checking account; current account
A bank account used for frequent deposits and withdrawals, typically with check-writing or debit card access. 当座預金口座 is the formal term; in everyday conversation 当座預金 or simply 当座 is often used.
To open a checking account, a credit check is required.
家賃は当座預金口座から自動引き落としにしています。
I have the rent automatically debited from my checking account.
普通預金口座 is a standard savings account with lower transaction frequency and usually no check-writing facility, while 当座預金口座 is designed for frequent transactions and may allow overdrafts.
当座預金 is a shorter, more common way to refer to a checking account in everyday speech, omitting 口座 (account).
Compound of 当座 (とうざ, 'current, immediate') + 預金 (よきん, 'deposit') + 口座 (こうざ, 'account'). The term reflects the account's purpose for immediate, on-demand transactions.