Current account is non-interest bearing demand deposit account. Current bank account is opened by businessmen who have a higher number of regular transactions with the bank. In current account, amount can be deposited and withdrawn at any time without giving any notice. It is also suitable for making payments to creditors by using cheques. Cheques received from customers can be deposited in this account for collection
Benefit of Current Account
- Current accounts allow handling of large volumes of receipts and/orpayments systematically
- Cheques, pay-orders, or demand-drafts can be issued via a current account for making direct payments to creditors
- It enables a bank to collect money on behalf of its customers and credits the same in their customers’ current accounts
Facility provides with current account
- Cheque Book
- Internet Banking
- Mobile Banking
- SMS alert
- Statement on E-Mail