From 1 April 2020, we will be applying rates of 15%, 25% and 35% EAR for arranged overdrafts on our Personal Current Account. We’ll also be removing all unarranged overdraft fees. We consider a range of factors when we calculate what overdraft rate to offer you, including information from multiple credit reference agencies.
The changes will be communicated to customers, so you will know the exact rate you’ll pay from 1 April 2020 and how much this will cost you in pounds and pence. We’ll always provide you with at least two months’ notice if we’re going to increase the rate you’ll pay on your overdraft.
You can read the details of what is changing and why in our blog, here.
As always, we’re here to help. If you’re struggling to pay off your overdraft or feel worried or stuck, we're here to help, so just contact customer service in-app via Live Chat, message or phone.