WORKING ACCOUNT Meaning and
Definition
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A "working account" refers to a functional and active financial account used primarily for conducting ongoing transactions, such as deposits, withdrawals, and transfers. It is typically associated with banking or financial institutions and provides individuals or organizations with a convenient means to manage their financial affairs effectively.
A working account is often opened by an account holder at a bank or credit union, where they can deposit and store their funds securely. This account is designed to facilitate routine financial activities, which may include receiving salaries, paying bills, conducting business transactions, or saving money. With a working account, individuals can write checks, make electronic payments, or use a debit card for making purchases, all while maintaining accurate records of their finances.
The term "working" in "working account" emphasizes that the account is functional, operational, and adaptable to meet the daily financial needs of the account holder. This implies that the account is fully activated and available for regular transactions, as opposed to an inactive or dormant account that might have limited functionality.
Overall, a working account plays a vital role in modern financial management, serving as a flexible tool for individuals and organizations to handle their everyday transactions efficiently and securely.
Common Misspellings for WORKING ACCOUNT
- qorking account
- aorking account
- sorking account
- eorking account
- 3orking account
- 2orking account
- wirking account
- wkrking account
- wlrking account
- wprking account
- w0rking account
- w9rking account
- woeking account
- wodking account
- wofking account
- wotking account
- wo5king account
- wo4king account
- worjing account
- worming account
Etymology of WORKING ACCOUNT
The term "working account" does not have a specific etymology of its own as it is a combination of two commonly used words. However, understanding the etymology of each word individually may provide some insights.
1. Working: The word "working" originates from the Old English word "weorcian", which means "to do" or "to perform". Over time, it evolved into the Middle English word "werken" and eventually became the modern English word "working". Its basic meaning is associated with the act of performing tasks, labor, or activities.
2. Account: The term "account" comes from the Old French word "acont", which is derived from the Latin word "computare". "Computare" means "to calculate" or "to reckon". In the context of finance and business, an account refers to a record or statement of financial transactions or events.
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