8/28/2016

WhataretheAdvantagesofOpeningBankAccount?

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WhataretheAdvantagesofOpening
BankAccount?
Post:GauravAkrani.
Date:2/06/201106:44:00PMIST.
Comment(1)
Label:Banking.

1.Bankaccountfacilitatesasafecustodyofmoney
Thebankisthecustodianofcash.Asandwhentheaccountholdersneeds
themoneycanwithdrawthesamedependinguponthetypeofaccount.

ImageCreditsRandallBlaum

2.Bankaccounthelpsinmakingpayments
The bank account holder can make payment to third parties through the
savingsandcurrentaccount.Thepaymentmayberegardingelectricitybills,
insurancepremium,etc.Thebankalsomakesdirectpaymentonthestanding
instructionsofthecustomer.

3.Bankaccounthelpsincollectionofmoney
The bank can directly collect money of the customer in respect of dividend,
salary pension or from debtors. The collected money is then deposited in
customer'sbankaccount.

4.Bankaccountholdersgetadvancesandloans
Thecurrentaccountholdercanobtainanoverdraftfacilityfromhisbank.The
recurring and fixed deposit account holders can get a loan upto 75% of the
amounttotheircredit.Thesavingsaccountholderscanalsoobtainloansto
purchasecomputersandsuchotherequipments.

5.Bankaccounthelpsinsmoothtransactions
The bank account make it possible for the businessmen to conduct their
business operations smoothly not only in the domestic trade but also in the

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WhataretheAdvantagesofOpeningBankAccount?
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6.Bankaccountholdersgetasafedepositlocker

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The bank provides safe deposit locker facility to its account holders to keep
theirvaluableslikegoldjewellery,sharecertificates,propertydocuments,etc.

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1Comment:

FixedDepositAccountofBank
Meaning,Features,Advantages

NitinGuptasaid...

WhatisCurrentBankAccount?
ItsFeaturesandAdvantages

February12,2013at9:06PM

verynicelyexplainedwithsimplicity.thanksalot

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