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What does AER mean?

AER stands for ‘Annual Equivalent Rate’ and is the interest rate for a whole year, assuming that interest payments within the year (monthly in the case of a Tide Instant Saver) remain in the account and contribute to future interest payments. Simply put, AER is the interest rate including compounding. AER makes it easier to compare different savings accounts on the market and understand which one might be the best fit for your business.

  1. Sort Codes: If the sort code is 04-06-05 – the account is with ClearBank, if the sort code is 23-69-72 – it is with PPS

  2. Statements: The footer of members’ statements will give details of the account provider and terms

  3. By requesting an Account Verification Letter (AVL) from Tide

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