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English definition of “club account”

club account

noun [C]     BANKING
a bank account used by a club for its money : I have been one of the signatories to the club account since I became club treasurer last year .
a savings account that money is paid into regularly over the period of a year , that collects interest , and that is used to save money for a particular purpose , such as a holiday
(Definition of club account noun from the Cambridge Business English Dictionary © Cambridge University Press)
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