Category: Entertainment

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Introduction to Current Account


Payments to my vendors, suppliers for electronic goods through Cheque, NEFT/RTGS. Payment to vendors for services like repair and maintenance of the shop. I receive payments from my customers against goods & services sold Payments & collections are Same city/other city Paying salaries to my employees Payment of utility bills like electricity bill, water bill, taxes etc. Customers make payments through cash, Cards, UPI Payments. Hi, My name is Ravi, I run an electronic store in Mumbai.


MR. Ravi MR. Kishor Banker Cash deposit and withdrawal limits Payments and Collections at doorstep . Payment and collections at other city Convenience of multiple channels Free Cash Limits based on business size Anywhere Banking Doorstep Banking . Internet Banking & Debit Card My Requirements Our Services


Current Account customers Doctors 06 01 02 03 04 05 Companies Lawyers Shopkeepers Institutions HUFs


Current Account – An Introduction Used for business purposes to fulfill business requirements No restriction on number of transactions Bank pays no interest; most profitable for the Bank For customers having businesses


Current Account - Terminologies Base Location refers to the all branches belonging to the same clearing zone in which account is opened Base & Non-base Branch Device that empowers merchants to accept and process card transactions Via Debit Cards / Credit Cards Electronic data Capture (EDC) Customer needs to maintain an average balance in the account as per account commitment. Monthly Average Balance System of electronic fund transfer from one account to another account Electronic clearing service (ECS) If CA Customer does not maintain the required average balance in the account in that month. Bank deduct the certain charges from the a/c balance. NMMAB Charges Total Sales generated by a business in specified time period Turnover


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