Question

research a checking account available from a financial institution write to explain the features of one...

research a checking account available from a financial institution write to explain the features of one of the accounts you research including the include the following in your answer

write a few sentences to describe three special features of the account

list two positive features of the type of account include reasons

list two drawbacks of that type of account

suggest the type of person who should use that type of account

Homework Answers

Answer #1

Features of the account

Lets assume its a current account of a propritor using for its business purpose. It is a special type o account where in the traansactions can be done on daily basis and no restriction on minimum balance.

Positive features

1. It is specially treated account and banker gives special attentions on all the transactions and smothen the transactions.

2. such account also gets special benefit of over draft.

Negative features

1. Such account may be used by banker to get confidential information of propritor and his vendor transactions.

2. banker also manupulates propritor to invest the balance in third party products.

Type of person should use the type o account

Such type of account can be used by propritors or partnership firm where the volume of transaction is very high.

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