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

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

The FIC has called for what it describes as a National Inclusion Strategy to help people struggling with debts, and to give people support to access basics like a current account.

From BBC

The UK had elevated debt levels, substantial borrowing and a current account deficit, meaning it imports more than it exports, which left it more vulnerable than the euro area or the US over borrowing pressures.

From BBC

It analysed its own fraud figures, and made the estimate about fraud suffered by customers of all banks based on Lloyd's market share - it has about a fifth of UK current accounts.

From BBC

Related Words

• checking account
• deposit
• savings account