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 an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.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 periodicals archive ?
Well, major current account providers have signed up to a Government-backed service, launched in March, that enables current account customers to see in pounds and pence exactly how much better off they could be by switching provider.
Many current accounts pay no interest at all in the low interest rate environment, and while they may appear to be "free", people pay in other ways, for example through overdraft fees or foregoing interest which they could have received from an account elsewhere.
Gain insights into key operational and regulatory trends in key current account markets.
Inclusion of oil prices in the modeling of exchange rate and current account is not only in concordance of elasticity approach but also consistent with both absorption and monetary approaches to balance of payment determination.
Three-quarters did not even know the credit interest rate on their current account.
com , said: "It is encouraging to see that so many people are now planning to take control of their finances and are looking to shop around to find the best current account deal to suit their needs.
The current account is the broadest gauge of trade.
Only 7 per cent of those questioned said they had moved their current account at least three times during the past 10 years.
WITH more and more of us feeling the pinch because of the credit crunch, there's no excuse for sticking with a poor-performing current account.
Household wealth is shown to have a substantial impact on the current account through the wealth effect on savings.
current account and movements in the real trade-weighted dollar suggest that decisions about where to place savings have driven the adjustments.