GOOD TO KNOW

Here are some important details about the daily overdraft fee and the alerts we’ll send you. Please make sure you’re aware of what happens in practice.

You won't run up more than the maximum fees your overdraft allows.

You’ll only pay fees on what you borrow up to your planned overdraft limit. If a payment takes you over your limit or we stop it, you won’t be charged anything more than the daily overdraft fee for your planned overdraft limit.

What happens if you go over your overdraft limit.

From 2 November, we will no longer charge a Returned Item Fee for payments that don't go through because there are not enough funds available. This might include debit card or contactless payments. If this takes you over your limit, we won't charge the fee on the part that we couldn't stop. There are some other reasons why this might happen. These are set out in your account terms and conditions.

You’ll see any daily overdraft fees listed in your statement.

You can check for yourself at any time with the mobile app, or online, or at an ATM by getting a mini statement. The fee will be shown as the last item charged to your account, at the end of every day that you use your overdraft. The statement description will say what date each fee relates to. We'll only charge a daily overdraft fee if your account is overdrawn at the end of the day.

For a short time you may pay both daily and monthly overdraft fees.

If you use your overdraft before 2 November, you may still have some monthly fees to pay after the change happens. This is because we charge overdraft fees in a single payment at the moment, up to two months later. If you use your overdraft after 2 November, you'll pay the new daily overdraft fee as well. So, for a short time, you may see both types of fees on your statement.

You may have time to avoid fees or stopped payments.

Your payments will go through as usual if you have enough funds available in your account before 2.30pm (UK time) on the day they are due to go out. This may give you time to transfer money from one of your other Halifax accounts, or to pay in cleared funds from another bank. You also have until the end of every day to cover your overdraft balance in the same way and avoid a daily overdraft fee.

We will send you mobile alerts to tell you if you're going to pay fees.

If we have a mobile number for you, we'll send alerts to your mobile phone when you start to use your overdraft, and when your balance is getting close to your overdraft limit. We’ll also send an alert if there’s not enough in your account to make a payment. So, you'll know when you are about to be charged fees, or when a payment may be stopped. This may give you time to put some money into your account.

You must provide us with your current mobile number to get these mobile alerts.

You need to make sure we have a mobile number for you, so that we can send the alerts.

We can send you these important alerts if we have a mobile number for you. You can check if we have - or set one up - through Online Banking, in a branch, or by calling us on 0345 720 3040. You can opt out of mobile alerts if you prefer, but you won’t then get alerts about your overdraft.

What to expect if you go over your planned overdraft limit.

If you don’t have enough money in your account or you reach your limit, you may not be able to make any more payments. This means your mortgage or rent, loan and credit card repayments and utility bills may not be paid if you don’t have enough funds available in your account. Some suppliers may charge you fees for missing those payments.

If we hold a mobile phone number for you, we’ll send you alerts to help keep on top of your balance

We may not be able to stop every payment that may take you over your limit. If a payment takes you over your limit or we stop it, you won’t be charged anything more than the daily overdraft fee for your planned overdraft borrowing.

We’re removing charges for accounts with Control.

You may have had Control with some types of account. It helped you stay within your overdraft limit. All our accounts will have features similar to Control, so we’re removing the £10 monthly fee.

If you’ve made a plan with us to repay your overdraft, this will stay the same.

Your account won’t be affected by the new fee if our Collections team is working with you on paying back your overdraft. If we've agreed a plan between us, just keep up your payments as normal.


Overdraft Fee Calculator

Work out what your new overdraft fees could be with our