Top Answer
User Avatar
Wiki User
2011-09-24 15:26:16
2011-09-24 15:26:16

A current account is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account.

Savings accounts are much more common in India than current accounts.


Related Questions

form_title= Online Bank Account form_header= Bank from anywhere with an online bank account! Who is your current bank provider?*= _ [50] What is your current interest rate?*= _ [50] What account types do you own?= [] Checking [] Savings

You can get it from any bank

There are many advantages to having a current bank account. Bank accounts make it possible to deposit or cash checks. They are also very convenient when you have a Debit Card for the account.

saving account fixed account current account

If someone needs to increase the current amount of overdraft on a bank account, one would have to contact the bank. There are papers that have to be signed to increase any limits on a bank account.

It depends on local legislation, but generally minors are not allowed to open a bank account.

Depends on the countries, current account interest rates can be different. For example, one bank can have a 0.35% where other bank has a rate of 0.5%.

No they do not close your Checking or Savings account

It is the balance that the bank shows that you have in your account at that time

For individuals a cheque or current account.

No - every bank account MUST have it's own unique account number.

A current account allows you to deposit money at one bank and then withdraw it at any other bank in the region. This makes it easier to access your cash, and allows you to pay with checks, deposit cash, and otherwise deal with your account at any bank. Some banks offer interest on current accounts, while others do not. Finally, of course, like any other bank account, it keeps your money safe until you need it.

You don't need to write a letter to the bank manager to open a current account. Instead the bank would have an application form that can be filled and submitted to open a new current account. Banks usually expect you to fill up the form and no bank would create a new account without you filling up the form. Just a letter wouldn't help in case of new account openings.

A bank account that you use for daily purchases and other similar transactions. Not an account to use for saving.

start with salutation then tell your name , current bank account number then tell that you want to change your bank account number soon tel the reason (optional)

an opened account with the mim amount of money in it meaning you havne't closed the bank account and can use or add money to write checks, debts ect

Bank account is actual bank account and it is asset of business and like all other assets which are shown in balance sheet bank account also shown under current asset portion of balance sheet.

Yes, if you have a free current account with a bank you would surely get SMS account updates for charge card balances and other transactions.

Yes, I need for open a current account with NBD

In India: Savings Account Current Account Fixed Deposits account Recurring Deposits account DEMAT Account etc.

* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits

There are various ways one can open a bank account online. It would help on deciding which account one would want such as a current account and then decide on the bank one is signing up to. An example is Lloyds and a current account. One would need their name, address, age, income and national insurance number to sign up.

To open a bank account, you need several important documents. You will require a valid piece of photo id, your social security card, and proof of your current address, such as a current bill.

Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.