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

View answer & explanation

Correct answer is A

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.

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