current account

American  

noun

current accounts plural

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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Other Word Forms

Noun Inflected Forms

• current accounts
  plural

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

He admits he "hates budgeting and always has" so he says he looks at his current account as soon as he gets paid and decides how much he wants to move into savings.

From BBC • Jul. 8, 2026

Household spending data and current account balance for May are also slated for release on Tuesday and Wednesday, respectively.

From The Wall Street Journal • Jul. 3, 2026

The rupee's slide comes as India faces a widening current account deficit driven by costly energy imports.

From Barron's • May 17, 2026

A weaker rupee makes imports costlier and exports more competitive, helping narrow the current account deficit over time.

From BBC • May 14, 2026

So if I buy a bar of gold worth £500,1 credit £500 to my current account, and I debit £500 to my list of assets.

From "The Invention of Science" by David Wootton

Related Words

• checking account
• deposit
• savings account