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Olusegunsamuel Omotayo


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Corazon HensonOghenekome IroboRajaraman K Recent answer authors
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Rajaraman K
Noble Member

It is a bank account in banks operated by businessmen. It offers no interest, but the money can be deposited and withdrawn as you like.

Oghenekome Irobo
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An account at a bank or building society from which money may be withdrawn without notice, typically an active account catering for frequent deposits and withdrawals by cheque. Overview. The current account is an important indicator of an economy’s health. It is defined as the sum of the balance of trade (goods and services exports minus imports), net income from abroad, and net current transfers. In economics, a country’s current account is one of the two components of its balance of payments, the other being the capital account. The current account consists of the balance of trade, net primary income… Read more »

Corazon Henson
Noble Member

I am a bank employee to answer your question. Current account is the checking account as differentiated from the savings account and time deposit account.

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