What is a current account ?
A current account is a financial account that allows to carry out operations of receipts and disbursements with your of Benin MicroFinance. A BMF, The holding of a current account provides many advantages including :
-Possibility to have a credit ;
-Ability to make zero-rate withdrawals;
-Possibility of making depositsn;
The current account, also called current account, check account or deposit account, is the main account that connects you to Benin MicroFinance. It is the one that allows you to cash out your credits or savings in order to invest in your activities or to cope with your daily expenses.
The account statement
For each bank account there is an account statement which allows you to see the expenses (« debit ») and cash receipts (« credit »). Each of these expenses is dated and a wording makes it possible to match the object of the transaction (withdrawal, deposit, credit, etc.). In front of each amount credited or debited. Each statement shows the new balance, whether positive ("credit balance") or negative balance ("debit balance").
Opening and operating conditions
To open a current account, you must be at least 18 years of age. The Benin MicroFinance agent in charge of registering you will ask you to provide a certain number of documents, namely a copy of an identity document, proof of domicile.
In addition, any account opening makes it compulsory to sign a current account agreement between Benin MicroFinance and the account holder. This document determines the general operating conditions of the account.
Only the holder of the current account may carry out the various transactions, unless the holder has granted a third party a power of attorney on his account.