To help you manage your money and avoid/ reduce any charges you may incur, we are now sending you overdraft text alerts.
This is a requirement from the Competition and Markets Authority (CMA) to notify you either before you go into or when you have entered into an unarranged overdraft. We are also required to notify you when you don’t have enough funds in your account to make all of your scheduled payments that working day. An unarranged overdraft will result in you incurring charges and/or paying interest.
An overdraft alert is a text message we send to all personal current account customers who have registered their mobile phone number with us, with the exception of those who have a Cashminder account.
We will send you a text message when:
This means you don’t have enough funds in your account to pay all your scheduled payments due out that working day. You will have until 2pm on the day your scheduled payments are due out to transfer sufficient funds in to avoid them not being paid.
This means you have scheduled payments that have left your account that day which has taken you into an unarranged overdraft. You will have until 9pm on the day your scheduled payments leave your account to transfer sufficient funds in to avoid or reduce charges and/or paying interest.
This means your balance has gone below zero (if you don’t have an arranged overdraft) or you have exceeded your arranged overdraft limit. You will have until 9pm on the day you have entered into an unarranged overdraft to transfer sufficient funds to avoid any future charges and/or paying interest.
If you have followed the instructions on the text alert to credit the account by the time specified, you do not need to do anything else, so there is no need to contact us. Please note that any subsequent transactions will need sufficient funds to be available or you may enter into your overdraft again.
We will not charge you for receiving these text messages, however you may want to check with your network provider as they may charge you in certain circumstances, for example if you are abroad.
You have been automatically opted in to the Overdraft Alerts Service providing we have a mobile phone number registered for you. If you have a joint account, both account holders will be automatically opted in providing you have both registered individual mobile phone numbers.
You may choose to opt out of or opt back into receiving the alerts at any time. To do this, you’ll need to contact us.
Yes, they are secure. The text message will come through with the name ‘Co-optiveBk’ as the sender. We will only include the last four digits of your account number and we won’t include your name, your account balance, any embedded links or phone numbers within the message.
Yes, these are different to the alerts you can set up in the mobile app.
The alerts you set up in the mobile app are balance alerts. You will have set up weekly balance alerts and/or limit alerts where we will let you know if your balance goes under or over a certain amount.
Overdraft text alerts are used to notify you either before you go into 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 working day. These will not include your balance. These will be automatically sent to you providing you have registered your mobile phone number with us.
You can have both sets of alerts active at the same time.
To make sure you are automatically opted in to the Overdraft Alerts Service, you can update/register your mobile phone number via online banking. Once you have logged in, go to ‘Profile’ and select ‘change your contact details’.
Note: You will need your card reader and a valid debit card to update/register your mobile phone number. If you don’t have a card reader or valid debit card, you can request a new one by chatting to us via live chat once you are logged in to online banking.
Alternatively, you can contact us.
It’s important that you can access your money, wherever you are. Take a look at the many ways you can bank with us.
We’re always happy to provide support for customers who need it. 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. For more information on how we can help, visit our financial help page.
Need more information about our Overdraft Alerts Service? Search through our FAQs for the answers you need.
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.