Though businesses are expected to use a current account for receiving payment from customers there are many well connected high status frauds who fake ownership of the current account of small online business owners. Has anyone switched from using a current account to a savings account?
Using savings account instead of current account
- Thread starter neku
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I haven't done this for my account. I'm still using my savings account as a small business earner. Do people hijack others accounts? this is new to me
It is being done at the highest level, income tax department records are being manipulated and frauds are allegedly getting monthly government salaries for faking ownership of the bank account since 2010.
In my country, about the 99% of the banks offer current accounts together with savings accounts. In any way, to receive payments (especially online payments), it's securer to receive them to current accounts, as it may happen savings accounts aren't recognised by the customer's processor and the payment could get lost.
eLdavis
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I have a current account but I have not had any issue about being scammed or hacked with it. I use both a current and savings account.
I do not have a business. I have a savings and current account. However, since I do not write checks nowadays, I seldom use my current account.
Savings account is the only account that I have. It is mostly businesses that open current account in my country.
Earlier it was possible to make plenty of money online so a current account was used. Now online investors from poorer communities are denied opportunities, are victims of government slavery so they make less their salary 25 years ago.
