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A current account is great for managing your day-to-day money. You can receive regular payments such as wages, benefits, tax credits or pensions into your account, and set up payments out of your account in whichever way you find convenient. 1  What you can do with a current account. With a current account you can: 1  receive payments directly into your account. 2  pay cheques into your account – sterling cheques are free to pay in and take six business days to clear. 3  pay for things with a debit card. 4  withdraw cash over the counter or from a cashpoint machine. There are a few specialist money transfer credit cards that let you pay cash into your bank, so you can pay off your overdraft, then you owe it instead. The top pick card gives you 24 months at 0% in which to clear your overdraft though you will pay a 1.89% fee to transfer the cash to your bank account. Best Answer: There is no limit to keep funds in your Savings and Current Account. But it will be advisable to keep funds in fixed deposit account if these are surplus for longer period. Source(s): Retired Banker. Gopal · 6 years ago. Report Abuse. There is no limit but this amount should be legal which you have to show as a white money if asked by the Income Tax Department. Source(s): Two years back I asked the PNB manager,if our savings is taxable or not.He answered that there is no tax on saving account either it is one or two crore rupees. 1 Never go over your agreed overdraft limit, as charges are a hefty 5 PER DAY if you do. 2  There's no minimum amount that you need to pay in, although if you pay in 1,000 or more a month, you'll get interest for any time you're in credit - 5% on balances up to 2,500 in the first year, then 1% afterwards. (The monthly limit is based on when the transaction is processed, not when the check or item was written or authorized.) If you make a combination of checks/drafts and automatic or preauthorized withdrawals, the total limit is still six. When it comes to transactions, all accounts are not created equal.
https://www.moneyadviceservice.org.uk/en/articles/current-accounts http://www.moneysavingexpert.com/banking/compare-best-bank-accounts https://in.answers.yahoo.com/question/index?qid=20091208010921AAwsJzu https://in.answers.yahoo.com/question/index?qid=20091208010921AAwsJzu http://www.moneysavingexpert.com/banking/compare-best-bank-accounts https://www.ussfcu.org/limit.php
is there a limit for money in a current account