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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
Debit Card
A payment card linked to a checking or savings account that allows the cardholder to access and spend deposited funds.
Terms of Service
Terms of Service (TOS) are the legal agreements between a service provider and a user that govern the use of the service.
Flexible Spending Account (FSA)
A tax-advantaged savings account that allows individuals to set aside money for qualified expenses.

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