JAMB - Commerce (2006 - No. 18)
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
Paskaidrojums
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.