Is an overdraft right for me?
Understanding overdraft fees & charges
How much will my overdraft cost?
We won't charge you for setting up an Arranged Overdraft but if you use it, depending on your account type, you may need to pay fees and interest.
We can help you understand these costs better, and give you some tips to help avoid them.
Managing your overdraft
There are a number of ways you can manage your overdraft, you can apply to increase or decrease your existing overdraft, or if you're a Select Account customer you can have the added protection of overdraft control.
Avoiding unarranged borrowing
To help you monitor your overdraft, we’ve created two simple alerts that notify you before you go overdrawn.
Act Now Alerts
This free service will text or email you if you need to pay money into your account to cover a payment. It will also notify you if you need to bring your account back into credit or within your arranged overdraft limit.
We’ll text your balance to you each week on whatever day suits you – you can even specify morning or afternoon. You can also set up alerts to tell you when your account goes above or below a certain limit – so you’ll know when you’ve received a large payment or if your money’s running low.
Network charges may apply to text messages received.
Finding the right account
Our Basic and Young People accounts don’t offer an overdraft facility, and some accounts have a higher interest-free payment threshold. So it’s worth checking you have the right account for you needs.
Use our comparison table to make sure you have the right account.