Below are alphabetical listings of definitions of acronyms and terminology that may be used throughout this site.
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The Danske Bank Card Exchange Rate (UK) is the Payment Scheme Reference Exchange Rate which applied on the date that the transaction was received by the Payment Scheme. This rate is subjected by us to average weighting so that the exchange rate used for all transactions processed by us on that date are equalised. Transactions can be processed by us on non-business days. The statement 'entry date' for a transaction that is processed on a non-business day will be the next business day. We will apply the Danske Bank Card Exchange Rate (UK) when the transaction is processed by us.
The Payment Scheme Reference Exchange Rate is the exchange rate set by MasterCard (which applies to MasterCard and debit cards) or Visa (depending on the payment scheme logo displayed on Your Card) and which is prevailing at the time your transaction was received by the Payment Scheme.
EAR stands for 'effective annual rate' and is used to show the costs of borrowing. It takes into consideration the interest rate charged and how often the interest is applied to the account. It does not include any fees related to overdrafts.
Foreign Currency Mortgages
The bank only provides mortgages in sterling but will consider applications for Fixed Rate and Base Rate Tracker residential mortgages where the applicant’s income is in a currency other than sterling. A list of currencies the bank will consider is provided below:
The rate which will be used to convert the relevant Foreign Currency to sterling is the ‘Customer sells foreign currency rate’. Fluctuations in the exchange rate will affect your mortgage repayments if your income is in a currency other than sterling. Please click here to view our Foreign Exchange Rates.
Lines are open between 8am and 8pm Monday to Friday and 9am to 4.30pm Saturdays and Sundays, except on bank holidays or other holidays in Northern Ireland when the bank is not open for business. Call charges may vary. Please contact your phone company for details. We may record or monitor calls to confirm details of our conversations, for your protection, to train our staff and to maintain the quality of our service.
Danske Bank is a trading name of Northern Bank Limited. Registered in Northern Ireland R568. Registered office: Donegall Square West, Belfast BT1 6JS. Northern Bank Limited is a member of the Danske Bank Group. Northern Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Northern Bank Limited is entered in the Register maintained by the Financial Conduct Authority, Financial Services Register registration number 122261. VAT number GB853 7590 92. Northern Bank Limited adheres to the Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.