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  6. I have received an overdraft text alert but I can’t pay in by the time it tells me to, what will happen?

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I have received an overdraft text alert but I can’t pay in by the time it tells me to, what will happen?

This will depend on the content of the message you have received.

It’s important that in order to avoid any further charges or any unpaid payments, you must pay in sufficient funds as soon as possible to bring your balance back to either a positive balance, or within your arranged overdraft limit. If you are experiencing financial difficulties, please call us on 0344 844 8899. Lines are open 8am-8pm Monday to Friday, 9am-5pm Saturday’s. Call charges.

The text message may include one or more of the following messages:

If the message is telling you there isn’t enough money for payments due that day:

It’s likely these payments will be unpaid. You will be sent a letter if we have been unable to pay any of your scheduled payments such as direct debits, standing orders or future dated bill payments.

If the message is telling you that you may enter into an unarranged overdraft due to payments leaving your account that day:

It’s likely you will be charged interest on the unarranged overdraft balance. You will be notified of these charges in your next statement. It’s also possible that some of your payments may not be paid. You will be sent a letter if we have been unable to pay any of your scheduled payments such as direct debits, standing orders or future dated bill payments.

If the message is telling you that you have already entered into an unarranged overdraft:

You will be charged interest on the unarranged overdraft balance and you will be notified of these charges in your next statement.

For more information on account charges, please read your account charges leaflet.

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  • How often will I receive overdraft text alerts?

    You will receive an overdraft text alert either before you go into or when you enter into an unarranged overdraft. The alerts will also be sent when you don’t have enough funds in your account to make all of your scheduled payments that working day.
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  • Can I opt back into receiving overdraft text alerts if I have opted out?

    : Yes, you can opt back into receiving overdraft text alerts at any time.
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  • Are overdraft text alerts secure?

    Yes, they are secure. The text message will come through with the name ‘Co-optiveBk’ as the sender and we’ll only include the last four digits of your account number
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