In today's changing financial world, entrepreneurs are realising the benefits of having more than one current account. It's not just about handling money; multiple accounts mean easier transactions and better control and flexibility over cash flows.
But the crucial question many have is: How many current accounts can I have? Knowing how to use multiple accounts effectively can help your business manage its money smarter and grow faster. Read on to find out more.
Why having multiple Current Accounts is good
Better cash flow management
Different Current Accounts can be used for different purposes - one can be used for bills and another for savings. This helps you clearly see where your money is going.
Enhanced financial organisation
It’s easier to keep track of your money when it’s spread across different accounts for different purposes, like personal spending versus business expenses.
Efficient budgeting
Having separate accounts can help you budget better by setting aside money in dedicated accounts for specific expenses.
Improved cash management
You can manage your money better by keeping it in different accounts, ensuring you always have enough for the important things.
Easy monitoring of business performance
If you’re running a business, having separate accounts for different parts of your business can help you see how each part is doing financially.
Convenient payment processing
Using different accounts for different types of payments can make your life easier, whether it's paying employees or handling customer refunds.
Also Read: Complete guide to opening a Current Account
Conclusion
The simplicity and speed of opening a Digital Current Account, especially one that can be set up in less than 24 hours with minimal requirements, makes managing multiple accounts a hassle-free experience.
Axis Bank's Digital Current Account streamlines this process even further. With no need for physical document verification, the convenience of instant account allocation, and benefits like free monthly cash deposits up to ₹1 lakh, it’s designed for efficiency and ease. Coupled with their custom offers and the NEO for Business platform, Axis Bank ensures that each Current Account serves as a powerful tool for financial management and business growth.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.
