A current account is beneficial to its holder as?
-
cheques can be issued to anybody
- customers cannot withdraw frequently
- it is only the holder that can make withdrawals
- it allows customers the use of passbooks
The correct answer is: A
Explanation
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.