A current account is beneficial to its holder as?
-
A.
cheques can be issued to anybody -
B.
customers cannot withdraw frequently -
C.
it is only the holder that can make withdrawals -
D.
it allows customers the use of passbooks
Correct Answer: Option A
Explanation
Benefits of a Current Account
- cheques can be issued to anybody
- Allows for prompt business transactions.
- No limit on withdrawals.
- No limit on deposits in the home branch.
- Enables businessmen to make direct payments using cheques, demand drafts, or pay orders.
- Provides overdraft facility.
- Provides internet banking and mobile banking facilities.