Notice of Default Sums

What is a default sum?
A default sum is a charge incurred on your account for any activity which breaks the conditions of your account.  The most common reasons for incurring a default sum include:

• Exceeding your agreed card spending limit
• Missing your minimum payment date / amount
• Returned payments

Why are you advising me of this change?
From 1st October 2008, any default sums incurred must be shown on a Notice of Default Sums, which we will be including as part of your statement.

As a result, we have to re-obtain your authorisation that you wish to continue receiving your statements online, as these will now include a Notice of Default Sums where appropriate.  Without your consent, we have to revert you back to postal statements.

How will these appear on my statement?
Any incurred default sums will show on your statement beneath the 'Summary of charges' box, under the heading 'Notice of Default Sums'.