Inactive Account
A financial account that has not had any activity or transactions for a long period of time.
More Details
An inactive account is a financial account that has not been used for a certain period of time. The length of time that must pass before an account is considered inactive varies depending on the specific account and the policies of the company or organization that operates it.
Example
You opened up a bank account but have not used it in over a year. It became an inactive account as per the terms and conditions of the account.
Related Terms
Foreclosure
The legal process by which a lender repossesses a property when the borrower fails to make their mortgage payments.
Inactive Account
A financial account that has not had any activity or transactions for a long period of time.
Debit Card
A payment card linked to a checking or savings account that allows the cardholder to access and spend deposited funds.

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