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.
If you use your arranged overdraft, you’ll pay a daily arranged overdraft fee over your fee-free amount (if your account has one). The daily arranged overdraft fee is 1p for every full £6 you borrow up to £1,250, 1p for every further full £7 you borrow between £1,250 and £2,500, and then a further 1p for every full £8 you borrow over £2,500.
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.
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.
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.