TeachMeFinance.com - explain Current account
Current account -- (or account current). 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 Britian a current account (also called drawing account)
in a bank is one which may be added to by deposits and
drawn 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
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