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 ?
IT'S easy to assume it's not worth your while switching your current account.
And because 80% of current accounts don't pay any of that income back to their current account customers, the banks are able to generate a combined total of PS3.
Current accounts are seen as a "quick win" for fraudsters as they enable them to launder money and rack up debts in someone else's name by maxing out overdrafts or using the account as a springboard to make other bogus credit applications.
The Danish central bank has announced that it will not lift a current account cap in order to help banks.
While a lump sum current account credit balance offers flexibility to access cash instantly, a separate monthly saver, like M&S, means savings don't get muddled with everyday spending.
The Current Account Switch Service was meant to revolutionise the industry by making it easier for fed-up customers to move to rivals.
It provides a competitive assessment of the current accounts offered by the leading lending banks in key developed and emerging economies.
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.
We ve seen a positive uplift in current account openings in the last month.
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.
com site users revealed that of those who are now thinking about switching current accounts (46 per cent), one in 10 say they will switch to the Post Office account.
It has three 'carrots' to tempt switchers: Existing mortgage customers with Santander who switch their current account and savings of at least pounds 10,000 get a pounds 300 gift; mortgage customers who switch only their current accounts get a pounds 200 reward; and other consumers, with no links with Santander, get pounds 100 for moving their current account.