A personal account is an individual account for a user and that is used for their personal needs. These are mainly used by corporate or business purpose.

• The personal account includes current account and it is also called as transaction Account.
• A current account is a deposit account which used for security and providing access to funds on demand.
• These are mentioned as demand accounts or demand deposit accounts.
• The personal accounts don't provide earning interest and savings.The current account is beneficial for business or personal customers.
• All transnational accounts provide lists of financial transactions through a bank statement or a passbook.These can permit the account holder to make or receive payments by cash money,cheque and money order.
• The transnational accounts also allow giro i.e.funds,transfer,direct,deposit and direct debits.
• These accounts follow standing order which also called as an automatic funds transfer.
• The current accounts provide ATM card or debit card which used for direct payment in a store without cash and these can also use SWIFT which refers to the International account to account transfer.

A Saving account is a deposit account which can be maintained by a bank or other financial institutions.

• This account can pay the interest and it can provide the security.
• This cannot be used to directly as money and it is a liquid benefit of demand accounts and money.
• A savings account is offered by commercial banks to have a limited number of transactions.
• A savings account allows to write checks to access the fund.
• All saving accounts provide lists of financial transactions through a passbook and also through a bank statement.

A deposit bank is a current account, savings account or any other kind of account at a bank that permits cash to be deposited and withdraw by the account holder.

• An Account holder can withdraw any deposited funds with terms and conditions. Some banks may charge for this service and the bank will be takes the responsibility for this account.The major types of deposit accounts are as follows.
• Checking accounts: A deposit account managed by a bank or other financial institution for the security and used to access the funds quickly on demand through several channels.These are also mentioned as demand accounts or demand deposit accounts.
• Saving accounts: In this Saving account is a deposit account which can be maintained by a bank or other financial institutions which can pay interest but can not be used directly as money.
• Money market deposit account: A deposit account is an account which consists high rate of interest and short notice or no notice for withdrawals.
• This is a style of instant access deposit subject to a monthly transaction limit in the United States.
• Fixed Deposit Time Account: It is a deposit account which cannot allow to withdraw for a fixed term or period of time.It is a time duration account and it is very useful for saving the large amount of money.

The Joint account is an account which can be shared by two or more individuals.

• In Joint account anyone holder can deposit and withdraw the money. Usually, these accounts can be shared between couples, relatives and business partners.
• It permits anyone named on the account to access funds.
• The joint account can be classifieds as Joint -tenancy account which can be owned by marrying couples only. In this, any individual owner can deposit or withdraw with the signature of any one of them.
• Tenants-in-common account is an account owned by two or more business partners. In this required signature of all owners for withdrawals.
• In this if two persons open an account and one of them dies, the other person is authorizing the remaining balance.

Time deposit: It is also called a certificate of deposit and fixed deposit.In this, it is a cash deposit at banking institutions but can not withdraw at any time. This allows to withdraw only after the fixed period of time or it can be held for another period of time. Numbered bank Account: A numbered bank account is an account where the account holder name should be kept as a secret.In this, the account holder consists of a code word which used to identify the account details and it can be known only by the account holder and some restricted employees of the bank. Money Market deposit account: It is a deposit account that can has high rate of interest and higher minimum balance to earn interest. Transaction deposit account:It is used by the Federal Reserve for check able deposits and other accounts that can be used directly as cash without withdrawal limits.

A cheque, or simply check, is a document that orders a bank to pay a specific amount of money from a person's/entity account to the person/entity in whose name the cheque has been issued.
The person writing the cheque, known as the drawer, has a transaction banking account (often called a current, cheque, chequing or checking account) where their money is held. The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay that person or company the amount of money stated.

• The Cheque can used to execute the business and can be described as a record to move cash in physical shape.
• The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay that person or company the amount of money stated.
• Payee is the person to whom the amount stated in the cheque is payable.
• A cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified transactional account held in the drawer's name with that institution.

Types of Cheques

• Order Cheque a payable to particular person or his order is called an order cheque.
• Blank Cheque is a cheque on which the drawer puts his signature and leaves all other columns blank.
• Bearer cheque is a cheque which is payble to bears.
• Multilated Cheque is used to torn into two or more than pieces.
• Post dated Cheque is defines as the cheque bears a date later than the date of issue.
• Open Cheque is a cheque which has not been crossed is called an open cheque.The drawe has cancellled the crossing at the request of the payee and affixs his full signature with the words crossing cancelled pay cash.
• Crossed Cheque which carries too parallel transverse lines across the face of the cheque with or without the words and co is said to be crossed.