Current bank accounts are very popular among companies, companies, public companies, businessmen who generally have a higher number of regular transactions with the bank. The current account takes into account deposits, withdrawals and counterparty transactions. These accounts are also called demand deposit accounts or checking accounts.
How can a hole in your pocket cause a hole in your gums? The answer is stress. Financial stress affects more than your wallet. It can have a ripple effect on your health and your interpersonal relationships. In no other process can our thoughts alter our bodily functions so suddenly and so powerfully.
Interest is the cost of using someone else's money. When you borrow money, you pay interest. Interest refers to two related but very distinct concepts: either the amount a borrower pays the bank for the cost of the loan, or the amount an account holder receives for the favor of leaving money behind. the bank. It is calculated as a percentage of the balance of a loan (or deposit), periodically paid to the lender for the privilege of using his money. The amount is usually stated as an annual rate, but interest can be calculated for longer or shorter periods than one year.
A money market account is a savings account with certain control features. It usually comes with checks or a debit card and allows a limited number of transactions each month. Traditionally, money market accounts offered higher interest rates than regular savings accounts. But nowadays, the rates are similar. Money markets often have higher deposit or minimum balance requirements than savings accounts, so compare your options before deciding on one.
In Africa, the choice of the type of bank account to create must be a deeply matured decision. The main reason being that the populations there are still very poor. The slightest bad choice could discourage some and further hamper financial inclusion.