What is an Arranged Overdraft?
An Arranged Overdraft is where you agree a set limit with us, that lets you spend more than you actually have in your current account.
For example, if you have an Arranged Overdraft of £100 but only have £50 in your current account, an Arranged Overdraft would allow you to make a payment of up to £150.
There's no set up fee when you apply for an Arranged Overdraft (although there can be usage fees and interest charged for actually using it), but they often work out cheaper than using an Unarranged Overdraft.
Did you know:
- No charges apply to Arranged Overdrafts up to the amount of £10 for; Select Account, Reward Account, Reward Private Account & Reward Silver
- No charges apply to Arranged Overdrafts up to the amount of £250 for the Reward Platinum
- No charges apply to Arranged Overdrafts up to the amount of £500 for our Reward Black*
What are the costs?
The cost of using our overdrafts depends on the type of current account you have.