Editing Transaction account (section)

== Country specific differences ==
In the [[United Kingdom]] and other countries with a UK banking heritage, transaction accounts are known as current accounts. These offer various flexible payment methods to allow customers to distribute money directly. One of the main differences between a UK current account and an American checking account is that they earn considerable interest, sometimes comparable to a savings account, and there is generally no charge for withdrawals at cashpoints (ATMs), other than charges by third party owners of such machines.

=== Transfer systems ===
Certain modes of payment are country-specific:
* [[Giro (banking)|Giro]] (funds transfer, direct deposit in European countries)
*In the [[United Kingdom]], [[Faster Payments Service]] offers near immediate transfer, [[BACS]] offers [[Giro (banking)|giro]]s that clear in a matter of days while [[CHAPS]] is done on the same day.
*[[Canada]] has an [[Interac e-Transfer]] service
*In [[India]], [[National Electronic Funds Transfer|NEFT]] and [[Real-time gross settlement|RTGS]] services are available to clear funds in a day.

=== In the European Union===
The [[Regulation (European Union)|Regulation (EU)]] n. 655/2014 has introduced the European Account Preservation Order, a new procedure of [[asset freezing]] in order "to facilitate cross-border debt recovery in civil and commercial matters."<ref>{{cite web| url = http://data.europa.eu/eli/reg/2014/655/oj | title =Regulation (EU) No 655/2014 of the European Parliament and of the Council of 15 May 2014 establishing a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters | website=[[EUR-Lex]]}}</ref>