Plain-language definitions of 70 business banking terms — account types, fees, compliance, and more.
All terms 70
Account numberAcquiring bankAnnual equivalent rateAnnual percentage rateBacsBank guaranteeBatch paymentBeneficiaryBeneficiary referenceBill of exchangeBusiness checking accountBusiness credit cardBusiness current accountBusiness debit cardBusiness loanBusiness overdraftBusiness savings accountCard schemeCash managementChallenger bankCHAPSCharge cardClearing cycleCorrespondent bankCredit limitCurrency hedgingCut off timeDeposit insuranceDirect debitElectronic Money InstitutionEmployer Identification NumberExpense managementFactoringFaster PaymentsFDIC insuranceFixed term depositFloatForeign exchange markupForward contractFSCS protectionInterest rateIntermediary bankInvoice financingLockboxMerchant accountMid market rateMinimum balance requirementMonthly maintenance feeMulti currency accountNegotiable instrumentNotice accountOverdraftPayment gatewayPayment referencePositive payRemitterRemote deposit captureRouting numberSafeguardingSecured loanSEPA paymentSort codeSpot rateStanding dataStanding orderStatement cycleTransaction feeTreasury managementValue dateVirtual card