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

I told them their merchant account business was a scam.

From New York Times • Sep. 21, 2016

Braintree, which has more than 180 employees, helps to process online and mobile credit card payments by providing a merchant account, payment gateway, billing and credit card storage.

From Reuters • Sep. 26, 2013

Square charges its merchants a straightforward 2.75% fee to swipe any major credit card--with no additional merchant account fees.

From Inc • Nov. 30, 2012

Anyone — even individuals — can set up a merchant account in a matter of minutes and immediately start accepting credit cards.

From Forbes • Aug. 14, 2012

Square takes 2.75 percent of every transaction—which, for most businesses, is cheaper than setting up a traditional merchant account.

From Slate • Nov. 2, 2011

Related Words

• checking account
• deposit
• savings account