A current account agreement is a legal document that outlines the terms and conditions for a bank`s current account. This agreement covers the services provided by the bank, its fees, and the customer`s responsibilities regarding the account.

In general, a current account agreement outlines the following:

1. Account Details: The agreement includes the account number, account holder`s name, and other essential account details.

2. Account Services: This section of the agreement outlines the services that the bank provides to the account holder. These services include ATM card, checkbook, online banking, and other related services.

3. Fees and Charges: The current account agreement details the charges and fees associated with maintaining the account. It covers monthly maintenance fees, overdraft fees, transaction fees, and other charges.

4. Overdrafts: The agreement outlines rules regarding overdrafts, such as overdraft fees, minimum balance requirements, and other relevant information.

5. Security: The agreement covers the bank`s security measures to protect the account holder`s personal information and funds.

6. Termination and Closure: In this section, the agreement outlines the procedures for closing or terminating the current account.

It is important to read and understand the current account agreement before opening an account. The agreement is a legal document that outlines the bank`s responsibilities and the account holder`s responsibilities regarding the account. Failing to comply with the agreement could result in penalties and charges.

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