Overdraft

When you use an arranged or unarranged overdraft, we will charge you debit interest at an annual interest rate of 35.9% variable on the amount you are overdrawn by, unless you have an account with an interest-free overdraft.

You can check if you have an existing overdraft on your account in online banking, the mobile app or on your statement.

Monthly charge cap

We will not charge you more than £60 for any type of overdraft charge (including debit interest) in one charging period. This means that the maximum you’ll pay in any charging period will be £60, regardless of whether you use an arranged overdraft, unarranged or both.

You can find more information about charges in our important documents.

Text alerts

To help you manage your money and limit any charges, we'll send you text alerts to notify you before you go into an arranged/unarranged overdraft and when you've entered one. We'll also send an alert if you do not have enough money in your account to cover the payments scheduled to come out that day.


If we have your mobile number, you'll automatically be signed up for overdraft text alerts. You can opt out at any time by contacting us.



Find out more about overdraft text alerts

Contact us to opt out of overdraft text alerts

We have a £60 cap on interest for any type of overdraft (arranged overdraft or unarranged overdraft) in one charging period. This is the maximum you will ever pay for using an overdraft per charging period.

The monthly cap refers to the charges applied in a charging period not a calendar month. Please refer to the Account Charges Leaflet (PDF) for details of the charging periods.

Below is a standard definition to allow you to compare unarranged overdraft charges across different providers. Fees are included in the comparison, but we choose not to charge you fees for payments where you have a lack of funds.

1. Each current account will set a monthly maximum charge for:
   a) going overdrawn when you have not arranged an overdraft; or
   b) going over or past your arranged overdraft limit (if you have one).
2. This cap covers any:
   a) interest and fees for going over or past your arranged overdraft limit;
   b) fees for each payment your bank allows despite lack of funds; and
   c) fees for each payment your bank refuses due to lack of funds.

The following examples show representative Annual Percentage Rates (APR) for using an overdraft on some of our current accounts.

The representative APR provided can enable you to compare the costs across different products and providers.

The annual interest rate is 35.9% variable but this only shows the interest that you pay. APRs include the interest rate and additional fees that come with the borrowing. This makes it easier for you to compare the cost of using different products with each other.

The examples below are based on a £1200 overdraft limit. They include any monthly fees for maintaining the account and any interest-free overdraft limits provided with some accounts.

Current Account, Everyday Extra and Current Account Plus

35.9% representative APR variable

Privilege Account

47.6% representative APR variable

The APR includes the monthly fee of £14 for maintaining the account, and an interest free limit of £200.

Privilege Premier Account

50.3% representative APR variable

The APR includes the monthly fee of £18.50 for maintaining the account, and an interest free limit of £300.

As an example, the interest you would pay for borrowing £500 for 7, 30 and 60 days is:

7 days

£2.98

30 days

£12.76

60 days

£25.66

This example is based on borrowing £500 on the first day of our charging period. It assumes you are overdrawn by this amount for 7, 30 or 60 days before repaying the balance. It does not take into account any interest-free overdraft limits provided with some accounts.

You can use our overdraft cost calculator to see the cost of using different overdraft limits over different periods of time.

You can use our overdraft eligibility checker to check how likely you are to be accepted or rejected for the overdraft you’d like, before you apply.

Open overdraft eligibility checker

Alternatively, you can check the following criteria.

You must be:

• aged 18 years or over
• a UK resident
• employed, self-employed or retired (including medically retired).

You can still apply if you receive one or more of the following:

• pension income
• rental income
• disability benefit (Disability Living Allowance, Incapacity Benefit, Personal Independence Payment or Universal Credit equivalent)
• child maintenance
• child tax credits (or Universal Credit equivalent)
• working tax credits (or Universal Credit equivalent)
• carer's allowance
• statutory maternity, paternity or shared parental pay
• employer-paid maternity or paternity allowance
• universal credits - only alongside salary, wage or disability benefits.

You must not:

• be a Cashminder customer
• have had any County Court Judgements or defaulted on any credit agreements in the last 2 years
• currently be 2 or more payments in arrears on any credit agreement
• have had any Individual Voluntary Agreements, trust deeds or been declared bankrupt in the last 6 years.

Pre-contract documents

You must read the pre-contract document relevant to your account and save a copy for future reference.


Download Current Account (including Everyday Extra) overdraft pre contract information (PDF)
Download Student overdraft pre contractual information (PDF)

Other important documents

You must also read these important documents and save a copy for future reference.


Download Account charges (PDF)
Download How overdrafts work (PDF)

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

Your overdraft limit or credit limit is the total amount we agree in advance that you can borrow up to at any time using your overdraft. We decide how much we will allow you to borrow based on your credit rating and other information about you.

This means that you have taken early retirement because you have a health condition or disability that stops you from being able to do your job.

Unless we tell you otherwise on your statement, the charging period used for interest, commission and charges is the fifth day of the first month of the charging period to the fourth day of the next month. When these dates do not fall on business days, the charging period will begin or end, as applicable, on the next business day. Please check your statements for details of any interest or charges that may be applicable.

APR stands for Annual Percentage Rate. It is an illustration of the cost of borrowing over a year, taking into account the interest rate and any additional fees. You can use APR to compare the cost of similar products.

Variable means that the rate could go up or down.

Arrears refers to money that is owed and overdue.