Financial terminology can be mind boggling but it is essential that you have an understanding of banking terms so you have an idea of what services your bank offers or what you are agreeing to on financial documents. In this article, you can also find further advice and resources.



What is a Debit card?



What is a Credit card?



What is a Store card?



What is a Credit Check?



What is a Direct Debit?



What is a Standing Order?



What is an ATM?



What is a Basic Account?



What is an Overdraft Facility?



What is a Default?



What is a ‘CCJ’?



What is a Base Rate?



What is ‘APR’?



What are Early Repayment Charges?



What is ‘HP’ or Hire Purchase?



What is a Repayment Mortgage?


Further advice & resources

For more guidance generally on managing your money, please refer to our articles in our Money Advice category, which covers a range of topics with advice and tips.

  • If you’re stuck you can always reach to the Money & Housing Advice team, or refer to some of these external websites:
  • MoneySavingExpert - Credit scores
  • Identity theft: Don’t become a victim of Fraud

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