Disadvantages of Savings account
Answer Text: Disadvantages of Savings account:-A minimum balance must be maintained at all times and the customer is denied access to that money.-For across the counter withdrawals, it is only the account holder who can withdraw cash.-Withdrawals are restricted and sufficient notice is required before large amounts are withdrawn.-The account holders do not enjoy services such as cheque books and overdraft facilities like the current account holders.-Easy access to the money through ATM cards encourages overdrawals.-Anybody who knows the pin of the card (ATM card) can withdraw money from the account.
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