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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

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.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Customers who opened either an Everyday current account or an Essentials current account between February 1 2018 and February 20 2019, and who went into unarranged overdraft, did not receive an alert warning them of the possibility of charges.
'The recent widening of current account deficits has overshadowed the near-term economic outlook of India, Indonesia and the Philippines,' Reza Siregar, head of the IIF's Asean and India research, said in the Oct.
The UK's Financial Conduct Authority (FCA) chief executive, Andrew Bailey, has warned banks against closing down operations in the current account market.
Some 248,302 switches took place between January and March 2017 according to payments body Bacs, which oversees the current account switch service.
"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.
IT'S easy to assume it's not worth your while switching your current account.
It said criminals are continuing to test potential weaknesses in the seven-day system which was introduced in 2013 to make it easier for people to switch current accounts - but the growth in fraud detection rates shows firms' systems are holding up.
Most banks do not usually remunerate current accounts with interest nor offer any value added benefits, usually on the assumption that giving full liquidity cannot be coupled with providing any extra premiums.
6 An investigation into the power of Britain's Big Four banks over the PS8billion current account market is expected to be announced today.
And it is a drop in the ocean compared with the 65m active current accounts in the UK.
ANKARA, December 12, 2011 (A.A) - Turkey's current accounts deficit went up 94 percent between January and October when compared to the same period of last year and reached a figure of 65.05 billion USD.