Log in to Personal Banking Skip to content
  1. Home
  2. Help & info
  3. Accounts
  4. Current account
  5. Overdrafts
  6. Will I be charged for having an overdraft?

Help & info

Just type in your query, or have a look at the list of popular questions below.

Will I be charged for having an overdraft?

Some charges may apply and will depend upon the circumstances of your overdraft, for example if it is an unarranged or arranged overdraft.

In some cases there might be debit interest charged, which is when interest is charged on your account for the time you were overdrawn.

You can become overdrawn when your balance goes into a negative amount or if you exceed your arranged overdraft limit.

To help you avoid / reduce charges, if you have registered your mobile phone number with us, we will automatically send an overdraft text alert to notify you when you are about to enter, or when you have entered 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 Business Day. This will give you the opportunity to pay in sufficient funds to bring your account balance back to either a positive balance, or within your arranged overdraft limit.

If you haven't already, you can register your mobile phone number when you've logged in to online banking. Once you have logged in, go to ‘Profile’ and select ‘change your contact details’. You will need your card reader and a valid debit card to do this. Alternatively, you can contact us. Find out more about the Overdraft Alerts Service.

Read more about our overdraft options

Was this article helpful?

Thank you for your feedback

We will use your feedback to improve our answers. For further assistance Contact us

Thank you for your feedback

We will use your feedback to improve our answers. For further assistance Contact us

Related Articles

  • 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.
    Learn more

  • 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
    Learn more

  • 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.
    Learn more