Digital Marketing

A Guide to Current Digital Account

The current account is a deposit account created by request of the applicant and often made accessible. Individuals who engage in a high rate of banking activities must maintain a current account that connects to liquid deposits and gives a personalized experience. 

Read the facts below to gather important information regarding the current account. 

Current Account Types 

While opening the current account, you must be familiar with your needs. Here are the types of current accounts.

1. Standard Current Accounts

This is referred to as a non-interest account with a minimum balance required and pre-defined monthly balances. The benefits of current standard accounts include NEFT and RTGS transactions, internet banking, SMS banking, etc. 

Debit cards, chequebooks, overdraft facilities, etc., are all provided with current standard accounts.  

2. Packaged Current Accounts

The current package accounts offer various benefits to account holders. It also consists of additional services, like medical care, roadside help, travel insurance, etc., given to account holders.

3. Single-Column Cash Book

A single-column cash book is a cashbook that keeps track of daily transactions in different columns for credit and debit. It best fits businesses that do not maintain bank accounts. 

The account holders can easily make daily transactions through this account, but the feature of the overdraft facility is a lack in this account. 

4. Premium Current Account 

A premium account provides perks and special discounts. In addition, the account offers a range of personalized options for people who want to conduct important financial activities. 

5. Foreign Currency Accounts

A foreign currency account is best for businesses or people who want to conduct several transactions in foreign currencies. 

Difference Between the Current and Savings Account 

An important condition to begin a business is to have a valid bank account. To meet the different needs of businesses, banks give various incentives and offers on current accounts. 

Here are the following characteristics of current online account opening that contrast with savings bank accounts. 

  • Needs the high minimum balances. 
  • Permits the number of transactions through the bank.
  • It eases many transactions, like cash withdrawals, money transfers, and check deposits. 
  • It is operated by private and public companies, individuals, associations, trusts, etc. 
  • The number of transactions allows per day.
  • Penalty charges are also applied if you do not maintain the minimum balances. 
  • The KYC rules apply to savings accounts, as same as current accounts. 
  • There are not many current accounts for a single company.

Documents Need for Current Accounts. 

Here are the documents that you need to have current accounts. 

  • Address proof
  • PAN card
  • ID proof 
  • Cheque from an existing account 
  • Passport-size pictures of candidates 
  • Partnership agreement for existing companies 


A current account is important to open when you are required to make quick transactions, deposits, unlimited withdrawals, overdraft facilities, etc. All the above current accounts are best to have that are used to meet different purposes.

Also Read Interesting Articles At: Business Magzines.

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