This is an account for an individual in his/her name that accords the right of receiving or paying out money through cheques. It is a medium for accessing loans from the bank.
This current account is opened and run by incorporated company, sole proprietorship, partnership, church, club and other associations with benefits of receiving in and paying out funds through cheques, and is a medium of accessing loans from the bank.
This account is opened for an individual who wishes to operate a current account but may not be able to provide the acceptable means of identification. The in-house cheque which cannot be presented in the clearing house is issued to the individual for funds withdrawals. He/She can access micro loans through the account.