Glossary
Opinions
Articles
Beginners Course
Lecture Modules - PDS
Exams
New Highs
Winning Shares
Lecture Modules - Resellers
About - Background Approach
Privacy Policy
Daily Quiz
Software Download Steps
Logout
Dashboard
Log out
A term used in the banking sector to describe a bank account into which a customer has his or her salary paid and which is used for making transactions. Many bank accounts opened by consumers are hardly used or are used only occasionally (secondary accounts). Banks make money from active accounts and can offer loan facilities to those clients who have arranged that their salary is deposited into the account. Dormant or seldom used accounts produce little income for the bank. The commercial banks compete fiercely with each other to get consumers' primary bank accounts placed with them.