InvestorQ : What is the current account?
Debbie Mascarenhas made post

What is the current account?

Answer
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Anjana Aiyar answered.
8 months ago


A current bank account is nothing but an account mostly owned by entrepreneurs, businessmen, companies, and firms with active business transactions.
The main feature of the current account is the facility for the payment to multiple financial transactions, and limitless withdrawals.
However there are more such reasons that one chooses to have a current account, they are;
overdraft facilities
Benefit from free inward remittances, deposit and withdrawals at any location
Let me tell you the only disadvantage of a current account is that the account holder doesn’t earn any interest on the deposit on the contrary to the savings account.