current account

American  

noun

1. Also called open account.  an account of credits, debits, receipts, and expenditures between two individuals or companies, usually providing for settlement at the end of specified accounting periods.

2. (in certain foreign countries) a checking account.

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current account British  

noun

1. Canadian name: chequing account.  US name: checking account.  an account at a bank or building society against which cheques may be drawn at any time

2. economics that part of the balance of payments composed of the balance of trade and the invisible balance Compare capital account

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Etymology

Origin of current account

First recorded in 1840–50

Compare meaning

How does current-account compare to similar and commonly confused words? Explore the most common comparisons:

• current account vs. capital account

Example Sentences

"Some of the children who are going to be taking part in this trial are not even old enough to open a current account or open a Facebook profile," he said.

From BBC

Goldman estimates its surplus on the current account—the broadest definition of trade—will reach 1% of world GDP by 2029, larger than any country at least since the late 1940s.

From The Wall Street Journal

The rupee is among Asia's worst forex performers this year, pressured by India's current account deficit and foreign outflows.

From Barron's

Even that one, Liverpool partner bank Standard Chartered, does not allow UK customers to open a current account with it.

From BBC

But with 20 banks now signed up covering 99% of UK current account holders it's a useful tool in the fight against fraud.

From BBC

Related Words

• checking account
• deposit
• savings account