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 an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.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 ?
The Central Bank of Ireland has published its seventh Consumer Protection Bulletin, which analyses the level of current account switching using data gathered from credit institutions.
But the figures show that current account switching has been creeping up this year so far.
Packaged current accounts are a great way to get a little extra from a current account, such as worldwide travel insurance, but they can be a costly mistake if the benefits are not used or if people find that they are not eligible.
As stated, the current account Triffin differs very substantially from the original Triffin.
The Competition and Markets Authority (CMA), which is part-way through an investigation into the banking sector, has found that current account customers could be between PS70 and PS260 a year better off by moving to a deal that really suits their needs.
Experian said at least 89 in every 10,000 applications for a current account are made by an imposter.
Pays interest on current account balances, monthly, like a fixed deposit
In this context exchange rate attains pivotal importance due to its role for adjusting current account imbalances as advocated by both traditional [Mundell (1962); Flemming (1962)] and advance open economy macroeconomic approaches [Obstfeld and Rogoff (2000)] to current account determination.
But the reality is that people who are in credit in their current accounts may be missing out on the returns that they could make if they shifted their money elsewhere.
uk recently reported that NatWest and RBS have stopped paying credit interest on all of their current accounts while Banco Santander has stopped paying interest on selected current accounts.
When it comes to current accounts, people often stay with the same provider, even though it might not be the most competitive because the prospect of switching to a new current account can be daunting.
Although they have been slagged off for years for paying a niggardly interest rate on account balances, Barclays, Lloyds TSB, RBS/NatWest and HSBC still hold around 65% of current accounts.