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

See Examples For:

current account

That could mean setting up a direct debit from your current account to a savings account, organising cash into different envelopes or using round-up tools that put spare change aside when you spend.

From BBC ● Jul. 8, 2026

Basic bank accounts have many of the same functions as a regular current account, but are designed for those who might otherwise be excluded from the banking system.

From BBC ● Jul. 6, 2026

In the past quarter, the U.S. current account deficit was $190.7 billion.

From MarketWatch ● Jun. 10, 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

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