What Is a Current Account?

A current account is the most common account in a bank, and the funds are paid by the customer. The customer can also ask the boss to put his salary or salary into the account by means of a bank credit transfer slip. Although some customers only use their accounts as payment authorizations or direct debits to process payments, customers generally pay by check. Funds can be withdrawn at any time, or withdrawn by check in the account bank, or issued to others.

savings account

discuss

A current account is the most common account in a bank, and the funds are paid by the customer. The customer can also ask the boss to put his salary or salary into the account by means of a bank credit transfer slip. Although some customers only use their accounts as payment authorizations or direct debits to process payments, customers generally pay by check. Funds can be withdrawn at any time, or withdrawn by check in the account bank, or issued to others.

Chinese name

savings account

Features

Keep credit balance

Field

economic

Nature

noun

The current account should always maintain a credit balance, unless advance overdraft arrangements have been made. These arrangements include a limit agreed on the books, which must not be exceeded when making a withdrawal.

Interest is calculated based on the bank's benchmark interest rate plus a percentage point, and is calculated on a daily overdraft amount and is debited to the account semi-annually. With regard to authorized overdrafts, the bank's commitment to arrange overdrafts and funds can also charge special fees, whether used or not. Overdraft accounts may require security.

When there is a credit balance in the current account, the bank does not pay interest. Instead, the bank charges a fee based on the number of transactions performed on the account. If fees are charged, these fees are debited to the account on a quarterly or semi-annual basis.

Most banks do not charge money for transfers to their accounts, but charges are added for debited money, such as payment checks, scheduled payments and direct debits. The fees for these items are calculated quarterly or semi-annually by the bank's computer, and these fees are offset by the "nominal" interest rate of the average credit balance of the customer during that period. Although no interest is credited to the account, no charge is made where the "nominal" interest rate exceeds the cost of the debit item.

Today, all banks publish their fees or explain them to their customers or when there is a potential customer inquiries.

Current account users have the right to handle most of the bank's services