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What does current-account mean? The current account represents the net effect of this transaction on the given country. It consists of the trade balance (the difference between the total value of It is a non-interest bearing bank account. Some would encourage the opening of both capital and current account just because students will make less mistakes and more presentable answers but some would encourage… A savings account is a deposit account which allows limited transactions, while a Current Account is meant for daily transactions. Meaning of current-account. Information and translations of current-account in the most comprehensive dictionary definitions resource on the web. Current Account Meaning: In banking terminology, the term Current Account refers to a type of deposit account made with a financial institution that permits the withdrawal of funds and allows checks to be written against the balance. Current account – definition. ‘Roughly €39.6 billion is resting in deposit and current accounts, according to Central Bank figures.’ ‘Likewise, traditionally banks would offer current accounts, but these days most building societies offer them as well.’ ‘With a current account mortgage, your bank account, savings and mortgage are all with the same provider.’ This topic gets a little bit complicated to explain and I am aware that different teachers seem to have different approaches in teaching Capital and Current Account in partnership account. The meaning of the Director’s Current / Loan Account being overdrawn. current account meaning: 1. a bank account that you can take money from at any time and that usually earns little or no…. Features of Current Bank Account ↓ The main features of current account are as follows:-Current bank accounts are operated to run a business. Learn more. Current account balance + 0.85 – 1.23 – 8.90 + 4.23 = £ -5.05bn; This means a current account deficit – there is a net outflow of money – spending on imports is greater than exports. The implications of the Directors Current / Loan Account being “overdrawn”. Savings account and current accounts are designed for different purposes and have different features. Current account holder get one important advantage of overdraft facility. In other words, if a country exports more than it imports, its current account will have a positive balance. Latest current account data and news. Definition of current-account in the Definitions.net dictionary. Savings accounts cater to individuals who want to save whereas current accounts are made for regular transactions of firms and companies. This shows the UK has run mainly a current account deficit since 1980. Payments coming into an economy are called credits and payments leaving an economy are called debits. 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