We offer other current accounts with different overdraft interest rates or without the option for an overdraft facility. If you use an arranged overdraft of £1,200 you’ll be charged an interest rate of 39.94% APR/ EAR (variable). How does our overdraft compare? The purpose of a representative APR is to enable customers to compare the costs associated with different credit products. The table below shows you how you’ll be charged for using your overdraft. We don’t charge fees for allowing or refusing a payment due to lack of funds.Īlready completed the eligibility checker? You can retrieve your previous decision If we allow a payment, it will take you into an unarranged overdraft. When you try to make a payment that would take you into an unarranged overdraft, we make the decision whether to allow or reject the payment based on your individual circumstances. We may ask you to repay all or part of your overdraft at any time but we'll try to notify you of this in advance.Īn arranged overdraft is when we let you borrow up to a pre-agreed limit – you can ask for one when you open your account or at any other time.Īn unarranged overdraft occurs when your account goes overdrawn without an arranged overdraft in place or if your account goes over your arranged overdraft limit. Overdrafts depend on your circumstances and you must repay any overdraft when we ask in line with our General Terms and Conditions. This could make it harder or more expensive to get credit with us or other providers in the future. The way you manage your overdraft, for example if you don’t repay your interest and charges regularly, may affect your credit file. There is a cost associated with using an overdraft. It’s intended mainly for short term costs or emergencies and isn’t generally suitable for longer-term borrowing. The Fee Information Document (149 KB) details the main fees and charges on this account, including those associated with using an overdraft.įor further explanation of our main terms and services take a look at our Glossary OverdraftĪn overdraft lets you borrow through your current account. It’s paid from your account automatically each month.
There’s a £4 monthly fee to maintain the account. Investment fees, charges and key documents.
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