Current account and its benefits
What is a current account ?
Current account is basically for businessman's as they use it for
there business transaction with large number of daily banking transactions,
i.e. Receipts and/ or payments. There is no limit to make withdrawal and
depositing in account ,one can withdraw through their current accounts without
any limit, subject to banking cash transaction tax and government rules and
regulations, Current account holdeRs do not get any interest on their balance
lying in current account with the bank but these accounts have many benefits
Current account and its benefits
Benefits of current account
1. Large number of daily banking transactions, i.e. Receipts and/ or payments, cheque facilities
2. No limit on withdrawal of money, subject to banking cash transaction
tax and government rules and regulation,
3. Do not have any charge on the bank transfer money (nominal charge as applicable on transfer from one bank to home bank ).
4. cheque facility make it time saving process demand-drafts or pay-order Rs
without restrictions.
5. Banks work as intermediate in
collecting money on behalf of it customer which is need to recover.
6. Facility of overdraft (short-term borrowing)
7. account related Information
related credit-worthiness of account holder.
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