4 Ways In Which You Can Access Your Current Account

Posted by Rishank Rautela on July 19th, 2019

If you own a business in which you need to conduct regular, high value transactions, you may need a special bank account that enables you to make a higher number of transactions. This is possible only if you open a current bank account. Unlike a regular savings, this type of account is held by business owners and employers as it allows them to assess their cash in-and-out flow on a daily basis. This account can be opened on request and can be used for frequent, immediate transactions including depositing or withdrawing cash regularly. There are different ways in which you can access cash in your current account. Let’s find out what they are.

4 ways to access your current account

You can visit the home branch: You can access your current account by visiting your bank’s home branch. Visiting the home branch allows you to fulfil almost all of your banking needs which include cash deposits, cash withdrawal, and financial assistance and so on. Typically, you get a higher number of deposits and withdrawals as opposed to savings account with this kind of account. However, if you exceed the limit of deposits and withdrawal, you could be charged a certain fee.

You can use your cheque book: You could be travelling to a different city where you may need to access the funds in this account. As such, it is always better to carry your current account cheque book while travelling. Withdrawing money using a cheque is the most traditional way to access your funds. However, you can withdraw sums by using your cheque book at any branch across India and not just your home branch. Note that when you withdraw cash from a different branch, there may a limit on the amount of money you can withdraw.

You can visit the ATM: Today it is possible to do both, withdraw and deposit cash into your current bank account simply by visiting your bank’s ATM. This way you do not have to worry about visiting your branch during peak banking hours, when banks are crowded. You can simply carry out your urgent transactions at ATMs of your bank or other bank ATMs, if your bank permits current account transactions in other bank ATMs. That said, there is a limit on the number of ATM transactions you can make each month, and the withdrawal limit is also lower as compared to when you withdraw/deposit in your bank’s branch.

Internet and phone banking: With the internet and mobile banking facility, account holders can conduct a wide range of financial transactions including cash transfers, checking account statements, clearing payments and so on. Internet and phone banking saves a lot of time, making it one of the best ways to access your current bank account. This way, you do not have to wait in long bank or ATM queues and can conduct transactions in minutes. However, you need to know the maximum limit on transactions that can be conducted. You can also download the bank’s mobile application and conduct all these transactions via phone banking.

Current accounts come with a wide range of personalized options that help you deal with your finances on a daily basis. You can use this account to make payments to your creditors through cheque. Banks provide a significantly higher number of cheque transactions on these accounts. However, if you intend to open this account, you should know that you need to maintain a higher minimum account balance in these accounts as compared to savings accounts.