CURRENT ACCOUNT
IMPORTANT THINGS YOU SHOULD KNOW ABOUT THE ABOSOMANKOTERE CURRENT ACCOUNT
WHAT IS THE ABOSOMANKOTERE CURRENT ACCOUNT?
It is a form of account which entitles the owner to several services from the Union.
1. WOULD THERE BE ANY COT OR CHARGES ON MY TRANSACTION?
NO. There is no cost of transactions or any bank charges on a current account.
2. HOW OFTEN CAN I WITHDRAW MONEY FROM MY CURRENT ACCOUNT?
As many times as the member wishes. In addition, there would be no charges or penalty on withdrawals.
3. CAN I OWN/ACQUIRE SHARES IN ADDITION TO MY CURRENT ACCOUNT?
Yes, as a member of the Union, it is necessary to acquire shares to qualify you as a full member of the Union, otherwise you remain just a customer.
4. CAN I ACCESS A LOAN WITH MY CURRENT ACCOUNT? NO.
It is only with a savings account and shares that a member can use to access a loan from the Union.
5. CAN A MEMBER USE HIS OR HER CURRENT ACCOUNT TO GUARANTEE ANOTHER MEMBER’S LOAN?
YES, But this will prevent the member who has pledged his/her current account as a guarantee from withdrawing any money from his/her account till the colleague member finishes repaying the loan.
6. HOW DIFFERENT IS AN AbCCU CURRENT ACCOUNT FROM OTHER CURRENT ACCOUNTS?
There is no COT or charges Easy access to a members money when the need arises
No penalties on frequent withdrawals
IMPORTANT THINGS YOU SHOULD KNOW ABOUT THE ABOSOMANKOTERE CURRENT ACCOUNT
A third party can withdraw from a member’s account when proper authorization is given.
7. IS A CURRENT ACCOUNT CHEQUE TRANSFERABLE TO A THIRD PARTY?
YES ,where the necessary forms are filled by the holder of the current account.
8. CAN I REQUEST FOR A STATEMENT OF ACCOUNT ON MY CURRENT ACCOUNT?
Yes whenever the need arises and at no cost to the account holder.
9. HOW CAN I WITHDRAW MONEY FROM MY CURRENT ACCOUNT?
By using a current account cheque.
By using a withdrawal form from any of the Union’s branches.
10. HOW CAN I PAY-IN MONEY INTO MY CURRENT ACCOUNT?
By Personally paying–in at any of the Union’s branches
Through Mobile bankers or susu collectors
Through Bank deductions from sister banks/ Unions.
Through Paying-in of third party cheques
Through Credit transfer from sister banks/ Unions
11. CAN A CURRENT ACCOUNT CHEQUE BE CLEARED THROUGH THE BANK OF GHANA?
YES, Current Account cheques can be cleared through the Bank of Ghana when paid in at any sister bank/Union.
12. DO I HAVE TO CONFIRM WITHDRAWAL FROM MY CURRENT ACCOUNT WHEN A CHEQUE IS BEING PAID TO A THIRD PARTY?
YES, a staff must call to confirm from the holder of the current account to authorize a third party withdrawal.
13. ARE CURRENT ACCOUNT CHEQUES ACCEPTABLE FOR BUSINESS TRANSACTIONS IN GHANA?
YES, ACCU current account cheques are acceptable for any business transaction in Ghana.
It is a form of account which entitles the owner to several services from the Union.