Business Current Accounts

Business current accounts are meant neither for the purpose of earning interest nor for the purpose of savings, but for convenience of the business. Thus, business current accounts tend not to bear interest. Instead, a customer can deposit or withdraw any amount of money any number of times.

Business current accounts are deposit accounts held at a bank or any other financial institution. Business current accounts are meant for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels.

All financial transaction of business current accounts are offered in itemised lists either through a bank statement or a passbook. Cash money, cheque and money order, funds transfer, direct deposit, pre-authorized debit, automatic funds transfer and ATM card or debit card are some of the methods through which a business current account allows the account holder to make or receive payments.