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

The current account is the broadest indicator of a country’s trading and investing relationship with other nations, and a deficit may reflect a low level of national savings relative to investment.

From The Wall Street Journal • Apr. 27, 2026

Analysts at French investment banking firm Natixis Research published a report Thursday which warned that declining current account surpluses will weaken Asian currencies, raising inflation expectations and lead to tighter financial conditions.

From MarketWatch • Mar. 20, 2026

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 • Feb. 20, 2026

"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 • Dec. 10, 2025

If I borrow £500, then £500 is a debit to my current account, and a credit to my list of liabilities.

From "The Invention of Science" by David Wootton

Related Words

• checking account
• deposit
• savings account