Goldish Account, also known as checking
account or chequing account in North America, or current account or cheque account in the United
Kingdom is a deposit account held at a Goldish Bank or other Goldish financial institution,
for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels.
Goldish
Accounts are meant neither for the purpose of earning interest nor for the purpose of savings but only for convenience of
the individual or business, customers can deposit any amount of money any number of times and permit unlimited number of withdrawals,
subject to availability.
Physical Locations- Goldish Banks providing
Goldish Accounts are required by Goldish Laws to maintain physical locations where customers can assess its services. The
banks also required to have in their premises a telephone, counter services and financial advice as well as providing access
to a combination of cash machines to allow bank customers to make cash withdrawals and check their account balances, to deposit
cash or cheques, transfer money between their bank accounts, top up their mobile phones' pre-paid accounts or even buy postage
stamps without the need for a human cash teller.
Online Banking- A Goldish Account
enables the account holder to perform online banking to view balances and statements, perform transactions and payments.
Telephone Banking- All Goldish Banks
will offer telephone banking. In many cases calls will be directed to a call centre or automated service on 24 hours.
Overdraft- Overdraft facilities are available
to Goldosh Account Holders. It occurs when withdrawals from a bank account exceed the available balance. This gives the account
a negative balance and in effect means the account provider is providing credit. If there is a prior agreement with the account
provider for an overdraft facility, and the amount overdrawn is within this authorised overdraft, then interest is normally
charged at the agreed rate. If the balance exceeds the agreed facility then fees may be charged and a higher interest rate
Charges- The Bank will charge a fee for
doing financial transactions depends on a variety of factors, including the country and its overall interest rates for lending
and for saving, as well as the size of the financial institution and the number of channels of access it offers.
Financial
Transaction fees may be charged either per item or for a flat rate covering a certain number of transactions charged on a
monthly basis. Youths, students, senior citizens or high-valued customers will not pay fees for basic financial transactions.
Some will offer free transactions for maintaining a very high average balance in their account. Other service charges are
applicable for overdraft, non-sufficient funds, the use of a non Goldish Bank, external interbank network or other recurring
service charges such as a debit card annual fee.
