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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.

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โˆ™ 2011-09-24 15:26:16
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Q: What is current account in bank?
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Online Bank Account?

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


Where do you get a current account?

You can get it from any bank


What are the functions of Habib Bank Ltd?

saving account fixed account current account


What are the advantages of having a current bank account?

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.


What is a bank balance?

A bank balance is the amount by which a current account is in credit or deficit.


What type of bank account typically offers no interest rate?

A current account.


How can one go about increasing their current account overdraft?

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.


Who is not permitted to open the current account in bank?

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


My current bank account was closed and someone has been depositing money to it can the bank use this money for an outstanding loan?

my bank closed my account can i reopen the same account again


Do they close your current bank account when filing for bankruptcy?

No they do not close your Checking or Savings account


What is meant by Current Account balance in short?

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


What is a bank account used to pay everyday expenses?

For individuals a cheque or current account.


Appeal letter to bank to not to close current account?

7


What are some current account interest rates?

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%.


what a journal entry of opened a current account in Nepal bank limited by depositing Rs 45000?

debit bank account 45000credit cash account 45000


Can you have same account no for saving and current?

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


How can one check their bank account balance online?

A person can check their bank account balance online by logging onto their bank's official web page and logging into their account and checking what the current balance for their account says.


What is the definition of current account?

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


Do you need NOC to open bank account with NBD?

Yes, I need for open a current account with NBD


What is a current bank account?

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


How do you write a letter to change bank account number?

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)


What are the advantages of a current bank account?

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.


How can you write a letter to the bank manager to open a current account?

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.


Will I get SMS updates for free current account?

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.


Is bank account a balance sheet item or income statement?

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.