Disclaimer

General information only

BankingGlossary.co.uk provides general educational information about UK banking terms. It does not provide financial, legal, tax, mortgage, debt or investment advice.

Changing information

Banking products, interest rates, payment limits, compensation rules, tax allowances and regulation can change. A static glossary page may not reflect the latest position after its reviewed date.

Before making decisions

Users should check official information and consider speaking to an appropriately qualified professional before making important financial decisions or acting on a legal, tax, borrowing or investment matter.