Okuzeka
Finance & Banking vocabulary · Accounts & Deposits

Current account

Meaning in finance & banking, with examples

nounCore term

In finance & banking, current account means: An everyday bank account for receiving a salary, paying bills and making card payments. It pays little or no interest, and the money can be used at any time.

In Turkish: vadesiz hesap, vadesiz mevduat hesabı

How it is used

British English; Americans say checking account. Customers open a current account, pay money into it and link a debit card to it. Many current accounts come with an overdraft.

Example sentences

  1. Your salary will be paid into your current account on the 15th of each month.

  2. She has a current account and two savings accounts with us.

Common collocations

  • open a current account
  • personal current account
  • business current account
  • current account holder
  • savings accountA bank account for keeping money you do not need every day. It pays interest, but it may limit how often or how quickly you can take money out.
  • overdraftAn arrangement that lets you spend more money than you have in your current account, up to an agreed limit, usually with interest charged on the negative balance.
  • debit cardA card linked to your bank account that takes money directly from your balance when you pay or use a cash machine.
  • bank statementA document from the bank that lists all the transactions in an account over a period, with the opening and closing balance.

More terms: Accounts & Deposits

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This page explains English vocabulary for learners. It is not financial advice.