explain the account generally opened in the banks
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ᴄᴜʀʀᴇɴᴛ ᴀᴄᴄᴏᴜɴᴛ sᴏᴍᴇᴛɪᴍᴇs ᴀʟsᴏ ᴄᴀʟʟᴇᴅ ᴀs ᴏᴘᴇɴ ᴀᴄᴄᴏᴜɴᴛ ɪs ᴏɴᴇ ɪɴ ᴡʜɪᴄʜ ᴍᴏɴᴇʏ ᴄᴀɴ ʙᴇ ᴅᴇᴘᴏsɪᴛᴇᴅ ᴀɴᴅ ᴡɪᴛʜᴅʀᴀᴡɴ ᴀᴛ ᴀɴʏ ᴛɪᴍᴇ ᴅᴜʀɪɴɢ ᴡᴏʀᴋɪɴɢ ʜᴏᴜʀs ᴡɪᴛʜᴏᴜᴛ ɢɪᴠɪɴɢ ᴀɴʏ ɴᴏᴛɪᴄᴇ ᴛᴏ ᴛʜᴇ ʙᴀɴᴋ. ᴄᴜʀʀᴇɴᴛ ᴀᴄᴄᴏᴜɴᴛ ᴡᴀs ɪɴᴛʀᴏᴅᴜᴄᴇᴅ ᴇsᴘᴇᴄɪᴀʟʟʏ ᴛᴏ sᴜɪᴛ ᴛʜᴇ ɴᴇᴇᴅs ᴏғ ʙᴜsɪɴᴇssᴍᴇɴ.
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By opening an account in a bank, the customer enters into a relationship with the banker. The bank undertakes to honour the cheques drawn by the customer as long as his account shows a credit balance.
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