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

But at about 1% of GDP for both the merchandise trade deficit and the current account gap overall, the imbalances aren’t overly concerning, the economist says.

From The Wall Street Journal

It may also mildly support the rupiah via higher export volumes and a stronger current account, he reckons.

From The Wall Street Journal

And unlike the UK at the time, it posts a sizeable current account surplus, he told AFP.

From Barron's

"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

Related Words

• checking account
• deposit
• savings account