Account Inquiry

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DEFINITION of 'Account Inquiry'

Any inquiry into an account, whether it be a depositary account or credit account. The inquiry can refer to past records, payments or other specific transactions, or any other entries relating to the account.

BREAKING DOWN 'Account Inquiry'

Most financial institutions have a formal department that deals with account inquiries. Sometimes the term is used when there is a request to or from a credit agency about a particular consumer.

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RELATED FAQS
  1. How can I tell if a security is considered investment grade?

    It is possible to tell if a security is considered to be investment grade by looking at that security's ratings with either ... Read Full Answer >>
  2. How do I transfer my credit card history from one country to another?

    It is currently not possible to transfer your credit history to another country if you relocate. The credit metrics used ... Read Full Answer >>
  3. What do creditors have to report to credit bureaus?

    Creditors are not required by law to report anything to credit bureaus, although many businesses choose to report on-time ... Read Full Answer >>
  4. Does shopping for the best interest rate affect my credit score?

    Shopping for interest rates does not necessarily affect a person's credit score. When a borrower submits an application to ... Read Full Answer >>
  5. How can a creditor improve its Average Collection Period?

    In accounts receivable management, the average collection period refers to the amount of time it takes for a creditor to ... Read Full Answer >>
  6. When are you legally required to get a letter of credit?

    You are legally required to obtain a letter of credit to guarantee a successful and risk-free transaction when dealing in ... Read Full Answer >>

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