What is a current account? A current account is a form of deposit account that allows, among others, payment by way of cheques 1. This Knowledge Base category highlights the basic requirements relating to the operation and...
What is a banker's cheque? This is a cheque drawn on the bank. This means that payment is guaranteed by the bank. It is often used in situations where the payment needs to be secured, e.g., payment for a large purchase item...
Under what circumstances can a current account be closed? An account can be closed under the following circumstances: On accountholder's request Accountholder must provide a written request and return any unused cheque leaves for cancellation On...
