In banking, this means the amount of money in your bank account.

Banks may charge the customer for providing some of their services. You will usually pay bank charges if you become overdrawn without agreement of the bank.

It is important that you contact the Bank as soon as possible if you become aware that you don't have enough money in your account. Bank charges and associated interest for unauthorised borrowing can be very expensive.

For many accounts, there is no charge for day-to-day services such as cash withdrawals as long as the account has a credit balance. Most banks also offer a wide range of additional services which you may have to pay for e.g. buying foreign currency or stopping cheques.

Banks often lend money to customers for things such as car purchases, holidays, home improvements etc. These loans are often called personal loans. They may also lend money to business customers for lots of different purposes.

Customers firstly have to apply for a bank loan - the bank will undertake a number of checks to make sure the customer can afford the loan and if the bank is happy to lend the money, they will agree:

• An amount.
• An interest rate (a charge to the customer for borrowing the money).
• The term (number of months the customer has to pay back the money)

You must be at least 18 years old before you can have a bank loan.

Your bank will send you detailed information about all your transactions in the form of a bank statement. You can see the amount of money that has been paid in or taken out, transfers between accounts, interest paid or received and any bank charges. Mini statements showing the balance and most recent transactions are available from most ATMs.

• A financial plan that shows the money you expect to receive, and the money you expect to pay out, over a specified time.
• The amount of money you have available to spend.

Putting together a financial plan that shows the money you expect to receive, and the money you expect to pay out, over a specified time.