2007-10-07 15:35:11 · 3 answers · asked by namankada 1 in Business & Finance ➔ Taxes ➔ United States
current what?
2007-10-07 15:50:52 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Well the basic difference is that a current account is used (usage here means withdrawals and deposits)more frequently than a savings account. Current accounts have lower interest rates than savings account. The principle behind savings accounts is to have less transactions ( hence save money). Current accounts are operated by businesses since they have mutlitple transactions, they dont have limits on transactions such as 10 withdrawals per month etc.
2007-10-07 22:51:06 · answer #2 · answered by INDIANPRINCE 2 · 0⤊ 0⤋
A current account is more commonly known in the US as a checking account. You can't write checks against a savings account. The term "current account" is more commonly used in the UK for an account that you write checks (cheques) against.
2007-10-07 23:23:48 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋