Keyword Analysis & Research: current account


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What are the features of a current account?

The main features of current account are as follows:- Current bank accounts are operated to run a business. It is a non-interest bearing bank account. It needs a higher minimum balance to be maintained as compared to the savings account. Penalty is charged if minimum balance is not maintained in the current account.

What determines the current account?

Key Takeaways The nation's current account is its imports, exports, net income, asset income, and direct transfers. A positive current account means the nation earns more than it spends. A negative account means it spends more than it earns. The trade balance (exports minus imports) is the largest component of a current account surplus or deficit. More items...

What are the advantages of a current account?

Benefits of Current Account. Holding a current account has the following advantages: Interest earnings on balance. Faster and trouble-free access to cash. Electronic payment. Checkbook facility for non-cash payments. Overdraft facility. Management of usual payments like wages and expenses.

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