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 an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.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 ?
A large company in a boat that was working its way along under the Tofton houses observed their danger, and shouted, "Get out 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.
I could not imagine what might cause this strong lateral flow, for the main channel of the river was plainly visible to me from where I sat, and I could see the rippling junction of it and the mysterious current which had aroused my curiosity.
All day the voyagers pulled gently along, and landed in the evening and supped; then re-embarking, they suffered the canoe to float down with the current; taking turns to watch and sleep.
"If the fish can hold out until the current changes again, we'll be all right."
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.
By this time we had got so far out of the run of the current that we kept steerage way even at our necessarily gentle rate of rowing, and I could keep her steady for the goal.
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.
They are special currents known by their temperature and their colour.
"Well, you can't work up against this current today.
And, even then, we could not resist atmospheric currents of any considerable strength.