current account

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Current account

Net flow of goods, services, and unilateral transactions (gifts) between countries.

Checking Account

An account at a bank in which a customer deposits money for immediate use. For example, one may utilize a checking account for one's monthly expenses, such as a mortgage payment or groceries. Because most customers keep money in a checking account for a shorter period than in a savings account, a current account pays a slightly lower interest rate. Typically, one can write a check or use a debt card on a checking account, and banks expect customers to do so. The term "checking account" is more common in the United States. In the United Kingdom, the common term is "current account."

current account

  1. an individual's or company's account kept at a COMMERCIAL BANK or BUILDING SOCIETY into which the customer can deposit cash or cheques and from which he or she can draw cheques or make withdrawals on a day-to-day basis.
  2. a financial record of a country's trade in GOODS and SERVICES with the rest of the world (see BALANCE OF PAYMENTS).
  3. an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.

current account

  1. 1a statement of a country's trade in goods (visibles) and services (invisibles) with the rest of the world over a particular period of time. See BALANCE OF PAYMENTS.
  2. an individual's or company's account at a COMMERCIAL BANK or BUILDING SOCIETY into which the customer can deposit cash or cheques and make withdrawals on demand on a day-to-day basis. Current accounts (or sight deposits as they are often called) offer customers immediate liquidity with which to finance their transactions. Most banks and building societies pay INTEREST on current account balances that are in credit. See BANK DEPOSIT, DEPOSIT ACCOUNT.
References in classic literature ?
This is one of the characteristics of the middle and lower part of the Missouri; but still more so of the Mississippi, whose rapid current traverses a succession of latitudes so as in a few days to float the voyager almost from the frozen regions to the tropics.
The beach shelved gradually within the cove, but, the current swept deep and black and rapid along its jutting points.
As I lay there beneath the dark rocks I noticed that a strong current seemed to flow directly toward the center of the river, so that it was difficult to hold my craft in its position.
They knew it was a great fish, because it pulled so hard on the line that it dragged the raft forward even faster than the current of the river had carried it.
It was too late, however, to turn back, for the current that carried her toward the ship was much too strong for her muscles.
Behind her she saw the prahu turn back up stream, but now her mind was suddenly engaged with a new danger, for the girl realized that the strong current was bearing her down stream more rapidly than she had imagined.
Here the main force of the current was flung back toward the south shore, and the result of our paddling was that we crossed the current where it was swiftest and narrowest.
The wind freshened, and the Pyrenees, despite the foulness of her bottom, won half a dozen miles away from the westerly current.
My first attempt satisfied me that there was no reasonable hope, burdened as I now was, of breasting the strong current running toward the mid-river from either bank.
Yet the current was swift and strong, and, good swimmer as he was, it was no easy task which Alleyne had set himself.
In my viewing the sea from that hill where I stood, I perceived a strong, and indeed a most furious current, which ran to the east, and even came close to the point; and I took the more notice of it because I saw there might be some danger that when I came into it I might be carried out to sea by the strength of it, and not be able to make the island again; and indeed, had I not got first upon this hill, I believe it would have been so; for there was the same current on the other side the island, only that it set off at a further distance, and I saw there was a strong eddy under the shore; so I had nothing to do but to get out of the first current, and I should presently be in an eddy.
Maggie had no time to answer, for a new tidal current swept along the line of the houses, and drove both the boats out on to the wide water, with a force that carried them far past the meeting current of the river.