Although an Arranged Overdraft with your Student Account is interest free, it is a form of debt and is repayable on demand. Always make sure you have enough money in your current account, or a suitable Arranged Overdraft limit in place, before any payments are due to come out of your account.
If you don't have the available funds for payments leaving your current account, they may be returned unpaid. If this happens there is an Unpaid Transaction Fee of £6 charged for each transaction we reject (Subject to a maximum of £60 per charging period*).
Your charging period runs from month to month, usually from the date you opened your account. For example, if you opened your account on 15 August, your charging period will run from the 15th of each month to the 14th of the next month. You can find out your charging period by contacting us.
Use our Overdraft Calculator to see how an Arranged Overdraft can help save you money.