Hamburg

Current bank accounts are those that involve a contract between a financial institution and the customer which will establish a relationship of common commercial type, in which the two parties to make clear the movements and operations made between the two so that operations on a given date are liquidated. Holders enter certain funds to bank accounts for the Bank’s management, and can remove them at any time, without advance notice to the entity by such a transaction. In these operations the Bank can also advance a money in a credit transaction, customer will be obliged to repay with interest. Bank current accounts can be divided into different classes, applying various taxonomies criteria. First, you can define according to holders and of what kind they are. Thus, they may be holders of individual type, in which one person has the account in your name; They also jointly held accounts, where there are two or more responsible persons, so any operation must be approved by both, in whose cases required the signature of those responsible; It can also be the case of indistinct in which, as in the joint ownership share ownership among two or more persons but can perform any person who is authorized to make transactions with the account. Another type of classification of current bank accounts is according to how the interests are accrued.

There are bank accounts that have no interest, so it is not no payment to the holder for amounts deposited into the current account. The liquidation, is simply produced from the difference between the debits and credits. In current accounts that are of interest, the capitals will produce an additional amount between the date in that carried out the operation and when the account is settled. In this type of bank accounts, there are type reciprocal interests, which applies a same rate of interest equal to the capitals of creditor type as debtor type. The interests non-reciprocal are those that differ if it is debtor creditor capital capital. This type of account settlement arises not only from the difference between debits and but also the difference with respect to the interest. Regarding the liquidation of current bank accounts, you can proceed in three different ways, depending on the kind of settlement that will make the financial institution. When the capital and the interest rate, which is fixed in advance, you know just find the time period in which there will be interest, to know what will be the total.

With the direct method, the secured creditor and debtor capital earns interest days ranging from the period expires until the account is settled. The indirect method calculates interest from the day they are generated to an extent determined artificially. As there is a gap between this point and the actual settlement date, the accruals must be rectified as soon as the settlement date is known. There is also a method called Hamburg or balances, which calculates interest from the different balances appearing on the account and not from capital.