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 an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.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 ?
If the fish can hold out until the current changes again, we'll be all right.
In spite of these pauses they were really making good progress toward the Winkie Country and having found a way to conquer the adverse current their spirits rose considerably.
Just as I had set my mast and sail, and the boat began to stretch away, I saw even by the clearness of the water some alteration of the current was near; for where the current was so strong the water was foul; but perceiving the water clear, I found the current abate; and presently I found to the east, at about half a mile, a breach of the sea upon some rocks: these rocks I found caused the current to part again, and as the main stress of it ran away more southerly, leaving the rocks to the north-east, so the other returned by the repulse of the rocks, and made a strong eddy, which ran back again to the north-west, with a very sharp stream.
This cursed current plays the devil with a navigator.
It was not till she had passed on nearly to Tofton that she could get the boat clear of the current.
In a moment more, Jane realized, she would be swept beyond the steamer, and then, unless they lowered a boat to rescue her, she would be carried far out to sea by the current and the swift ebb tide that was running.
He said the first towhead stood for a man that would try to do us some good, but the current was another man that would get us away from him.
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.
The current was about four miles an hour, with occasional rapids; some of them dangerous, but the voyagers passed them all without accident.
The current continued to be strong; but it was steady, and though they met with frequent rapids, none of them were bad.
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.
Therefore, these zones having been once determined, the balloon will merely have to be placed in the currents best adapted to its destination.