Current accounts are a type of bank account that is used by businesses for day-to-day financial transactions. They are often used by business owners and corporations to manage their finances.
Recent digitization of finance has led to the rise of digital-only bank accounts that have made banking easier than ever. Businesses can open current accounts from the comfort of their homes, and enjoy a myriad of customized features like integrated vendor payments, payroll, corporate credit cards and more, all from one single account.
A current account is a type of deposit account that caters to professionals and businessmen. Dealing largely with liquid deposits, this product allows for withdrawal of funds and checks being written against the balance and does not limit the number of transactions in a day.
A current account provides customers with easy access to their funds. This is because many banks offer debit cards, online banking and mobile banking services that make it easy to pay bills or withdraw funds from an ATM.
They usually have higher withdrawal limits compared to other types of accounts, such as savings accounts. This means that customers can withdraw larger amounts of money at once or more frequently.
Current account holders get a separate cheque balance that can be used every month. In a savings account, the cheques are issued for an entire year, and the account holder has to pay charges for a new chequebook.
25 Sep, 2023
25 Sep, 2023
Near New RTO Office Salasi
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