Find out if an arranged overdraft is right for you with our eligibility tool and cost calculator.
About arranged overdrafts
An arranged overdraft can be used as a short-term safety net. You can use it to borrow money for any unexpected bills or payments. The amount you can borrow is agreed with us in advance and you’ll only pay interest on your arranged overdraft balance if you use it.
Features and benefits:
- Only pay when you use it - Setting up an arranged overdraft is free and you’ll only pay interest on your arranged overdraft balance if you use it.
- Managing your arranged overdraft - You can reduce, remove or apply to increase your arranged overdraft by calling us. Bear in mind that you must repay anything you owe if you want to remove an overdraft, or repay any amount above the new reduced limit you want. This application won't affect your credit score.
- Tools to help you decide - You can check your eligibility and calculate the cost of an arranged overdraft using the tools provided below.
- Receive text message alerts - If we have a mobile number for you, we’ll help you keep an eye on your balance with text message alerts.
About unarranged overdrafts
An unarranged overdraft is an overdraft that hasn’t been agreed with us in advance. If you don't have enough money in your current account to make a payment, we may let you borrow through an unarranged overdraft or refuse to make the payment. Missing payments and using an unarranged overdraft can damage your credit score, so please get in touch with us as we may be able to help.
All overdrafts are subject to our assessment of your circumstances and are repayable in full on demand. You must be aged 18 or over to apply.
If you’re looking to borrow money, it is important you compare and choose the right options for you based on your circumstances.
No unarranged overdraft interest, fees or charges apply.
See if you are eligible – for existing customers only.
Find out how likely you are to be approved before you apply, with no impact on your credit score.
This tool gives an indication of how likely you are to be approved. For a full review of your eligibility, please call us on 0345 609 4343.
How much will it cost me?
Our cost calculator will let you know how much your borrowing will cost you. You can check the cost of borrowing by using the calculator below.
Our current interest rates and charges:
- For an arranged overdraft: 19.90% EAR (variable) representative
- You don’t have to pay interest, fees or charges for using an unarranged overdraft.
Based on your inputs:
Your overdraft fees would be
Total arranged interest = ##arrangedintrestcost##
Total unarranged interest = ##unarrangedintrestcost##
Total unarranged fees = ##unarrfeecost##
Total = ##totalcharges##
To speak to us about an overdraft, please call us on 0345 609 4343.
We are open 8am to 8pm Monday to Friday and 8am to 4pm on Saturday.
This calculation assumes there are 30 days in each month. If you don't have enough money in your current account to make a payment, we may let you borrow through an unarranged overdraft or refuse to make the payment. Missing payments and using an unarranged overdraft can damage your credit score, so please get in touch with us as we may be able to help.
Overdraft text message alerts
How text alerts can help you
It’s important to monitor your account regularly to make sure you have enough funds to make any payments due. Alerts help you manage your money and avoid charges by reminding you when you need to pay cleared funds into your account. They can also help you avoid going into an unarranged overdraft.
When you will receive text alerts
You will be automatically enrolled into our alerts service if we have an up-to-date mobile number for you. You can check the number we have for you by calling us on 0345 609 4343. You are able to opt-in and out of these alerts anytime.
If you have an arranged overdraft, we’ll let you know by text when:
- You're about to use or you've started using your overdraft. This will help you minimise charges.
To stop these alerts, text STOPA to 62227 or to opt back in, text STARTA to the same number.
To help you manage your balance we’ll let you know by text when:
- You need to pay money in to the current account to cover a standing order
- You’re about to use or have started using an unarranged overdraft.
To stop these alerts, text STOPU to 62227 or to opt back in, text STARTU to the same number.
If you’d like to stop all overdraft alerts, text STOP to 62227 or to opt back in, text START to the same number.
Your preferences to opt in or out of alerts will be applied to all your current accounts. Opting in and out of these alerts is free.
Stopping alerts may mean you miss important messages and incur avoidable costs.
You can receive text alerts abroad, but please check with your service provider for any charges you will incur.
Making sure you get a fair deal
We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.
To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.