Assistant Current Account and Branch Manager Interview Questions and Answers

KYC for business accounts involves verifying the identity of single and multiple users as a firm.

• Collect identification documents for all owners and authorized signatories

• Verify the business registration documents

• Check for any beneficial owners or ultimate beneficial owners

• Perform risk assessment based on the nature of the business and transaction volume

• Regularly update KYC information to ensure compliance

No, banks do not typically give interest on current accounts.

• Current accounts usually do not earn interest as they are designed for everyday transactions

• Banks offer savings accounts for customers to earn interest on their deposits

• Some banks may offer interest on current accounts but it is rare and usually comes with certain conditions

A current account is a type of bank account that allows frequent transactions and withdrawals.

• Current accounts are typically used for everyday banking needs such as paying bills, receiving salaries, and making purchases.

• They offer features like debit cards, online banking, and overdraft facilities.

• Interest rates on current accounts are usually lower compared to savings accounts.

• Examples of current account providers include traditional banks like HSBC, Barclays, and online ban...read more