 'checking' &&
-      type !== 'savings' &&
-      type !== 'investment' &&
-      type !== 'credit' &&
-      type !== 'mortgage' &&
-      type !== 'debt' &&
-      type !== 'other'
-    ) {
-      throw new Error('Invalid account type: ' + type);
-    }
-  },
-
   validate(account, { update }: { update?: boolean } = {}) {
-    if (!update || account.type != null) {
-      accountModel.validateAccountType(account);
-    }
-
     requiredFields(
       'account',
       account,
-      update ? ['name', 'type', 'offbudget', 'closed'] : ['name', 'type'],
+      update ? ['name', 'offbudget', 'closed'] : ['name'],
       update,
     );
 
diff --git a/packages/loot-core/src/shared/accounts.ts b/packages/loot-core/src/shared/accounts.ts
index 668ca00c17a379482592526f63fc7faf7b417274..cb74510ffe224e927be4fe3bb38703013be0acb6 100644
--- a/packages/loot-core/src/shared/accounts.ts
+++ b/packages/loot-core/src/shared/accounts.ts
@@ -1,58 +1,13 @@
-export function fromPlaidAccountType(type, subtype?: string) {
-  switch (type) {
+export function determineOffBudget(plaidAccountType) {
+  switch (plaidAccountType) {
     case 'brokerage':
     case 'investment':
-      return 'investment';
-    case 'credit':
-      return 'credit';
     case 'loan':
-      return 'debt';
-    case 'other':
-      return 'other';
-    case 'depository':
-    default:
-      switch (subtype) {
-        case 'money market':
-        case 'savings':
-          return 'savings';
-        case 'cd':
-          return 'cd';
-        default:
-          return 'checking';
-      }
-  }
-}
-
-export function prettyAccountType(type) {
-  switch (type) {
-    case 'checking':
-      return 'Checking';
-    case 'savings':
-      return 'Savings';
-    case 'cd':
-      return 'CD';
-    case 'investment':
-      return 'Investment';
-    case 'credit':
-      return 'Credit Card';
-    case 'mortgage':
-      return 'Mortgage';
-    case 'debt':
-      return 'Debt';
-    case 'other':
-    default:
-      return 'Other';
-  }
-}
-
-export function determineOffBudget(type) {
-  switch (type) {
-    case 'investment':
-    case 'mortgage':
-    case 'debt':
     case 'other':
       return true;
+    case 'credit':
+    case 'depository':
     default:
+      return false;
   }
-  return false;
 }
diff --git a/packages/loot-core/src/types/main.handlers.d.ts b/packages/loot-core/src/types/main.handlers.d.ts
index 12fed1f4a5da6c9f279011d40412e9d8b43dec04..f7158fb2a177181d3c30ea34c20f25fa8e1b512d 100644
--- a/packages/loot-core/src/types/main.handlers.d.ts
+++ b/packages/loot-core/src/types/main.handlers.d.ts
@@ -156,7 +156,6 @@ export interface MainHandlers {
 
   'account-create': (arg: {
     name;
-    type;
     balance;
     offBudget;
     closed?;
diff --git a/packages/loot-core/src/types/models/account.d.ts b/packages/loot-core/src/types/models/account.d.ts
index b001230565463a7c4aeebe91b31a3d92ccfeef21..5d062d8a4cdc64403b264bdcb4d6cee7eade393f 100644
--- a/packages/loot-core/src/types/models/account.d.ts
+++ b/packages/loot-core/src/types/models/account.d.ts
@@ -1,7 +1,6 @@
 export interface AccountEntity {
   id?: string;
   name: string;
-  type?: string;
   offbudget?: boolean;
   closed?: boolean;
   sort_order?: number;
diff --git a/upcoming-release-notes/948.md b/upcoming-release-notes/948.md
new file mode 100644
index 0000000000000000000000000000000000000000..e8bc80d0b3bdbfa55b5695f19a47211abd4f0bfc
--- /dev/null
+++ b/upcoming-release-notes/948.md
@@ -0,0 +1,6 @@
+---
+category: Enhancements
+authors: [j-f1]
+---
+
+Remove support for storing account types on the account (they didn’t do anything in the budget)