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conto corrente di risparmio

English translation: Savings account

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:conto corrente di risparmio
English translation:Savings account
Entered by: Michael Meskers

18:37 Aug 19, 2017
Italian to English translations [Non-PRO]
Bus/Financial - Finance (general)
Italian term or phrase: conto corrente di risparmio
Hi all -

I have to confess that I have never seen this before. And googling hasn't helped...

I am translating a legal/financial document where Italian employees of a bank based in Latin America were responsible for opening bank accounts for customers for Latin American customers living in Italy. They are being investigated for possible money laundering.

The document lists employee names and their duties which included, inter alia, opening "conti correnti di risparmio." Other than spelling out how many of these accounts each employee opened, there is no further detail offered.

So, if a conto corrente is a checking account and a conto di risparmio is a savings account, this would appear to be some sort of hybrid (not explained in the document). All I can think of is an "interest-bearing checking account."

Any other ideas about how to best translate this (into AE, BTW)?

Thanks a lot!
Michael Meskers
United States
Local time: 21:59
Savings account
Explanation:
Believe me this is what it is called. In US, or a deposit account where liquid funds can be set aside with no or a imited number of withdrawals (6 I think per month in US but an unlimited number of deposits). Why it is important for money laundering? Because its a way of "hiding" funds of unknown origin, possibly from the proceeds of criminal activities or for terrorist financing and, when linked to a checking account, funds can be transferred which can then be freely withdrawn. I have just translated 5 legislative decrees on money laundering and terrorist financing (#231/2007, 151, 90, 109 and red flags) for a total of 100,000 words, I almost ended up speaking like a "legislative decree"!
Alison
Selected response from:

Alison Kennedy
Italy
Local time: 03:59
Grading comment
Thanks
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +4Savings account
Alison Kennedy
5savings account i agree!
Vanex


  

Answers


48 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
Savings account


Explanation:
Believe me this is what it is called. In US, or a deposit account where liquid funds can be set aside with no or a imited number of withdrawals (6 I think per month in US but an unlimited number of deposits). Why it is important for money laundering? Because its a way of "hiding" funds of unknown origin, possibly from the proceeds of criminal activities or for terrorist financing and, when linked to a checking account, funds can be transferred which can then be freely withdrawn. I have just translated 5 legislative decrees on money laundering and terrorist financing (#231/2007, 151, 90, 109 and red flags) for a total of 100,000 words, I almost ended up speaking like a "legislative decree"!
Alison

Alison Kennedy
Italy
Local time: 03:59
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 334
Grading comment
Thanks

Peer comments on this answer (and responses from the answerer)
agree  writeaway
2 hrs
agree  Peter Cox
2 hrs
agree  martini
11 hrs
agree  Helen Pringle
18 hrs
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 5/5
savings account i agree!


Explanation:
I have a savings account in my current account here in the uk and it is just some money set aside which i can touch anytime and it is called savings account ... hope it made sense 😃

Vanex
United Kingdom
Local time: 02:59
Native speaker of: Native in EnglishEnglish, Native in ItalianItalian
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