Overdrafts are intended for short term borrowing and not suitable for long term borrowing.
An arranged overdraft is a set amount you've agreed with us in advance. There are no charges for an arranged overdraft but you'll pay interest.
To help manage your money and avoid/minimise charges you might pay, we send overdraft text alerts if you go into or you're about to go into an arranged or unarranged overdraft. We will also send alerts if you have payments due that may not be paid.
As long as we have your mobile number, you'll be automatically opted in for overdraft text alerts. You can opt out of arranged and/or unarranged overdraft alerts at any time by contacting us.
Approval is based on a credit check, an assessment of your personal circumstances and is subject to status.
Assumed credit limit
With debit interest at
This is a scheme you can opt into at no extra cost, which rewards you for Everyday Banking each month.
When you switch your current account to The Co‑operative Bank, we do all the hard work.
The interest rate you'll have to pay on any overdrawn balance:
There are charges for an unarranged overdraft (when you go over your arranged overdraft limit).
To help you avoid/reduce charges and/or paying interest, if you have registered your mobile phone number with us, you will automatically be opted in to the Overdraft Alerts Service.
When you go over your arranged overdraft limit (by more than £20) you’ll be charged:
Each day your unarranged overdraft increases, you'll be charged:
A Statement of Fees will be sent to you at least once every 12 months. It’s an overview of all the fees and charges applied to your current account within the time period shown on the statement. We will also include any debit or credit interest and refunds where applicable.
It will be sent to you by post, even if you have opted in to paperless statements. You won’t be able to see this when you are logged into online banking.
You will be charged for using an unarranged overdraft and for going over your arranged overdraft limit.
Our lending commitments and what we ask of youDownload Our lending commitments and what we ask of you PDF (112KB)
Help and information about current accounts for our existing customers.
The Co-operative Bank reserves the right to decline any application.
Whether we can offer you credit depends on your circumstances and our lending policy. We may decline your application based on your circumstances or our lending policy. We may be able to offer a product that's different to the one advertised.
smile, The Co-operative Bank and Britannia are trading names of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).
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