The term 'on account' is often used in the context of financial transactions, and can be defined as a payment made in advance or on CREDIT. The crossword solution for this term is 'CREDIT', which is a form of payment that allows a person to purchase goods or services before paying for them. CREDIT can be extended by a lender, such as a bank, or it can be offered by a seller, such as a store. CREDIT can also be used to pay for services, such as utilities or rent. In all cases, the borrower must eventually repay the amount borrowed, plus any interest or fees associated with the loan.