current account

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Related to Current account surplus: Capital account surplus

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 an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.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 periodicals archive ?
Within the next five to six years, as the United States' trade deficit begins to shrink substantially, as we start running a current account surplus and as we start accumulating for our aging, the U.
That pulls down your current account position and reduces the current account surplus.
Last year, Asia's fourth-largest economy posted a current account surplus of $105.
The current account surplus of the oil and gas sector in Azerbaijan amounted to $22.
That increase in the current account surplus was mainly an outcome of the rise in the surplus of the Balance on Goods (merchandise exports minus merchandise imports on f.
The bank has posted a current account surplus of USD4.
Summary: JapanEoe1/4aos Current Account surplus printed slightly higher than expected in February, registering at 1.
with an increase in current account surplus that reached US$ 11 billion in 2007 up from US$ 10.
At a time when China's global current account surplus is already huge and increasing and when growth of China's bank lending and its monetary aggregates are once again considerably above their targets, this would be precisely the wrong policy prescription.
Latin America posted a collective current account surplus of US$5.
The current account surplus continued to decline due to a plunge in trade surplus amid economic slowing in the United States and other countries, a ministry official said.
South Korea's current account surplus in February rose to $790 million, up $470 million from the previous month's $320 million mainly due to an increased trade surplus and narrowing of the service balance deficit, the Bank of Korea said Wednesday.