A basic bank account may be of two types- a current account or savings account. While a current account is usually used by companies for their transactions, savings accounts can be started by anybody who wants to use the most basic of banking facilities. Basic bank accounts usually include checking facilities and an ATM cum debit card.
Why Have Basic Bank Accounts?
A bank account is a great way to direct your income to a single place and start your savings. The checking facility is a great help while making payments. The debit card that comes with most bank accounts can be used to automatically deduct money for monthly payments and access instant cash when you go shopping or even at restaurants, supermarkets and
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