Definition of Account current

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historic definition...

Account current -- (or current account) Same as open or running or continuing account; an account that continues and in which a settlement is made at intervals, as every 30 days, 60 days or twelve months. In Great Britain a current account (also called drawing account) in a bank is one which may be added to by deposits and rtrawn against at will at any time. On the other hand a deposit account is one in which money deposited remains by agreement for a specified time and draws interest at a specified rate.



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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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