no-account

In general: in partial payment of an obligation.

Finance: on credit terms. The term applies to a relationship between a seller and a buyer wherein payment is expected sometime after delivery and the obligation is not documented by a Note. Synonymous with open account.

Check returned by the paying bank to the originating bank (the drawee bank) because the check writer has no account to pay checks presented for collection.

adjective

Lacking all worth and value: drossy, good-for-nothing, inutile, no-good, valueless, worthless. Slang nothing. See value/worthlessness/evaluation.

In part payment of a debt, as in He paid half the amount on account. [Early 1600s]