Plain-English guides to UK banking
Clear guides to current accounts, cards, borrowing, savings and digital banking. Balanced, sourced and written for people who just want a straight answer.
Representative APR is the rate the lender expects to give at least 51% of the people it accepts. Up to 49% can legally be offered something worse — which is why the rate you are quoted may not match the advert.
Read the guide →Since 1 December 2025 the FSCS deposit limit is £120,000 per eligible person, per authorised firm. The catch is "per firm", not per account or per brand — several high-street names can share one banking licence.
Seven working days, using the Current Account Switch Service. You pick the switch date, your Direct Debits, standing orders and incoming payments move across, and the old account closes — backed by a guarantee that refunds any charges caused by an error.
Compare AER with AER. AER standardises for how often interest is paid and compounded, so it is the only figure that puts a monthly-interest account and an annual-interest account on the same footing.