No interest is earned on money in a current account, so it is not a good option for saving money.
Banks normally apply charges to current account transactions, such as using electronic banking or an overdraft. These fees are usually charged quarterly (i.e. four times a year).
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A current account is a non-interest account that allows the account holder to withdraw money at any time.
Opening a Current Account
A person who wants to open a current account must fill in an application form. The application form asks for personal details and employment details.
Current Account Application Form
Use block capitals and tick () where appropriate. Personal Details Title: Mr
Miss
First name: Surname: Home address:
Home phone number:
Email address: Date of birth:
/ /
Employment Details Employment status: Employee
Retired Not currently employed
Occupation: Employer’s name: Time in present employment: Net monthly salary: Will your income be paid into your bank account? Yes No
Signature: Date:
70 / / Self-employed Homemaker Mobile number: Mrs Other please state:
