account consolidation
nounUK /əˈkaʊnt kənˌsɒlɪˈdeɪʃən/
US /əˈkaʊnt kənˌsɑːlɪˈdeɪʃən/
Putting all your money accounts together in one place so they are easier to see and manage.
The bank helped her with account consolidation so she could track all her savings in one app.
OTHER MEANINGS
2. Combining several debts or accounts into a single account, often to simplify payments.
Debt account consolidation gave him one monthly payment instead of five.
3. In business, bringing multiple customer or financial accounts under one unified record.
The company's account consolidation reduced paperwork across its regional offices.
4. The process of merging duplicate or related accounts in a computer system.
The IT team finished account consolidation after the merger.