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What is Current Account
A "current account" typically refers to a type of bank account
that is used for regular transactions and business dealings.
Here are the key features and aspects associated with a current
account.
Features of a Current Account:
Transaction Account:- A current account is primarily used for
daily financial transactions such as deposits, withdrawals,
and payments.
Business and Personal Use:- Current accounts can be opened by
both individuals and businesses. They are particularly suited
for businesses that have a high number of transactions.
Various Payment Methods:- Current accounts facilitate various
payment methods such as checks, electronic transfers (e.g.,
NEFT, RTGS), and debit cards.
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