My IF.com

Tools, guides, news and features all with the same aim: to help you make the most of your money.

Speak to us

0345 609 4343

Skip Breadcrumb TrailHome > My IF.com > Overdrafts and bank charges

23rd June - Overdrafts and bank charges

You may have to pay charges if you use the Intelligent Finance current account to make payments when:

  • you do not have enough money in your account and have not agreed an arranged overdraft with us; or
  • the payment takes you over the limit of your arranged overdraft.

The table below gives some examples of our charges for making payments from your account when you haven’t enough money in the account, and our charges if you do so.

We developed these examples with the Office of Fair Trading and leading consumer groups to help you to think about how changing the way you use your account can affect the amount we may charge you.

These examples are meant to show how different actions can result in different charges. They are only examples so you shouldn’t see them as actions you might take and charges you might have to pay.

We may not allow you to use your account in the ways shown below. You should avoid going overdrawn wherever possible and you should contact us if you need help to manage your account.

We could add other charges and interest to your account if you try to make payments when you do not have enough money. View details of all the charges and interest rates for this account at charges and interest.

Choose an example below which shows how you might manage your account. If you have recent bank statements, use these to help you choose. Once you have worked out reasons why you might be charged, it could help you to avoid charges in future.

  Reasons that you might be charged Charge
1 We refuse a payment from your account because there is not enough money in your account. £10
2 A payment from your account takes you into an unarranged overdraft by less than £10.

You are overdrawn for one day during the month.
£28
3 A payment from your account takes you into an unarranged overdraft and you make another payment from the account while you are overdrawn.

You are in an unarranged overdraft for two days in a row during the month.
£28
4 A payment from your account takes you into an unarranged overdraft, and you make nine more payments from the account while you are overdrawn.

You are in an unarranged overdraft for 10 days in a row during the month.
£28
5 A payment from your account takes you into an unarranged overdraft. You are in an unarranged overdraft for one day.

However, on three more occasions during the month, a payment takes you into an unarranged overdraft. On each of these occasions you are in an unarranged overdraft for three days in a row.
£28
6 A payment from your account takes you into an unarranged overdraft.

You are in an unarranged overdraft for 21 days in a row during the month and you make 12 more payments from the account while you are overdrawn.
£28

Back to top

Need help?

Information icon
Application Checklist