How much does it cost a bank to run a current account for a year?
Answers:
See,
Nowdays the current account does not cost anything to bank in real sense. The banks these days are charging whatever services they have rendered. The bank invest initailly big amount for the technology and the technology normally was lots of unused capacity. So, It cost nothing to the bank to maintain your account. Moreover, you might already know that the bank does not pay interest for current account .
If you are trying to be more micro, then the cost to maintain a current account involves the following:
-The stationary used while opening account
-The banks normally keeps a hardcopy of all the finanacial transaction in the printed form. There comes the print out of your account also. This might cost something to the bank in the form of paper used in it.
-The bank normally issue the check s without charges, this is also an expenditure to your account.
- And there might be some indirect cost such as space occupied by your account in the server, the occasinal visit of the customer in the bank and the cost the bank spend to serve you.
I guess this much will satisfy you.
Depends on how much is in the current account. Banks use your capital in stocks so they are gaining from you. Then there is all the other charges to consider, if u have an overdraft, they charge, late payment, they charge, letter out to you, they charge, phonecalls, etc etc.
Hate Banks actually come to think of it. You're always on hold for ages too when u call.
Thanks for your question, may well close my current account now! lol
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