02
Current Account
A high-frequency ledger built for businesses and individuals who transact often.
Overview
How this ledger works
The Current Account carries no interest but removes the withdrawal limits of a savings ledger. It's built for people and small operations moving money in and out multiple times a day, with an overdraft facility modelled for short-term cash gaps.
Key features
- Unlimited deposits and withdrawals
- Optional overdraft facility (illustrative)
- Cheque-book style reference numbers (demo)
- Multiple authorised signatories supported
Who it's for
- Sole proprietors and freelancers
- Small business owners
- Individuals with high transaction volume
Rates & charges (illustrative)
| Detail | Value |
|---|---|
| Minimum opening deposit | $0.00 |
| Interest paid | None |
| Illustrative overdraft limit | up to $2,000.00 |
| Overdraft rate (illustrative) | 13.50% p.a. |
| Monthly maintenance fee | $5.00 (waived over $1,000 balance) |
Frequently asked
No — in this model, current accounts trade interest for unlimited transaction flexibility.
No, it's modelled as an optional facility that would be assessed separately in a real bank.
Yes, the model allows multiple authorised signatories on one current ledger.
Express Interest
Open this account
confirmation
Your interest in a Current Account has been logged in mode only. Reference no. EDU-000000. No real action has been taken.