The current account is best thought of as a business account. It is not intended for cash accumulation and it pays no interest. It is specifically designed for continual deposits and withdrawals. Cancelled cheques are usually mailed monthly to the holder of the account, but they can be obtained daily if the account is very large. Canceled cheques are a valuable source of records, especially since many firms today do not issue receipts for accounts paid by cheque. Statements are also usually mailed to you monthly, although you have a right to ask for one whenever you wish. 

The account has a service or operating charge normally computed on the following basis: one free entry is allowed per month on the account for every $50.00 of minimum monthly credit balance, and 10¢ is then charged for each entry, either debit or credit, with a minimum charge of $1.00 per month. The service charge usually increases if the balance in the account is low compared to the activity of the account. This type of account is best used by a business which makes many deposits and withdrawals every week, and which requires canceled cheques to be returned to it regularly. Some householders also use a current account because they want the monthly statements and the regular return of canceled cheques