current account

noun
1.
Also called open account. an account of credits, debits, receipts, and expenditures between two individuals or companies, usually providing for settlement at the end of specified accounting periods.
2.
(in certain foreign countries) a checking account.

Origin:
1840–50

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To current account
Collins
World English Dictionary
current account
 
n
1.  US name: checking account, Canadian name: chequing account an account at a bank or building society against which cheques may be drawn at any time
2.  economics Compare capital account that part of the balance of payments composed of the balance of trade and the invisible balance

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
Current account trade deficit posts unexpectedly large improvement.
The current account includes trade in goods as well as in services, overseas
  investment earnings and official transfer payments.
Whether a current account deficit is unsustainable depends on the type of and
  the reason for capital inflows.
The first approach is to reduce current account surplus indirectly via
  narrowing the saving-investment gap.
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