Cash account; Cash account requires the customer to pay the whole amount for products or services immediately. This type of account application just requires the business details to be filled in and agreement of supplier's terms and conditions. 

Credit account; Trade Credit account refers to postponing payment of goods or services to a later date typically within 1 month of the invoice date. This type of account application typically requires the customer to submit more information relating to their business eg trade references, personal guarantees and/ or other details required by the supplier.