#Cheque book and passbook holder free

Home branch: You can visit your parent branch for a variety of banking needs such as cash withdrawals, deposits, financial assistance, etc. You can access your current account for daily cash transactions using any of the following methods: Depositing cash at any of the branches of your bankĭifferent Types of Access Provided by Current Account.You can deposit cash in your current account using any of the following methods: What are the Different Ways of Depositing Cash in Current Account? The account provides a multitude of customized features and it is generally suited for those who carry out high financial transactions.įor those individuals or businesses that require frequent transactions to be carried out in foreign currencies, a foreign currency account is the best option. It comes with exclusive offers and benefits to accountholders. It is a cashbook which records the daily transactions under separate columns for debit and credit. It is suited for those businesses that do not maintain bank accounts.

Simple cash accounts or single column cash book accounts allow for daily transactions but does not provide features such as overdraft facility. It comes with additional features such as travel insurance, medical support, roadside assistance, etc. The packaged accounts offer a lots of perks to accountholders.

#Cheque book and passbook holder free

Other features may include internet banking, SMS banking, Free RTGS and NEFT transactions, etc. It offers cheque books, debit cards, overdraft facility, etc. It’s a non-interest bearing deposit account with minimum balance requirements and a stipulated monthly average balance. Here are some of the common types current accounts offered by banks: You should have a clear understanding of the nature of transactions you wish to carry out after opening a current account.

Provides internet banking and mobile banking facilitiesīanks offer different types of current accounts to suit the differential needs of their customers.

Enables businessmen to make direct payments using cheques, demand drafts, or pay orders.

No limit on deposits in the home branch.

Allows for prompt business transactions.

Monthly Average Balance (MAB) Requirement on Basic Current Account of Different Banks

Current accounts charge interests on short-term funds the account holder has borrowed from the bank.

Nowadays, some banks offer interest rates on current accounts as well.

The prime objective of current account is to facilitate smooth transactions for businesses.

For a single business, there cannot be multiple current accounts.

Just like savings account, KYC guidelines are to be followed even for current accounts.

Non-maintenance of the minimum balance can attract penalty charges.

No restriction on the number of transactions in a day.

A current account can be operated by individuals, proprietary concerns, public and private companies, associations, trusts, etc.

It is designed to facilitate frequent transactions – transfer funds, receive cheques, cash, etc.

Compared to savings account, a current account requires a higher minimum balance.

A current account allows transactions beyond the scope of a savings account.

Listed below are some of the basic features of a current bank account: These days, banks offer a number of attractive offers and benefits on current accounts to match the diversified needs of businesses. A current bank account is one of the primary requirements for starting a business.