The Moneywise Financial Glossary

Quick term finder

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Created in 1968, BACS is a not-for-profit industry body, owned by 16 of the leading banks and building societies in the UK and Europe. All...
Moving money from one account to another, whether switching bank accounts or more likely transferring the outstanding balance on your...
A document (usually a paper slip or your bank paying-in book) used to instruct a bank to make a direct payment or transfer funds to another...
The term is used to describe the partnership between a bank and an insurance company where the insurance company uses the bank’s sales...
A person (or business) unable to pay the debts it owes creditors can either volunteer or be forced into bankruptcy – a legal proceeding...
Also referred to as the bank rate or the minimum lending rate, the Bank of England base rate is the lowest rate the Bank uses to discount...
A no-frills vanilla bank account that allows you to have your salary paid in, to set up direct debits and standing orders for money going...
This refers to a market situation in which the prices of securities are falling and widespread pessimism causes the negative sentiment to...
A standard by which something is measured, usually the performance of investment funds against a specified index, such as the FTSE All-...
Named after a high value gambling chip, the term is used for an investment seen as solid and whose share price is not volatile. Blue chip...