Methodology

How terms are selected

Terms are chosen because they are commonly used in UK banking, payments, savings, borrowing, Open Banking, fraud prevention or financial regulation. The first release focuses on 50 foundational terms that help readers understand common account and payment journeys.

Why there are three levels

Simple explanations give a clear starting point without specialist language. Student explanations add context, comparisons and UK examples. Professional explanations add operational, regulatory or technical context for readers working with banking services.

How sources are prioritised

Official UK and primary sources are preferred, including the Bank of England, FCA, FSCS, Pay.UK, Payment Systems Regulator, MoneyHelper, the Financial Ombudsman Service and GOV.UK. Commercial bank glossaries may help identify common wording, but they are not treated as the only authority.

Review approach

Every term displays a reviewed date. Content that depends on limits, product rules, reimbursement arrangements, tax allowances or regulatory requirements should be checked against official sources before decisions are made. The central reviewed date is currently 14 July 2026.

Corrections

Corrections can be requested through the contact page. The site aims to fix clear errors, improve unclear explanations and update material when official information changes.