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Unplanned Borrowing Scenarios

Overdrafts and bank charges

If you use your current account to make payments when:

  • You do not have enough money in your account and have not agreed a planned overdraft arrangement with us; or
  • The payment takes you over the limit of your formal overdraft arrangement;

You may have to pay charges as a result.

The tables below gives some examples of our charges for making payments from your account when you haven’t enough money.

We developed these examples with the Office of Fair Trading and leading consumer groups to help you to think about how changing the way you use your account can affect the amount we may charge you.

These examples are meant to show how different actions can result in different charges. They are only examples so you shouldn’t see them as actions you might take and charges you might have to pay.

We may not allow you to use your account in the ways shown below. You should avoid using unplanned borrowing wherever possible and you should contact us if you need help to manage your account.

We could add other charges and interest to your account if you try to make payments when you do not have enough money. For details of all the charges and interest rates for our current accounts, click here.

Choose an example below which shows how you might manage your current account. If you have recent bank statements, use these to help you choose. Once you have worked out reasons why you might be charged, it could help you to avoid charges in future.

Current Charges
Cost by Product
Reasons that you might be charged Signature Current Account Current Account Plus Current Account Direct  Current Account Control Readycash Student Account
1. We refuse a payment from your account because there is not enough money in your account. £15 £15 £15 £0 £15 £15
2. A payment from your account takes you into an unplanned overdraft by less than £10.
You use unplanned borrowing for one day during the month.
£25 £25 £25 £0 £0 £0
3. A payment from your account takes you into an unplanned overdraft and you make another payment from the account while you are in an unplanned borrowing position.
You use unplanned borrowing for two days in a row during the month.
£75 £75 £75 £0 £0 £0
4. A payment from your account takes you into an unplanned overdraft, and you make nine more payments from the account while in an unplanned borrowing position.
You use unplanned borrowing for 10 days in a row during the month. Refer undernote
£175 £175 £175 £0 £0 £0
5. A payment from your account takes you into an unplanned overdraft. You use unplanned borrowing for one day.
However, on three more occasions during the month, a payment takes you into an unplanned borrowing position. On each of these occasions you are in an unplanned borrowing position for three days in a row. Refer undernote
£100 £100 £100 £0 £0 £0
6. A payment from your account takes you into an unplanned overdraft. You use unplanned borrowing for 21 days in a row during the month and you make 12 more payments from the account while you are in an unplanned borrowing position. Refer undernote £225 £225 £225 £0 £0 £0
Charges applicable from 1st December 2014
  Cost by Product
Reasons that you might be charged Signature Current Account Current Account Plus Current Account Direct Current Account Control Readycash Student Account
1. We refuse a payment from your account because there is not enough money in your account. £15 £15 £15 £0 £15 £15
2. A payment from your account takes you into an unplanned overdraft by less than £10. You use unplanned borrowing for one day during the month. £0 £0 £0 £0 £0 £0
3. A payment from your account takes you into an unplanned overdraft and you make another payment from the account while you are in an unplanned borrowing position. You use unplanned borrowing for two days in a row during the month. £12 £12 £12 £0 £0 £0
4. A payment from your account takes you into an unplanned overdraft, and you make nine more payments from the account while in an unplanned borrowing position. You use unplanned borrowing for 10 days in a row during the month. Refer undernote £48 £48 £48 £0 £0 £0
5. A payment from your account takes you into an unplanned overdraft. You use unplanned borrowing for one day. However, on three more occasions during the month, a payment takes you into an unplanned borrowing position. On each of these occasions you are in an unplanned borrowing position for three days in a row. Refer undernote £54 £54 £54 £0 £0 £0
6. A payment from your account takes you into an unplanned overdraft. You use unplanned borrowing for 21 days in a row during the month and you make 12 more payments from the account while you are in an unplanned borrowing position. Refer undernote £90 £90 £90 £0 £0 £0

Undernote
If you make more than one payment on the same day we take this as a request for unplanned borrowing and only charge one fee each day when the unplanned borrowing amount exceeds the available funds on your account by more than the buffer amount.

  • Scenario 4 is based on ten payments debiting over six separate days.
  • Scenario 5 is based on the first payment not exceeding the available funds on your account by more than the £25 buffer.
  • Scenario 6 is based on twelve payments debiting over eight separate days.

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