When you decide to open a bank account, there is always a dilemma between savings and current account. Although the popular one is the savings account because it helps to fulfil financial goals, the current account is in demand amongst the business accounts. They are ideal for business owners who need to conduct different kinds of banking transactions daily.

The difference between saving account and current account is you can withdraw and deposit the sum into and from this account many times within a day and even conduct high transactions efficiently. In fact, the facilities you get from this account cannot be availed with any other.

The other facilities you can enjoy with current accounts are –

• Internet banking

It is one of the facilities that help you conduct a wide range of business transactions, making them indispensable owners. This service is offered free of cost when you opt for current accounts. You need to fill the application form and submit it to the bank while opening the account. The bank sets up net banking facilities which you can begin using after changing and setting passwords.

• Online account services

If you cannot visit the branch and open the account, you can easily open the account online. You need to select the desired bank, type of current account, and fill the application form along with the scanned copies of relevant documents. The bank corresponds through email, and once done, you receive the bank cards and net banking details via courier.

• Cheque collection services

Business owners receive and send cheques daily. But if you run a business, you may not have the time to drop the cheque in the bank every day. Precisely why check the collection services offered with current accounts. The bank representative visits your home or business place and collects and deposits the cheque for you, thereby saving the hassle of depositing them personally.

• High daily remittance

Another essential facility you receive with the current account is high daily remittance. You can transfer funds through services like NEFT and RTGS to over 99 banks and thousands of branches across India. Funds get transferred immediately, and you can also avail the DD and Pay Order services from the bank.

• Forex

Business owners travel a lot for work. For this purpose, you may need foreign currency, especially if you travel overseas. Therefore, get the forex service with current accounts. You can avail them at low conversion rates before the trip. Moreover, you can remit foreign currencies in foreign accounts immediately and seamlessly.