Current Account Control

Freeing you from unplanned borrowing charges

No one likes paying bank charges. But that’s exactly what happens if we agree to pay a transaction when there aren’t enough available funds to cover that payment– or if a payment takes you over an agreed overdraft limit, should you have one. These fees are called unplanned borrowing charges. If you find you’re always juggling your finances to avoid these charges or you regularly see fees on your statement, our new Current Account Control could help you.

What you get

• Debit Card lets you pay for goods and services in person, by phone, online and abroad
• Get CashBack from participating retailers
• Withdraw up to £350* a day or top-up a mobile phone, 365 days of the year at any Yorkshire Bank ATM or ATM in the UK or abroad
• Pay your bills using Direct Debit or standing order
• 24 Hour Telephone Banking and Internet Banking
• More frequent statements can be requested and are subject to a charge
• Your salary, wage, pension or grant can be paid directly into your account
• Mobile phone top-up at ATMs.

Avoiding unwelcome fees

The Current Account Control works just like a traditional current account. The difference is that, for £15 a month, the account usually stops payments being processed that would incur unplanned borrowing charges. Avoiding these unwelcome fees could help you budget more easily and take control of your finances.

Exceptions

It’s important to know that with Current Account Control there are still times when payments can go through, even if you don’t have sufficient funds in your account. While you’ll never face unplanned borrowing charges when this happens, you’ll be charged debit interest. For example, this could happen when:

• There’s not enough money in your account to cover the £15 monthly fee or any interest charges
• You use your debit card at a retailer that doesn’t check whether you have available funds for the purchase – this usually happens with smaller transactions
• You spend money abroad, and the foreign exchange rate fluctuates between the date you made the transaction and the date it’s charged to your account
• We have to take the money from your account when a cheque you paid in is returned unpaid
• A transaction is passed to us from a retailer outside of our normal timescales for processing transactions
• You have agreed that a retailer may charge a higher amount than originally authorised or substitute different goods after your card purchase was authorised (for example where substitute goods may have a higher price or in the case of transactions for hotels or car hire services).

Checking your account regularly

With this account, payments such as monthly standing orders and Direct Debits for bills and household expenses can be unpaid if paying them would take you into unplanned borrowing. That could include important payments such as your mortgage or insurances. So it’s a good idea to check your account regularly by telephone, online banking or cash machine. You may also want to change the dates of your standing orders and Direct Debits, so you know you have available funds when they leave your account. Your local branch will be happy to help you set up the right payment arrangements.

If you’re switching from an existing Yorkshire Bank account to Current Account Control, please make sure that you have enough available funds to cover any payments made before the account switch that are charged to your account afterwards.

Taking the next step

If you feel Current Account Control could help you manage your finances, please contact your local branch. We’ll discuss your options and explain what happens when you switch. Even better, if you later feel the account isn’t right for you, we can switch you back to your current banking arrangement, (subject to payment of your normal account charges) The choice is all yours.

GLOSSARY OF TERMS
Planned borrowing
Borrowing that you've agreed with us in advance is called planned borrowing. If we can't help you with planned borrowing, you can ask why and we’ll explain the main reason. If we agree to the borrowing, we'll let you know in writing. Borrowing is subject to status and you must be at least 18 years old.

Unplanned borrowing
Unplanned borrowing occurs when you ask us to make funds temporarily available to you, by trying to make payment when you don't have enough money in your account or sufficient planned borrowing arranged. Although Current Account Control is designed to stop these payments being made, there are times when these payments will be made and we have given examples of these in this factsheet. In these situations we will treat your payment as a request for unplanned borrowing. You won’t pay unplanned borrowing charges but you will pay debit interest.

If we return a cheque, standing order or Direct Debit unpaid because you don’t have enough money in your account, we’ll let you know in writing.

Applicants must be 18 or over. Yorkshire Bank is as trading name of Clydesdale Bank PLC which is authorised and regulated by the Financial Services Authority (FSA Register No. 121873). Clydesdale Bank PLC. Registered in Scotland (No. SC001111). Registered Office: 30 St. Vincent Place, Glasgow, G1 2HL.