Santander uses cookies to deliver superior functionality and to enhance your experience of our websites. Read about how we use cookies and how you can control them here. Continued use of this site indicates that you accept this policy.

Click if you do not want to see this message again

Bank account glossary








Arranged Overdraft

A facility on our bank account that lets you borrow a little extra money when you don't have enough. You must agree the limit with us beforehand and you may be charged an Arranged Overdraft Usage Fee each day you use this facility. For more information please visit our Interest Rates and Fees page.


Bank account

A bank or current account is the account that you use for your everyday needs, like buying things, paying in your salary and paying bills.

Banker's draft

This is a cheque that's issued by a bank on the customer's behalf. People often use a banker's draft when making large purchases like a car. Please refer to the Interest Rates and Fees Information for the cost of this service.



Cash card



A cash card is used in cash machines to withdraw or pay in money. It also allows you to use other services such as checking your balance.

Cash machine

These are also known as automated teller machines or ATMs. They let you withdraw and pay in money as well as do other everyday banking, such as getting mini-statements, changing your PIN and checking your balance. A remote cash machine is one that's installed in places like convenience stores or petrol stations.

Cheque-clearance cycle

When you pay a cheque into your account, we have to check there's enough money in the other person's account and then get that money from their bank. This is called the cheque-clearance cycle and it works just the same way when you write a cheque.

Current Account

A bank or current account is the account that you use for your everyday needs, like buying things, paying in your salary and paying bills.

Current Account Switch Service We are a member of the Current Account Switch Service (CASS).  It is a free service that lets you switch your current account from one participating bank or building society to another. It has been designed to be simple, reliable and hassle-free.  It will only take seven working days and is backed by the Current Account Switch Guarantee.



Debit card



This is a card that you can use to buy things in shops, over the phone or on the internet. You can use it instead of cheques or cash and the money comes out of your bank account automatically, within a few days of you using it.

Direct debit

This is a simple, direct way for companies to take money from your account if you authorise them. It's often used to pay regular bills such as gas, electricity or mobile phone. The company asks for the money automatically each month and with some bills, for example a phone bill, the amount taken may change each month according to how you have used your phone.



When you earn interest, we're paying you a percentage for using your money. For example, when you put your money into a savings or bank account, we'll pay you interest. And, if you take a loan or go overdrawn, you'll pay interest for using the money you've borrowed.

Interest-free/fee free Arranged Overdraft

When you open an account with us, we may give you an interest-free/fee free Arranged Overdraft (depending on your circumstances and the account you choose). This means you can borrow an agreed amount, for an agreed time, without paying interest or usage fees.


LINK cash machines

LINK is a UK network of cash machines where, if you hold a card that works with the LINK network, you can withdraw cash without charge.


Overdraft Usage Fees

If your account is in an Arranged or Unarranged Overdraft at the end of the day, you will be charged either an Arranged or Unarranged Overdraft Usage Fee. The cost of using an Unarranged Overdraft is greater than an Arranged Overdraft. How much you may be charged and more information can be found on our Interest Rates and Fees page.

Overdraft Manager

If you have graduate facilities on your account, Overdraft Manager is designed to help you repay money in a manageable way. It helps you sort out your overdraft by making regular payments and know that, by a set date, you will have repaid your money. You can choose between using the Overdraft Manager or keeping your interest-free Arranged Overdraft.

Online Banking

Our Online Banking service is a simple and convenient way to manage your accounts over the internet. Take a closer look at the benefits of online banking, and how to register for online banking.






This is your Personal Identification Number. It's a four-digit number that comes with your Visa debit or cash card. You need to type in your PIN when you use a cash machine or when you buy goods and services in shops. You should never reveal your PIN to anyone else. And as long as only you know the PIN, only you can use your card.

PLUS cash machines

PLUS is part of the Visa cash-machine network. You can take money out of cash machines in the UK and abroad wherever you see the PLUS logo. Please refer to the Interest Rates and Fees List for the cost of this service.

Price list

This is a list that shows all our service fees. You can use it to check how much you'll have to pay in charges (if there are any). We will include the Interest Rates and Fees Information in your key features document you'll receive when you open your account.


Regular transfer

This is a regular fixed amount you pay on a set date each month between two Santander accounts. You just need to tell us the amount, which account it's going to and the date you want us to transfer the money. The payment then happens automatically until you ask us to change it.


Savings accounts

These are useful accounts if you want to build up your money. We have a range of savings accounts to suit your needs.

Service fees

Service fees are the charges we make for things like unarranged overdrafts. We'll give you at least 22 days' notice before we take them.

Standing order

This is a way to make regular payments to another account and it's useful for things like your rent or mortgage. We arrange to pay the money out of your account on a set date each month. You just need to tell us the amount, the account that it's going to, and the date you want us to pay out the money.



Telephone Banking

As the name suggests, this is banking over the phone. You can get details of your balance, pay bills, or report lost or stolen cards.


This is your telephone banking number. It helps us to identify you and keep your account secure when you bank with us by phone. You shouldn't reveal it to anyone else.

Transaction Fees

You will incur a Transaction Fee when you attempt a payment that would move you in to an Unarranged Overdraft. If this payment is made you will pay a Paid Transaction Fee, if the payment is declined you will pay an Unpaid Transaction Fee. For more information please visit our Interest Rates and Fees page.


Unarranged Overdraft

We will treat you as having asked for an Unarranged Overdraft if you make a payment that would:

  • cause your account to go overdrawn without having an Arranged Overdraft in place; or
  • cause it to go over the limits of an existing Arranged Overdraft.

Different service fees to an Unarranged Overdraft. For more information please visit our Interest Rates and Fees page.


Visa debit card

Your Visa debit card is a debit card, and cash card which lets you use all the functions on a cash machine. You can use it to pay for things wherever you see the Visa logo.



This page has reached Plain English Campaign's Crystal Mark standard.

Call charges information 

Copyright © Santander UK plc. All rights reserved