Even though the yield on saving account is well below inflation rate, it would seem a better idea to open Corporate Saving Accounts as checks are now acceptable by commercial bank
Whilst Current Account do pay intrest to depositors, Saving Account pay higher, albeit negative real rates..
The point remains, the SMEs must seek all ways to reduce costs and enhance shareholders value.
“savings account customers with BVN should be allowed to deposit cheques worth not more than N2,000,000.00 (Two million naira) into their accounts, per customer, per day.”
Read more at: http://www.vanguardngr.com/…/cbn-directs-banks-accept-cheq…/