does current account have passbook (2024)

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A current bank account is a bank account from which you can withdraw money anytime you desire via cheque or withdrawal slips. When I opened a current account, I was in doubt about does current account have passbook and even asked a bank official about it. I learned that it does. A current bank account holder will also be provided with a chequebook, ATM card and more things.

What are the benefits of having a savings account?

There are several benefits of having a savings account like-

• They are convenient and secure for the storage of money

• The money in a current savings account can be accessed through ATMs, debit cards, and cheques

• They allow you to conduct electronic transactions and manage finances online.

• Direct deposit and automatic payment options for hassle-free transactions are possible through such accounts

• An overdraft facility for emergencies or temporary funds is also available

• Can be used for building a positive credit history and improving creditworthiness.

Is passbook necessary for bank?

Nowadays, people can download their bank statements online by visiting the net banking portal of their respective banks. But before this facility, the passbook needs to be updated to check all the transactions. In fact, passbooks are hard copies of all transactions. It helps you get a detailed history of where you spent the money, the credit/debit that happened in your account, and more. Having a passbook is always the safest option.

So this information should be enough to clarify does current account have passbook and why it is good to have it.

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