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About arranged overdrafts

An arranged overdraft is an overdraft that has been agreed with us in advance. It can be used as a short-term safety net for unexpected bills or payments. You'll only pay interest on your arranged overdraft balance if you use it.

Features and benefits:

  • Only pay when you use it - It's free to set up an arranged overdraft 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.
  • Helping you decide - You can check the cost of using an arranged overdraft with our overdraft calculator below.

About unarranged overdrafts

If you go overdrawn or exceed your arranged overdraft, this is known as an unarranged overdraft. This means that it 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. Bear in mind that missing payments and using an unarranged overdraft can damage your credit score, so please call 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.

How much will it cost me?

Our cost calculator will let you know how much your borrowing will cost you. Please note that in order to support our customers through the impacts of Coronavirus we are continuing to temporarily waive the interest on your arranged overdraft. This means you will be charged 0% until 31st October 2020. From 1st November 2020, the arranged overdraft interest rate will return to 19.90% EAR/18.29% gross per year (variable).

You can check the cost of borrowing from 1st November by using the calculator below.



To speak to one of our Client Service Consultants about an overdraft, please call 0345 602 6200. If you are overseas, please call +44 131 5499011.

We are open 8am to 8pm Monday to Friday and 9am to 4pm on Saturday.

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