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i. Any amount can be withdraw at any time during banking hours(without giving notice).
ii. No minimum balance is maintained hence one can use the money in the account(when in need).
iii. The account holder can conveniently make payments using cheque/without travelling to the
bank.
iv. Post dated cheque can be issued (by account holder) which can be honored at a later date.
v. Periodic statements are issued to for wish the a/c holder with information about the transaction
with the bank/is aware of the transaction in the bank/ can set timely reports to monitor cash in and
out of the bank.
vi. Can set bank overdraft facilities with the arrangement by the bank /by reposting the bank/by
modifying the bank.
gideon1 answered the question on September 25, 2017 at 10:24
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