This account is particularly suitable for companies, business organizations and entrepreneurs because chequescan be used with this account.Cash can be credited to current account. Payment can be made by cheques. Collection of money can be made in cheques. Moreover, if the standing instructions are provided to the bank in advance through making co-ordination, the bank can provide services like monthly transactions, payments and book transfers.
Accounts can be opened either individually or jointly by two and above or in groups like limited companies, solely owned companies, partnerships / joint ventures, co-operatives, social and religious associations and other clubs, trust accounts, local organizations and government organizations. Accounts can be opened with a minimum deposit of K1,000 and the balance shall always be kept at K1,000. All the holders of current accounts are issued with chequebooks. Either bearer cheques or ordered cheques can be used to the taste of the account holders.
Depositing / Withdrawing
- Regarding individual accounts, the account holder(s) can withdraw the money by signing.
- Concerning the joint accounts, drawings can be made by signing either jointly or by any party.
- Regarding companies, partnerships / joint ventures and organizations, drawing(s) can be made with the signing by the respective signing authorities who are vested with such authority by the decision of the authorities, board of directors, executive committees and administrative board.
Withdrawing by cheque(s)
Drawings from current account(s) can be made with the use ofcheques. If there are alterations and corrections on the cheque(s), the account holder(s) shall put on the full signature.
The following services are also offered to the current account holders
- collection of money, making payments;
- carrying out regular monthly transactions in the event of providing standing instructions to the bank in advance;
- lending is prioritized if loan terms are fully met;
- locker service is offered for valuable property; and
- Arrangements are made for bank guaranteed checks.
Sending monthly bank statements
Bank statements mentioning the deposit and withdrawal will be monthly sent at the beginning of a month to the current account holders. Bank balance acknowledgement certificate will be issued to the account holder(s) only upon request.