asked in Business+Finance by ELITE (3,548 points) 3 7 11
Between savings accounts and current accounts, which one do you prefer and why? 

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answered by ELITE (3,091 points) 2 6 11
Account is like a wallet usually designed for customers for easy saving and transactions with the aim if monitoring aand sustaining a dependable financial transactions and satisfying customers desires. There are however, many or a lot of the types of account depending on desires of the customers, but the two most commonly used account are: current and saving account which both has its merit and demerit.
Left to me, I prefer the saving account since it support easy saving and lesser charges with each transaction. Apart from ATM charges, the maintenance changeschanges is not that high. The current account us actually designed for the salary earners and the charges is high per transactions even the use of its check book involves transactional charges.
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answered by LEGEND (6,078 points) 2 10 28
I prefer savings account and I only know about savings account because that is what every company I have been is providing me for bank account. I cannot have an have an option because it was given to me. I have been having savings account for less than 2 years now because that the time I am staying in my present company. It is affordable and economical, and even practical to have a savings account. I even can open another account, another savings account if I want too. I prefer it too. I do not have any complains so far. I have been working for less than 10 years now and I prefer savings account. I only have to open online banking to check my balance. I am comfortable with that and that is for me is the one understand the most when it comes to banking.
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answered by LEGEND (6,077 points) 6 9 22
I don't really think the issue of using either of the two types of accounts should be preferential, because it's obvious that there must be need for the current account to be opened. Without been told, I presume everyone out there would opt for the use of savings account, but they would be left with no other option than to open the current account, when there is transaction or investment that can't be run on savings account.

Speaking from personal experience, I never thought a day was going to come I would be running current account, because all along I been operating savings account, and I was so satisfied with services it offers me. But this status quo changed when I had a transaction that I couldn't make use of my savings account to carry out. That was when I was compelled to open current account regardless of the extra charges associated with it.
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answered by ELITE (3,005 points) 3 10 14
There are many reasons for people to make preferences for the type of bank account that they will be making use and I believe that it is dependent on some factors such as channel of income and all that.

I have been following closely and have come to understand that those that are able to make some huge incomes on a daily or weekly basis always look at having a current account as this is the way that they can handle their business in the simplest way.

I think that those that are still working out how to make money in a big way should think of having a savings account as you won't be targeting at having a current account that is tied to a whole lot of expenses that you may end up not paying up at the end of the day.
For me, I always prefer a savings account at this moment since it is a way that I tend to control some bank charges.
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answered by ELITE (3,642 points) 6 8 14
The savings and current are different, savings account us an interest-bearing account with certain limitations. I have tried to open an account this one before but, it was saving account at the same time I can use the money while its earning,and they charge more than the current savings account. Most saving accounts, you cannot withdraw money in it,but there are banks offering you to open a saving accounts that will earn specific percentage if you maintain the limit amount in it for few months.

On the other hand, current accounts is for general use accounts, this is what I am using regularly. This is i used regularly for my everyday expenses. But if I am really willing to save money each week, I can save,but that would be hard because it can easily get access and spend into anything.

If I can have both saving while using current account, I will,but I can't yet.

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