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£250 of your overdraft interest-free

Too much month left at the end of your money?

  • an offer of at least a £500 arranged overdraft (subject to status)
  • no interest charges on the first £250 of your arranged overdraft and 15.9% EAR variable on anything above £250 (subject to status)
  • we will send you text messages to alert you about going over your arranged limit and being charged.

We may charge you a fee for going overdrawn by more than you've arranged, but if you sign up for text alerts we'll give you a chance to get back into your limit before we charge you (until 11:45pm on the day you go into an unarranged overdraft).

Monthly cap on unarranged overdraft charges (effective from 1 August 2017):

The monthly cap on unarranged overdraft charges for your 1st Account is £80.

1. Each current account will set a monthly maximum charge for:

(a) going overdrawn when you have not arranged an overdraft; or

(b) going over/past your arranged overdraft limit (if you have one).

2. This cap covers any:

(a) interest and fees for going over/past your arranged overdraft limit;

(b) fees for each payment your bank allows despite lack of funds; and

(c) fees for each payment your bank refuses due to lack of funds.

If your account is linked to an Offset Mortgage, interest on your arranged overdraft balance will be charged at your mortgage rate. Visit our charges page for more information about overdraft fees.

Benefits of a first direct overdraft

No overdraft interest charges on the first £250 of your arranged overdraft (subject to status)

You'll only be charged interest on any arranged balance if you're overdrawn by more than £250.

£10 buffer to help avoid unarranged overdraft fees

If you exceed your overdraft limit by £10 or less, you won't be charged a fee.

Text alerts to help avoid charges

Don't worry we won't use text speak - and definitely no emojis. If we have a mobile phone number for you, we'll send you text messages to help you avoid daily overdraft charges. We'll text you to let you know you've gone over your limit so you have time to pay cleared funds (not a cheque) into your account before the end of the day (11:45pm) to cover the unarranged overdraft amount.

Capped fees if you do go over your limit

We may charge an overdraft fee for using any unarranged overdraft capacity (exceeding our £10 buffer). However, we will never charge more than £80 in daily fees in a charging month. You can find out more on our overdraft fees page.

Representative example

0% EAR variable on the first £25015.9% EAR variable on anything above £250 (assumed arranged overdraft £1,200).

Overdrafts explained - FAQs

How to get an overdraft with us

New to first direct

You'll need to open a Current Account with us.

If you're over 18, a UK resident, haven't been declared bankrupt or registered for an Individual Voluntary Agreement in the last six years (or be in the process of doing so), and have a phone number and email address we can contact you with, we'd love to welcome you.

Existing Customers

Talk to us about reviewing your overdraft facility. Give us a call on 03 456 100 100.