banking

What Is a CCJ? UK Meaning Explained

A CCJ, or County Court Judgment, is a court order in England and Wales requiring someone to repay a debt they have not paid. It is recorded on the Register of Judgments and on the credit file for six years from the judgment date.

11 Jun 2026 · 1 min read

What Is a default? UK Meaning Explained

A default is a marker placed on a credit file when an account is not paid as agreed over a sustained period, typically three to six months of missed payments. It signals the lender considers the agreement broken and stays on file for six years.

11 Jun 2026 · 1 min read

What Is a hard search? UK Meaning Explained

A hard search is a credit check that is recorded on a file and can be seen by other lenders. It is usually run when a full application is made, and several in a short time can lower a credit score temporarily.

11 Jun 2026 · 1 min read

What Is a soft search? UK Meaning Explained

A soft search is a check of a credit file that does not leave a mark other lenders can see. It is used for eligibility checks and quotes, and is visible only to the person whose file was searched, so it does not affect scoring.

27 Jul 2026 · 1 min read

What Is credit utilisation? UK Meaning Explained

Credit utilisation is the share of available revolving credit that is currently being used, shown as a percentage. If card limits total 5,000 GBP and the balance is 1,000 GBP, utilisation is 20 percent, a figure lenders weigh when scoring applications.

11 Jun 2026 · 1 min read

What Is an IBAN? UK Meaning Explained

An IBAN, or International Bank Account Number, is a standardised code that identifies an individual account for cross-border payments. A UK IBAN has 22 characters beginning with the country code GB, and packages the sort code and account number.

11 Jun 2026 · 1 min read

What Is a sort code? UK Meaning Explained

A sort code is a six-digit number that identifies a specific UK bank and branch. Paired with an eight-digit account number, it tells the payment system exactly where to send money, and is usually written as three pairs of digits.

11 Jun 2026 · 1 min read

What Is Faster Payments? UK Meaning Explained

Faster Payments is a UK system that moves money between bank accounts almost instantly, usually within seconds and around the clock. It is used for most online and mobile transfers, subject to limits each bank sets for its customers.

11 Jun 2026 · 1 min read

What Is BACS? UK Meaning Explained

BACS is a UK system for electronic bank payments that clear over a three working day cycle. It handles Direct Debits and Direct Credits such as wages and benefits, and is operated under Pay.UK for high volumes of routine payments.

11 Jun 2026 · 1 min read

What Is CHAPS? UK Meaning Explained

CHAPS is a UK system for sending high-value sterling payments that settle the same working day. It has no upper limit and is run by the Bank of England, which makes it common for property purchases and other large one-off transfers.

11 Jun 2026 · 1 min read

What Is a direct debit? UK Meaning Explained

A direct debit is an instruction that lets an organisation collect payments from an account holder, with the amount and date set by the organisation. It is used for bills that vary, and is covered by the Direct Debit Guarantee.

11 Jun 2026 · 1 min read

What Is a standing order? UK Meaning Explained

A standing order is an instruction from an account holder to their bank to pay a fixed amount to the same recipient on a regular schedule. The payer sets and controls the amount, date and frequency, and can cancel it at any time.

11 Jun 2026 · 1 min read

What Is an overdraft? UK Meaning Explained

An overdraft is a form of borrowing on a current account that lets the balance fall below zero up to an agreed limit. Interest is charged on the amount used, and going beyond the limit can trigger further refusals or charges.

11 Jun 2026 · 1 min read

What Is a balance transfer? UK Meaning Explained

A balance transfer moves credit card debt to a new 0% card for a one-off fee, often around 3% of the balance, which can undercut ongoing interest at a standard rate like 24.9% APR.

19 Jul 2026 · 5 min read

What Is EAR? UK Meaning Explained

EAR, or equivalent annual rate, is the rate that shows the cost of being overdrawn on a current account over a year. It assumes the overdraft interest compounds, but unlike APR it excludes any separate account or arrangement fees.

11 Jun 2026 · 1 min read

What Is AER? UK Meaning Explained

AER, or annual equivalent rate, is a savings figure that shows the interest a balance would earn over a year once compounding is taken into account. It lets savers compare accounts that pay interest at different frequencies on a single basis.

11 Jun 2026 · 1 min read

What Is APR? UK Meaning Explained

APR, or annual percentage rate, is the yearly cost of borrowing on a loan or credit card shown as a percentage. It combines the interest rate with any compulsory fees, so it reflects the total price of credit measured across a single year.

11 Jun 2026 · 1 min read

Post Office Banking UK: Which Banks You Can Use, What You Can Do and Where to Find a Branch

How Post Office banking works under the Banking Framework, the 30-plus banks and building societies supported, what you can and cannot do at the counter, business banking, and how banking hubs differ from Post Office branches.

16 Jun 2026 · 6 min read

Virgin Money Transfers to Nationwide: What Changes for Customers After April 2026

Virgin Money transferred to Nationwide Building Society on 2 April 2026. What changes for current account, savings, mortgage and credit card customers, FSCS protection limits and what to do now.

16 Jun 2026 · 5 min read

Santander Online Banking UK: How to Log In, Register and What You Can Do

How to access Santander Online Banking and the Santander mobile app in the UK. Registration, login, what you can do online vs in-app, security, and how to reset forgotten details.

16 Jun 2026 · 5 min read

M&S Bank Transfers to HSBC UK: What Changes for Savers, ISA Holders and Credit Card Customers

M&S Bank legally transferred to HSBC UK on 1 June 2026. What changes for savings accounts, cash ISAs, credit cards and FSCS protection. M&S branding remains but the legal entity is now HSBC UK.

16 Jun 2026 · 5 min read

Chase UK Cashback Doubles to 2%: New Rules, Categories and How to Qualify

Chase UK is doubling cashback from 1% to 2% from July 2026, raising the monthly cap to £20 and adding restaurants and takeaways. New qualifying criteria require 15 transactions and £1,000 in savers monthly.

16 Jun 2026 · 5 min read

NatWest and RBS Branch Closures 2026 and 2027: Full List and Banking Alternatives

NatWest Group is closing 49 branches in 2026 and 2027, including 43 NatWest and 6 RBS locations. Full closure list, dates, and what to do if your branch is shutting.

16 Jun 2026 · 5 min read

Business Current Account UK: Free Options and CMA9 Banks Compared

Starling Business and Nationwide FlexBusiness are permanently free. NatWest and Santander offer 18-month free periods. All business current accounts compared.

16 Jun 2026 · 6 min read

Multi-Currency Business Account UK: Wise, HSBC and Options Compared

Wise Business offers the lowest FX margins with local account details in 10 currencies. HSBC provides FSCS protection and trade finance. All options compared.

16 Jun 2026 · 6 min read

Business Bank Account for Startups UK: Best Options for New Companies

No UK provider requires a minimum trading period. Startups can open on the day of incorporation. Starling and Monzo activate within minutes. NatWest offers 18 months free.

16 Jun 2026 · 7 min read

Mobile Business Bank Account UK: App-First Banking Compared

Starling Business and Monzo Business are the leading mobile-first business bank accounts. Both are free, FSCS-protected FCA banks with full open banking connectivity.

18 Jul 2026 · 8 min read

Free Business Bank Account UK: Permanently Free Options Compared

Starling Business, Nationwide FlexBusiness and Mettle are permanently free with no monthly fee and no transaction charges. CMA9 free periods last 12 to 18 months before fees apply.

18 Jul 2026 · 8 min read

Open Banking Business Accounts UK: How It Works and Which Banks Support It

Open banking connects your business bank account to accounting software automatically. All CMA9 banks are legally required to provide it. Starling, Monzo and Mettle also fully supported.

16 Jun 2026 · 8 min read

How to Open a Business Bank Account UK: Step-by-Step Guide

How to open a business bank account online in the UK. What documents you need, how long it takes, and which providers are fastest. Sole traders and limited companies covered.

16 Jun 2026 · 8 min read