An overdraft is a great way to borrow money on your bank account in the short term, giving a handy safety net for those unexpected bills and payments, forgotten direct debits, or when you just need a bit more to last you until payday.
Only pay a daily fee of 1p for every £7 you borrow, charged at the end of each day you use your overdraft. If you go overdrawn by less than £7, there’s no fee to pay.
If you miss a payment or go over your limit, we will not charge any additional fees on top of the daily fee.
Our mobile alert service warns you when you get close to using your overdraft, or near your agreed overdraft limit.
An account overdrawn by £500 over the fee-free amount (or with no fee-free amount) would pay a fee of 71p per day. Calculated at 500 divided by 7 = 71, equal to 71p per day.
Our Ultimate Reward Current Account includes a £300 fee-free limit, allowing you to go overdrawn up to that limit without having to pay any daily fees.
For example - If you used £500 of your available overdraft, you would only pay a fee of 28p per day.
Our Student Current Account comes with a fee-free overdraft limit of up to £1,500.
To get an overdraft, you need to pay in your salary or other regular funds into your bank account.
Overdrafts are intended for short term borrowing on your bank account. For longer term borrowing, other borrowing options may be more suitable.