Current accounts

Formal Overdraft

With a formal overdraft we agree an overdraft with you – for example £200 – and you can then go overdrawn by up to that amount.

• There are no fees for this
• You pay debit interest on whatever you go overdrawn by.

Informal overdrafts

An informal overdraft is what happens if you spend more than you have in your account or go over your agreed formal overdraft limit.

• There’s normally a charge for an informal overdraft.
• You pay debit interest on whatever you go overdrawn by.

Representative

Lending decisions are based on personal circumstances, so the rates we offer may vary between customers. When we advertise our products, we use representative rates to show what the majority of customers may be offered.

Eligibility

Our eligibility criteria helps us make responsible lending decisions. It’s good for customers to know our eligibility criteria before applying. Eligibility is not a guarantee of acceptance.

Contactless

Contactless is a secure, fast and convenient way to make card purchases. Contactless payments are limited to £30 per transaction. Instead of entering a PIN, you touch your card against the card reader. Contactless technology uses the same security as chip and PIN, so you’re protected from fraud.

Chip and PIN

Chip and PIN is proven to reduce fraud by making card transactions even more secure. When making a card payment, just enter the same PIN you use when using an ATM. Never write down your PIN or share it with anyone else.

EAR (Equivalent Annual Rate)

This is the interest on the money you borrow, equivalent to if you borrowed the money for a whole year.

Variable

When a rate is advertised as variable, it means that it could go up or down.

Important information about our call charges

If you’re calling from the UK, calls to 0800 and 0808 numbers are free from landlines and mobiles; calls to 03 numbers cost the same as calls to numbers starting with 01 and 02; calls to 0845 and 0870 numbers cost 3p per minute, plus your phone company’s access charge; calls to 0844 and 0843 numbers cost 7p per minute, plus your phone company’s access charge. Charges for calls made outside of the UK will be determined by your local provider.

Calls may be monitored or recorded for security and training purposes.