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Rates And Charges

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Overdraft charges

If you use your 1st Account to make payment when you:

  • do not have enough money in your account and have not agreed a formal overdraft arrangement with us; or
  • go over your formal overdraft limit.

you may have to pay bank charges.

The table below gives 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 going over your agreed limit wherever possible and you should contact us if you need help to manage your account or are struggling with your finances.

We could add other charges and interest to your account if you try and make payments when you do not have enough money. For details of all the charges and interest rates for your 1st Account, click here.

Choose an example below which shows how you might manage your 1st 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 avoid charges in future.

 

Example Reasons you might be charged Charge
1

We refuse a payment from your account because there is not enough money in your account.

Up to £10 - no charge

Up to £25 - £10 per item

Above £25 - £25 per item
2

A payment from your account takes you into an informal overdraft by less than £10.

You are overdrawn or over your limit for one day during the month.

£0*
3

A payment from your account takes you into an informal overdraft and you make another payment from the account while you are overdrawn or over your limit.

You are overdrawn over your limit for two days in a row during the month.

£25*
4 A payment from your account takes you into an informal overdraft, and you make nine more payments from the account while you are overdrawn or over your limit.

You are overdrawn or over your limit for 10 days in a row during the month.

£125*
5

A payment from your account takes you into an informal overdraft. You are overdrawn or over your limit for one day.

However, on three more occasions during the month, a payment takes you into an informal overdraft. On each of these occasions you are overdrawn or over your limit for three days in a row.

£75*
6

A payment from your account takes you into an informal overdraft. You are overdrawn or over your limit for 21 days in a row during the month and you make 12 more payments from the account while you are overdrawn or over your limit.

£150.

 

When you open a 1st Account we automatically offer you a £500 overdraft, this means you would avoid the charges shown in scenarios 2 to 6. We review this limit each year and your facility can be more or less than £500. If you have a first direct account you can check your overdraft limit by logging onto Internet Banking, calling us on 08 456 100 100, or by referring to your facility letter.

*The table above assumes this is your first request for an overdraft, either formal or informal, in the past six months. If we have already agreed an overdraft for you in the six months prior to this request, examples 2, 3, 4 and 5 will include an additional charge of £25.

If you make more than one payment on the same day we take this as one overdraft request and only charge one fee. The charges for scenario 4 are based on ten payments debiting over six separate days in the statement period.

The maximum you can be charged in arrangement fees for informal overdraft increases in any statement period is £150.