Overdrafts

An unarranged overdraft is when you spend more money than you have in your account and you haven’t previously arranged an overdraft limit with us, or have gone over your existing limit. If this happens, we’ll charge you a fee on the extra amount you go overdrawn. We won’t charge you more than £24 in a monthly charging period for an unarranged overdraft or any unpaid transactions.

An unarranged overdraft usage fee of £8 is charged daily if you use an unarranged overdraft. This fee will only be charged if your unarranged overdraft is over £10 at close of business on the day a transaction is paid or taken from your account (and on each subsequent day that your unarranged overdraft remains over £10).

We won’t charge you more than £24 in a monthly charging period for an unarranged overdraft or any unpaid transactions.

An unpaid transaction fee of £2.15 is charged for each transaction that we return unpaid. A transaction (e.g. a direct debit) will be returned if the payment cannot be met from funds in your account or any unused arranged overdraft facility and we decide in our discretion not to make the payment.

We won’t charge you more than £24 in a monthly charging period for an unarranged overdraft or any unpaid transaction. We don’t charge interest on unarranged overdrafts.

We won’t charge more than £24 in a charging period for an unarranged overdraft or unpaid transaction.

Each current account will set a monthly maximum charge for:

• Going overdrawn when you have not arranged an overdraft; or
• Going over/past your arranged overdraft limit (if you have one).

This cap covers:

• Interest and fees for going over/past your arranged overdraft limit;
• Fees for each payment your bank allows despite lack of funds; and
• Fees for each payment your bank refuses due to lack of funds.

This is a standard definition of the monthly maximum charge, but please note that we don’t charge unarranged overdraft interest.

If you have an arranged overdraft with us and you use it within the buffer for your account type, you will not pay any interest.

If the amount you go overdrawn on your arranged overdraft exceeds this buffer, you will pay interest on the overdrawn balance. Please note: in these circumstances, interest will be charged on your entire balance, including the amount below the interest free buffer.

Charges are accrued during a charging period. At the end of the charging period you will be notified of the total amount owed and when it will be taken from your account - this will be 21 days after the end of the charging period.

The charging period start date is always the day after the account statement is produced i.e.

• If statements are set to be produced on the 1st of the month, the charging period will start on the 2nd and finish on the 1st of the next month.