Question

VIsit a bank and write all the procedure of banking.

Answer 1

Answer:

A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share draft account at credit unions, is a deposit accountheld at a bank or other financial institution. It is available to the account owner "on demand" and is available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of debit cards, cheques (checks) and electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds. In accounting terms they are considered as cash.

Transaction accounts are known by a variety of descriptions, including a current account (British English), chequing account or checking account when held by a bank, share draft account when held by a credit union in North America.[1] In the United Kingdom, Hong Kong, India and a number of other countries, they are commonly called current or cheque accounts. Because money is available on demand they are also sometimes known as demand accounts or demand deposit accounts. In the United States, NOW accounts operate as transaction accounts.

Transaction accounts are operated by both businesses and personal users. Depending on the country and local demand economicsearning from interest rates varies.[2] Again depending on the country[3] the financial institution that maintains the account may charge the account holder maintenance or transaction fees or offer the service free to the holder and charge only if the holder uses an add-on service such as an overdraft.[4]

Answer 2

Answer:

Explanation:

"Here are a few procedures that take place in a bank:

Cash deposit, in which an account holder deposits cash in his bank account

Cash withdrawal, in which an account holder withdraws money from his bank account

Cheque deposit, in which an account holder deposits a cheque in his bank account

Account opening, in which an individual opens an account in the bank

KYC update, in which an account holder updates his KYC details"