What is a current account deposit?

The current account (or current account balance) is a component of the international balance of payments. The current account records transactions in goods, services, and investment income.

The international balance of payments (international balance) is understood as a systematically compiled record of transactions in goods and services of a country carried out by individuals, businesses residing in the country, or by the government of that country.

The international balance of payments consists of the following components: Current account, Capital account, Changes in state foreign exchange reserves, and Error item.

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Transactions recorded in the current account include:

- Transactions involving goods: typically tangible movable assets such as machinery, televisions, refrigerators, etc.

- Transactions related to services such as insurance, travel , transportation, telecommunications, etc.

- Income sources such as resident salaries paid by non-residents, income from direct investment, foreign deposits, and interest payable on foreign debt.

- One-way current transfers such as gifts, donations, and non-refundable aid...

The current account, or current account balance, is composed of the following components: the balance of trade in goods, the balance of trade in services, the balance of income, and transfers.

The benefits of current account deposits

Earn interest on your account balance.

Open an account in one place and you can trade in multiple places.

Safe, accurate, and absolutely secure payment transactions.

You can use more than your account balance when participating in an overdraft product.

Using cashless payment methods meets the need for speed, safety, and convenience.

Use online banking services (Internet Banking and HomeBanking) to make payments/transfer money/get instant updates on transaction history, statements, and inquire about exchange rates/interest rates…

Minh Huong (compiled)

Source: https://vtc.vn/tien-gui-vang-lai-la-gi-ar852082.html