answersLogoWhite

0

It is because,that is the only account they can use to generate fast money.not like saving account that they will be paying interest upon.so,you as a customer,will be charged some interest for helping you keeping your money safe.

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

Who offers business current accounts?

There are a few banks that offer business current accounts. HSBC Bank is one of the most popular banks that offer these types of accounts to their customers.


Who offers current accounts?

All banks offer current accounts. There are no restrictions as to who can open a current account. As long as you have money to pay for the initial deposit to open a current account, any bank will open one for you.


What are the liability products in banking?

Current Accounts, savings accounts, Demand drafts and cash deposits are all liability products offered by banks to its customers.


Why do banks pay little or no interest on current accounts?

Because - the purpose of a current account - is to have cash 'on-demand'. Current accounts are intended for everyday use (bills, credit card payments, shopping etc). Deposit accounts are intended as short or long-term savings - with money expected to be left in the account for at least a short while. Banks reward deposit accounts because they are intended as a savings tool, rather than a ready source of cash.


Do local banks in Fort Collins, Colorado offer any money market accounts?

Yes, there are many local banks in Fort Collins, Colorado that offer Money Market accounts. www.cdrates.bankaholic.com/ and www.bankrate.com/cd.aspx will both provide you with current rates on MM accounts in Colorado.


Do all banks provide checking accounts?

Yes. Almost all banks provide you with checking accounts.


Where can one find more information on the best current interests rates on savings accounts?

A person can find the best current interest rates on savings accounts by visiting branch offices of local banks in their area and comparing interest rates.


Is cash regardless of whether if has a positive or negative balance a current assets?

No. It will be kept with the assets within computer accounts packages but when the final accounts are produced the banks are split. Any with positive balances stay in current assets, and any with a negative balance will be put into current liabilities.


why do banks ask for introduction when we go to open an current account with a bank?

Banks ask for introduction in order to reduce the number of accounts that are opened fraudulently, often for the purposes of criminal activity.


What are the current money market rates on the banks in SC?

www.bankaholic.com features an extensive look at all current money market accounts and MM rates offered by all major banks and credit unions. On this site, you will be able to find the every changing rates for South Carolina. wwww.bankaholic.com features an extensive look at all current money market accounts offered by all major banks and credit unions, including banks in South Carolina. On this site, you will be able to find the ever-changing rates, as well as reviews.


What are services banks provide?

The following services are provided by the BW-Bank are: Online banking, current accounts, savings accounts, cards lost or stolen, wealth management, mortgages, corporate banking.


What are the major activities of commercial banks?

Some of the major activities/services provided by banks are: a. Checking/Current account b. Savings accounts c. ATM Cards d. Check Books e. Deposit Accounts f. Loans g. Credit Cards etc