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English definition of “current account”

current account

noun [C]     ( abbreviation C/A) UK
( UK also cheque account, US checking account) BANKING a bank account that you can take money from at any time and use for making payments , that usually earns little or no interest: She opened a current account with an online bank.in/into sb's current account He is considering what to do with around £5,000 he has in his current account.out of/from sb's current account I transfer my mortgage repayments monthly from my current account. a current account holder/customer
ECONOMICS a measure of the money going into and out of a country in the form of exports and imports, income from interest and payments from foreign stocks, and other payments: Much of the improvement in the current account balance has come from a sharp decline in imports. This year has seen the country's first current account surplus in a decade.
(Definition of current account noun from the Cambridge Business English Dictionary © Cambridge University Press)
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