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 Form 4 Business Studies Online Lessons: Money and Banking

Features of current accounts

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Answer Text:
Features or characteristics of current accounts
-there is no specific minimum balance to be maintained in the account
-any amount can be withdrawn any time without any notice.
-money can be deposited any time and in any form.
-cheque books are issued to account holders
-no interest is earned in current account balances.
-ledger fee are charged for account maintenance.
-bank statements are issued to account holder monthly


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