Personal Finance Topic 4

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This is a flash cards of Personal Finance level 2 Unit 1 topic 4
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Current Acount Is the most common type of bank account and it is suitable for everyday needs.
Standing orders These are payments that you can set up to be made from your account to another account on a regular basis
Direct debits These are instructions given to your bank to allow certain companies
An overdraft Allows you to spend more than you have in your account
Notice account Must tell the bank or building society before you want to take money out of a notice account
Mortagages Secured on the home that they are used to buy
APR Annual percentage rate
AER Method of comparing interest rates on savings
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