Get premium membership and access revision papers with marking schemes, video lessons and live classes.

Processing. Please wait.

Advantages of current accounts

Answer Text:
Advantages of current accounts:
-No minimum balance is maintained hence the account holder can access all his/her money.
-Withdrawals can be made at any time.
-Transactions are made easier by use of cheques for example; one does not have to go to the bank in order to make payment
-It is possible to deposit any amount at any time during the office hours.
-Use of cheques as means of payment serves as evidence of payments made
-The account holder can withdraw any amount at any time without notice as long as there are sufficient funds in the account.