What are the Benefits of a Current Account?

[IamDozzy]

I was at the bank last week to carry out some transactions and I noticed the sharp decline of Current account holders in my country Nigeria. Majority of people had abandoned their current account and opened a savings account. This lead me to ask what they saw in a current account in the first place. Forum members, can you enlighten I and others who don't know the benefits of a Current account.

 

[Layefa94]

More fund can be deposited in and for business transaction

 

[Kehinde]

The current account includes deposits, withdrawals, and contra transactions. Such accounts are also called the Demand Deposit Account. A Current account can be opened in most of the commercial banks. A current account being a zero-account, is generally associated with huge transactions on a regular basis.

 

[idhans]

I was at the bank last week to carry out some transactions and I noticed the sharp decline of Current account holders in my country Nigeria. Majority of people had abandoned their current account and opened a savings account. This lead me to ask what they saw in a current account in the first place. Forum members, can you enlighten I and others who don't know the benefits of a Current account.

There are so many privileges that you will enjoy if you have a current account.with current account it will be very easy for you to

Post automatically merged: Feb 9, 2021

The current account includes deposits, withdrawals, and contra transactions. Such accounts are also called the Demand Deposit Account. A Current account can be opened in most of the commercial banks. A current account being a zero-account, is generally associated with huge transactions on a regular basis.

with current account it makes it much easier for you to obtain loans from banks, non-governmental organisations and other lending institutions. Current account will also help you to register your company name easily. You can give away cheques with current account which is another advantage.

 

[Debola]

Cheques, pay-orders, or demand-drafts can be issued via a current account for making direct payments to creditors. Overdraft facilities are also available for current account holders. The presence of small interest earnings on account balance makes a current account all the more attractive for its users.

 

[Onachukwu]

Cheques, pay-orders, or demand-drafts can be issued via a current account for making direct payments to creditors. Overdraft facilities are also available for current account holders. The presence of small interest earnings on account balance makes a current account all the more attractive for its users

Post automatically merged: Feb 10, 2021

Cheques, pay-orders, or demand-drafts can be issued via a current account for making direct payments to creditors. Overdraft facilities are also available for current account holders. The presence of small interest earnings on account balance makes a current account all the more attractive for its users

Post automatically merged: Feb 10, 2021

Cheques, pay-orders, or demand-drafts can be issued via a current account for making direct payments to creditors. Overdraft facilities are also available for current account holders. The presence of small interest earnings on account balance makes a current account all the more attractive for its users

 

[Sheun450]

A current account provides a proof of payment · Cheques provide more security · Pay bills (or people) easily, and get paid easily · Ease of access with online banking · No transaction limits.

 

[Veetos12]

I was at the bank last week to carry out some transactions and I noticed the sharp decline of Current account holders in my country Nigeria. Majority of people had abandoned their current account and opened a savings account. This lead me to ask what they saw in a current account in the first place. Forum members, can you enlighten I and others who don't know the benefits of a Current account

Current account has more features than savings account. It can be used to take a loan easily front he bank. It has a better capacity to hold money for a customer more than savings account which is only meant for daily savings.

 

[Sheun450]

Current Accounts derive their name from the purpose they are suited for, regular transactions. · This type of account is more suited for users like firms, companies, public enterprises, businessmen, etc. · Currents accounts do not

 

[Ralphjoe]

Current account has a feature that normal savings account do not have and that feature is having a cheque book that is assigned to the account. This cheque book means that you can issue a cheque to someone and that person will cash it or it will be transferred to the person's account.

 

[Anna52]

Current account is also known as a business account this is because huge amount of financial transaction can be made on this account. Most business owners open current account for their business purposes.

 

[Ayokex]

I've actually come to this thread to learn. It's very funny to hear that majority of people even some current account owners don't really know the difference and value it carries. I also do not know it.

 

[Monster Masterpiece]

People lift to saving account for the following reason: The bank requires that you have such salary to open current account which is higher than your salary or you are still a student and need to pay some services with your bank card witch is not available for saving account, except few banks are offering current account even without need to have a salary to popularise pay by debit card, or they do not want to pay with debit card online due to lack of knowledge.

 

[Shigobad2020]

A current account provides a proof of payment · Cheques provide more security · Pay bills (or people) easily, and get paid easily · Ease of access with online banking · No transaction limits.

One of the benefit of a current account is that its internet and mobile banking enables error free transaction in which there's no room for error, and a current account holder can deposit cash or cheque at different bank branches.

 

[Monster Masterpiece]

One of the benefit of a current account is that its internet and mobile banking enables error free transaction in which there's no room for error, and a current account holder can deposit cash or cheque at different bank branches.

Even saving account you can access to your online transaction (some banks allows this feature) and also you can deposit cash or cheque at different bank branches but for some banks cheque deposited per month could be limited to 5 cheques per month against checking account where you can deposit unlimited cheques.

 

[Eodine]

The benefits of current account used to include zero fees, higher interest rates than other types of account but now since nothing is really working in the country then the benefits are no longer working either

 

[tyrim88]

There are many benefits the a holder of a current account,You can give out a cheque payment to someone with it,you obtain loan easily when you have a current account,And also there are small intrest given to the account holder.

 

[Monster Masterpiece]

There are many benefits the a holder of a current account,You can give out a cheque payment to someone with it,you obtain loan easily when you have a current account,And also there are small intrest given to the account holder.

You can pay your online bills with your credit card if it is national card so gouvernement pay bill websites but few countries are offering international card for online purchases.

 

[Ub40]

The benefits of current account over savings account can't be overemphasized. I never knew current account has benefits as much as listed above. Personally, i have both current and savings account. My current account is for salary while savings account is for normal day to day transaction and for savings.

 

[Sotherefore]

I don't know the benefit of current accounts, I personally do not have it but I think it is for business purpose in which you can actually give cheque for people to withdraw from it,anybody that is planning to start a business must have a current account for easy business transaction.