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Nairaland Forum / Nairaland / General / Business / What Is The Difference Between A Current Account And A Savings Account? (47930 Views)
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Re: What Is The Difference Between A Current Account And A Savings Account? by dottozil: 8:35am On Nov 15, 2019 |
EgunMogaji2: This rubies account is it for real 1 Like |
Re: What Is The Difference Between A Current Account And A Savings Account? by Nobody: 8:36am On Nov 15, 2019 |
sterlingD:okay. Noted. |
Re: What Is The Difference Between A Current Account And A Savings Account? by Nobody: 8:37am On Nov 15, 2019 |
dottozil: COT Is Been charged (one naira per mile) |
Re: What Is The Difference Between A Current Account And A Savings Account? by dottozil: 8:40am On Nov 15, 2019 |
happydays1: Thanks alot, but am more concerned about the daily transfer limit of both how much can u send out or receive in a day in a current account with the use of token |
Re: What Is The Difference Between A Current Account And A Savings Account? by mfm04622: 8:44am On Nov 15, 2019 |
dottozil: The beginning is to ask why you want a current account? What benefit do you think a current account will give you that a savings account won't? The only difference between a saving and current account is the fact you can give a cheque to another person to withdraw money from your account without you being present. You can also deposit cheques into your current account but can't do this for savings. For savings account, you have to present yourself to withdraw money. Apart from that, interest on savings account is usually higher. That is all 2 Likes |
Re: What Is The Difference Between A Current Account And A Savings Account? by mfm04622: 8:45am On Nov 15, 2019 |
Ekehwinz: No limit for any account except the account was opened without complete KYC documentation |
Re: What Is The Difference Between A Current Account And A Savings Account? by JayPeeOham: 8:51am On Nov 15, 2019 |
Nigerians tend to mix this up. In simple terms, Current account is supposed to be the everyday account used for deposits, withdrawal and all those daily transactions. while Savings account as the name goes is to be used strictly for savings. But unfortunately, the reverse is the case in Nigeria. 2 Likes |
Re: What Is The Difference Between A Current Account And A Savings Account? by dottozil: 8:53am On Nov 15, 2019 |
sterlingD: Chai me no know this o |
Re: What Is The Difference Between A Current Account And A Savings Account? by RUDEBOYY(m): 8:57am On Nov 15, 2019 |
nototribalist: Use mobile banking and top it ur phone with 50 naira airtime |
Re: What Is The Difference Between A Current Account And A Savings Account? by dottozil: 9:00am On Nov 15, 2019 |
mfm04622: Thanks, I thought daily transaction limit on current is more than that of savings |
Re: What Is The Difference Between A Current Account And A Savings Account? by witworth(m): 9:02am On Nov 15, 2019 |
Solsix:That's why the great pablo escobar never kept any of his penny in any bank, because each bank is a den of thieves. whether current or savings, they are both charging. |
Re: What Is The Difference Between A Current Account And A Savings Account? by legalwealth(m): 9:08am On Nov 15, 2019 |
sterlingD: Do you work with sterling bank or are you one of their marketers? |
Re: What Is The Difference Between A Current Account And A Savings Account? by francdec4(m): 9:12am On Nov 15, 2019 |
Which one is preferred by the embassy for visa issuance as proof of fund. Any idea? RichDad1: |
Re: What Is The Difference Between A Current Account And A Savings Account? by johnad3(m): 9:14am On Nov 15, 2019 |
dial *737# or *777# nototribalist: |
Re: What Is The Difference Between A Current Account And A Savings Account? by yomalex(m): 9:14am On Nov 15, 2019 |
Paulo3ree:wetin be pgb? |
Re: What Is The Difference Between A Current Account And A Savings Account? by RichDad1(m): 9:15am On Nov 15, 2019 |
francdec4:Anyone. As long as you can provide your account statement with sufficient funds and transactions. 2 Likes |
Re: What Is The Difference Between A Current Account And A Savings Account? by Paulo3ree(m): 9:19am On Nov 15, 2019 |
yomalex:Progressively getting blurred |
Re: What Is The Difference Between A Current Account And A Savings Account? by ennypita: 9:22am On Nov 15, 2019 |
A current account is the account u have currently while savings account is the account that your are saving or planning to have in the future. The difference is that current account is like a present tense while saving account is the future tense. Na joke oh. |
Re: What Is The Difference Between A Current Account And A Savings Account? by mikaael(m): 9:35am On Nov 15, 2019 |
Brandstudio01: He forgot to add issuance of cheque book |
Re: What Is The Difference Between A Current Account And A Savings Account? by ALEGETEMITOPE(m): 9:38am On Nov 15, 2019 |
nototribalist:use it to buy airtime |
Re: What Is The Difference Between A Current Account And A Savings Account? by paix(m): 9:54am On Nov 15, 2019 |
nototribalist:Yes you can. Go to the ATM and buy airtime for yourself. |
Re: What Is The Difference Between A Current Account And A Savings Account? by mu2sa2: 9:59am On Nov 15, 2019 |
RichDad1:EOD 1 Like |
Re: What Is The Difference Between A Current Account And A Savings Account? by SweetDipBenny(m): 10:06am On Nov 15, 2019 |
nototribalist:too bad.send ur acc |
Re: What Is The Difference Between A Current Account And A Savings Account? by yomalex(m): 10:15am On Nov 15, 2019 |
Paulo3ree: |
Re: What Is The Difference Between A Current Account And A Savings Account? by Paulo3ree(m): 10:35am On Nov 15, 2019 |
yomalex:Bro let's go for a break 1 Like
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Re: What Is The Difference Between A Current Account And A Savings Account? by UrVillagePpl: 10:57am On Nov 15, 2019 |
eleojo23:Hello namesake |
Re: What Is The Difference Between A Current Account And A Savings Account? by pocohantas(f): 11:16am On Nov 15, 2019 |
These days it mostly nomenclature, because in a bid to escape charges(COT)- banks have rolled out a thousand variants of current accounts and saving accounts too. Now there are savings accounts with cheque books. There are also corporate savings account. Just like there have always been, individual and corporate current acct. Ideally, current acct is supposed to be the acct for your daily transactions, not your savings acct (which is supposed to sit pretty and earn INTEREST). ... but we have it all mixed up here. Though there are services Current acct holders can access. Like loans. 1 Like |
Re: What Is The Difference Between A Current Account And A Savings Account? by telad(m): 11:21am On Nov 15, 2019 |
nototribalist:buy 50naira airtime and sell to yyour friend to collect cash. |
Re: What Is The Difference Between A Current Account And A Savings Account? by ADEMOSU(m): 11:23am On Nov 15, 2019 |
[quote author=dottozil post=84025927] Thanks alot, how do the COT work, cos am interested in upgrading my savings account into current and I won't want unnecessary charge.[/quote You cannot upgrade a savings account to current account . You either upgrade a savings to another type of saving e.g Hybrid (feature of saving n current). Or you open a new current a/c |
Re: What Is The Difference Between A Current Account And A Savings Account? by Weirdgee: 11:26am On Nov 15, 2019 |
eleojo23:yea u are right, but am sure he asked the question here so that he would know more from experts here. |
Re: What Is The Difference Between A Current Account And A Savings Account? by deavicky(m): 11:41am On Nov 15, 2019 |
Current is where keep money anytime u want to withdraw the money it shocks you, because of the high current. While saving account is where u save petty petty money without fear of being shock by electricity. |
Re: What Is The Difference Between A Current Account And A Savings Account? by dottozil: 12:40pm On Nov 15, 2019 |
[quote author=ADEMOSU post=84047382][/quote] Woow thanks |
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