current account

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current account

Economics that part of the balance of payments composed of the balance of trade and the invisible balance

Current Account


a type of deposit operation in banks and savings banks. Deposits in current accounts are not time deposits; that is, the account holder can make deposits and withdrawals at any time. In the capitalist countries, current accounts for the most part hold the temporarily free capital and cash reserves of the capitalists. In the USSR, current accounts in banks may be opened by noneconomic institutions and enterprises, kolkhozes, and public organizations; current accounts in savings banks may also be opened by individuals.

References in periodicals archive ?
A businessman out of town receives an SMS saying his chequing account is running low.
The new centres provide local residents with several special, time-limited offers, including no monthly fees for up to six months on new chequing accounts, a first-year annual fee rebate on any fee-based credit card, and 0.
5, 1981, Peace Hills Trust has been offering deposit and lending services, personal savings and chequing accounts, residential and commercial mortgages, term loans and consumer loans.