Annual equivalent rate (AER) illustrates what the interest rate would be if paid and compounded each year.

The AER shows what the compound interest on an account would be if the interest was paid out each year instead of every month or over any other period. You may earn less than the AER because your money may not be deposited or invested for as long as a year.

The APR is the annual rate of interest you will be charged on a loan, mortgage or credit card. You can use the APR to compare different loans, as long as you compare them over the same term, for example 3-year loans.

The initial one-off charge made at the start of a loan by some lenders.

ATMs are often called cash machines. They are found at banks, post offices, shops, railway stations, airports and in other public places. As well as dispensing money from your account they may provide information about your bank balance and some other services.