HOW TO CHOOSE YOUR CURRENT ACCOUNT
while opening the current account with any of the bank, we should keep the following factors in mind. a good choice of current account can help in growing your business. It also helps in reducing the business expenses. some of the factors are as below:-
1). Total expected turnover and number of transactions-different banks provide the different type of current account to their customers. The same helps the businessman in smooth functioning of the current account. As if you are having large number of cash transactions , you can choose the current account which allows you which high value of cash transactions,
2). Banks Location:- In today's world where everything is shifting to the online. Many people think that the branch location doesn't matter. Whereas in practicle the location of the branch plays a major role in your business. you have to choose a branch which is near to your business premises or Residence.
3).Type of transactions in your business:- while choosing a good bank and good type of current account as per your business needs , you must give a due importance to the type of transactions needed in your business. As if your business needs lots of transactions in NEFT/RTGS, then you should look for the bank which is providing the low cost or NIL charges for the NEFT/RTGS/IMPS.
4). Internet Banking Interface:- While choosing the Current account for your business, you must keep in mind the requirement of a simple yet power packed internet banking interface. You must choose a current account which gives you the access for NEXTGEN Banking.
5). Charges:- while deciding on your banker you must compare the charges of different facilities and services in your account. These charges could be , Cheque Book Charges, Cheque Bouncing Charges, Non- Maintenance Charges, Ledger Folio Charges etc.
There are several other factors which could be a deciding factor while choosing your banker who can help you in your Business Growth.
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