Ms.Harshali has started new business two years ago. Her customers are located in different parts of the country and hence they are directly depositing bill amount in her business account. At the same time she used to pay various payments from this account only. 1)Identify Type of account maintained by Ms. Harshali. 2) Suggest any one modern way of money transfer to Ms.Harshali. 3) What kind of facility does she get on her bank account?
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The type of account maintained by Ms. Harshali is the current account.
Explanation:
(i) Ms. Harshali is a businesswoman and hence she has maintained current account to suit the needs of her business.
(ii) NEFT which stands for National Electronic Funds Transfer is the one of the modern ways of transferring fund (money) from one branch to another branch or from one bank to another bank safely can be suggested to Ms. Harshall to transfer money.
(iii) Ms. Harshali gets overdraft facility on her current account.
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