Here’s a list of some of the most commonly used words in banking to help you get started.
Account number
A number that only your account has. It’s made up of 8 digits and no letters, like 12345678.
Balance
This is the amount of money you have in your account.
Barclays Mobile Banking app
An app that lets you bank on your smartphone or tablet. All you have to do is download the app from an app store.
Budget
A way to plan your spending and not spend more than you have.
Branch
A Barclays building where you can bank. For example, Barclays banks in Coventry or Preston are called ‘branches’ of Barclays.
Cash card
A bank card that lets you take out up to £50 a day from cash machines.
Debit card
A bank card that lets you pay in shops, online and take out up to £300 a day from cash machines.
Interest
An amount of money a bank gives you, just for saving with them.
PIN
PIN stands for Personal Identification Number. It’s a 4-digit number that only you know – it’s like a password for your card. You’ll need to use it when you’re buying something with your card or withdrawing cash.
Sort code
A 6-digit number, with a dash every 2 numbers, like this: 12-34-56. It identifies the bank branch where you opened your account. Barclays’ sort codes always begin with 20.
Transfer
When you move money (but not every month) between 2 Barclays accounts that you own, such as transferring cash from your current account to your savings account.
