What is Bank Reference?

Legal Definition
A bank reference, known within banks as a 'status enquiry', is a bank's opinion as to the ability of one of its customers to meet a specific financial commitment. A bank will only give a reference if it has the written permission of its customer and normally require a new authority to reply to each and every enquiry.
Legal Definition
The information a bank can release about its customers. The facts shared are the years with the bank, number of loans, amount of loans, collateral type, collateral quality, and the latest statement. The need no approval to do this.