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Overdraft

From 9th April until 8th July, the first £500 of your arranged overdraft will be interest free. If your arranged overdraft is lower than this, all of it will be interest free.

We’ll also temporarily charge 19.9% EAR (variable) for any overdraft over the £500; usually 39.9% EAR (variable).

An arranged overdraft is how much we have agreed, in writing, we can lend you – this amount can be found on your statement or on the app. We won’t automatically increase your existing overdraft limit, or add a new limit to your account if you haven’t got an arranged overdraft on your account.

An overdraft should be for short-term borrowing needs or a safety net for emergencies. Going over your limit for 30 days or more, could have a negative impact on your credit file. If you would like to change your arranged overdraft limit you will need to call us on 03 456 100 100. You can contact us between Mon and Sun 8am – 10pm.

If you do not want to change your overdraft limit, you don’t need to do anything, these temporary measures have automatically been activated.

What this means for you:

My situation	Interest rate	What do I need to do?
My situation1. I have an arranged overdraft up to £500.	Interest rateInterest free up to your arranged limit.	What do I need to do?You don’t need to do anything.
My situation2. I have an arranged overdraft of £501 or more.	Interest rateFirst £500 interest free. 19.9 EAR% (variable) for borrowing above £500.	What do I need to do?You don’t need to do anything.
My situation3. I want to increase my existing overdraft limit to £500 or less.	Interest rateInterest free up to your arranged limit.	What do I need to do?You can now apply for this. Applying for an overdraft will require a credit search and an assessment of your financial circumstances.
My situation4. I want to increase my existing overdraft limit to £501 or more.	Interest rateFirst £500 interest free. 19.9 EAR (Variable) for borrowing above £500.	What do I need to do?You can now apply for this. Applying for an overdraft will require a credit search and an assessment of your financial circumstances.
My situation5. I don't have an arranged overdraft but would like one.	Interest rateFirst £500 interest free. 19.9% EAR (Variable) for borrowing above £500.	What do I need to do?You can now apply for this. Applying for an overdraft will require a credit search and an assessment of your financial circumstances.

The terms and conditions on your 1st Account are not changing because of these temporary measures.

We’re keeping this under review so don’t worry, we’ll update customers before we make any changes to the temporary measures.

While the temporary measures are in place, the actual cost of borrowing may be lower than shown in the overdraft calculator, below. The calculator tells you how much borrowing will cost when the temporary measures are removed.

If you have an offset mortgage, the temporary measures do not apply to you.

For more information about the temporary measures, visit our frequently asked questions.

£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 39.9% EAR variable on anything above £250 (subject to status)
we'll send you text messages to alert you about going into your arranged overdraft or exceeding your arranged limit.

How much does my overdraft cost in pounds and pence?

Here are some examples of how much it would cost if you borrowed £500 of your overdraft:

Account	7 days	30 days	60 days
Account1st Account	7 days£1.63	30 days£7.00	60 days£13.99

1st Account linked to offset mortgage - Balance charged at your mortgage rate.

Representative example

0% EAR variable on the first £250. 39.9% EAR variable on anything above that, giving a representative rate of 30.5% APR variable (based on an assumed arranged overdraft £1,200).

The representative example shows you the rate of interest we’d charge for arranged overdrafts. For 1st Account, this example shows the cost of any interest above the interest free limit.

Overdraft overview

An overdraft can be used to borrow money on your current account and can help in months where there are unplanned events. Overdrafts are not suitable for long term borrowing and will typically result in you being charged interest.

An arranged overdraft is where we agree an overdraft limit with you. You can apply for an arranged overdraft up to £500 online, if you’d like a higher limit just give us a call when your 1st Account is open. We share information about how you use your account with credit reference agencies.

An unarranged overdraft is when you authorise a payment that would take your account overdrawn or beyond your arranged limit without agreeing in advance an overdraft to cover it. We’ll always consider an unarranged request and will make the payment if we can, subject to status. An unarranged overdraft may result in declined transactions. If you are in your unarranged overdraft for greater than 30 days this could have an impact on your credit file.

Use our Eligibility Checker and Cost Calculator (below) to find out more about our overdraft service before applying for or changing an arranged overdraft.

You have 14 days to cancel an overdraft agreement beginning on the day we provide the overdraft or on the day you have received our letter, whichever is later.

You can also ask us to reduce or remove your arranged overdraft limit at any time by calling us on 03 456 100 100. You’ll have to repay any overdrawn amount plus any interest for the period you’ve had it.

Overdraft Cost Calculator

All fields are mandatory

Select your account type

Interest free amount:

up to £

250

0% EAR variable

Overdraft interest rate:

39.9

% EAR variable

Maximum monthly charge for unarranged usage:

Total overdrawn required field

Arranged overdraft limit required field

Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.

Days using overdraft required field

days

maximum_fee_free_amount

250

max_charge_difference

Total cost

Cost breakdown

Interest free amount:

Amount Chargeable Overdraft

Arranged overdraft interest rate: 39.9% EAR variable

Unarranged overdraft interest rate: 39.9% EAR variable

helper_0

helper_cap

unarranged_capture

The calculation is based on the values you have input above

not for use

formulas

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{"id":"unarranged_less_arranged","unitAppendPrepend":"left","formula":"a\u003cb+1","formulaType":"logical","args":[{"id":"overdrawn_amount","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"requiredMsg":"Please enter the total overdrawn amount.","numericOnly":true,"regex":"^\\d{1,6}$","minValue":"0.01","maxValue":"6000","rangeFailedMsg":"Please enter an amount above £0","rangeFailedMsgMax":"Please enter an amount between £1 and £6000.","regexFailMsg":"Please only use numbers to enter your overdrawn amount","css":"p","alias":"a"},{"id":"arranged_od_limit","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n\r\n\r\n\r\n\r\n","value":"0","hidden":false,"help":"To find your current Arranged Overdraft Limit please check your account on your Mobile App, Online Banking or a recent statement.","isRequired":true,"requiredMsg":"Please enter the amount of your arranged overdraft limit","numericOnly":true,"regex":"^\\d{1,6}$","minValue":"0","maxValue":"5000","rangeFailedMsg":"Overdraft limits are set in £50 increments. Please enter a minimum limit of £50.","rangeFailedMsgMax":"Please enter an amount less than £5000","regexFailMsg":"Please only use numbers to enter your agreed overdraft limit","css":"p","round":"50","roundUpOrDown":"down","afterRoundup":"Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.","alias":"b"}],"output":"unarranged_overdraft_5_fee","thenFormula":"helper_0"}

{"id":"interest_free_limit","unitAppendPrepend":"left","formula":"a\u003c0.01","formulaType":"logical","args":[{"id":"unarranged_test","value":"0","hidden":true,"isRequired":false,"numericOnly":false,"css":"p","roundUpOrDown":"down","alias":"a"}],"output":"unarranged_overdraft_5_fee","thenFormula":"helper_0"}

{"id":"l_cap_to_80","unitAppendPrepend":"left","formula":"(a-b)\u003e20","formulaType":"logical","args":[{"id":"unarranged_test","value":"0","hidden":true,"isRequired":false,"numericOnly":false,"css":"p","roundUpOrDown":"down","alias":"a"},{"id":"arranged_overdraft_percent_fee","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n\r\n\r\n","value":"0","hidden":false,"isRequired":false,"numericOnly":false,"css":"table","alias":"b"}],"output":"unarranged_overdraft_5_fee","thenFormula":"helper_cap"}

{"id":"cap_limit","unitAppendPrepend":"left","formula":"a-b\u003e20","formulaType":"logical","args":[{"id":"unarranged_test","value":"0","hidden":true,"isRequired":false,"numericOnly":false,"css":"p","roundUpOrDown":"down","alias":"a"},{"id":"arranged_overdraft_percent_fee","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n\r\n\r\n","value":"0","hidden":false,"isRequired":false,"numericOnly":false,"css":"table","alias":"b"}],"output":"unarranged_overdraft_5_fee","thenFormula":"helper_cap"}

{"id":"f_total_charges","unitAppendPrepend":"left","formula":"floor(a+b)","formulaType":"arithmetical","args":[{"id":"arranged_overdraft_percent_fee","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n\r\n\r\n","value":"0","hidden":false,"isRequired":false,"numericOnly":false,"css":"table","alias":"a"},{"id":"unarranged_overdraft_5_fee","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n\r\n\r\n","value":"0","hidden":false,"isRequired":false,"numericOnly":false,"css":"table","alias":"b"}],"output":"total"}

{"id":"mirror_intrest_free_amount","unitAppendPrepend":"left","formula":"a","formulaType":"arithmetical","args":[{"id":"fee_free","prependText":"\u003cp\u003eup to £\u003c/p\u003e\r\n\r\n\r\n","appendText":"\u003cp\u003e 0% EAR variable\u003cbr /\u003e\r\n\u003c/p\u003e\r\n\r\n\r\n\r\n\r\n","value":"250","hidden":false,"help":"The calculator is set to accommodate the fact that the first £250 of the 1st Account arranged overdraft is interest free - (0% EAR variable).","isRequired":false,"numericOnly":false,"css":"p","alias":"a"}],"output":"arranged_interest_free_amount"}

Enter your Offset mortgage rate % required field

Your arranged overdraft rate is:

%

Maximum monthly charge for unarranged usage:

Total overdrawn required field

Arranged overdraft limit required field

Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.

Days using overdraft required field

days

Total cost

Cost breakdown

Amount chargable under arranged overdraft interest rate

Arranged overdraft interest

helper_zero

helper_cap

mortgage rate divided

Arranged Overdraft Charge

arranged_od_5_fee

Unarranged overdraft interest

The calculation is based on the values you have input above.

mnot for use

formulas

{"id":"m_mortgage_rate_percent","unitAppendPrepend":"left","formula":"a/100","formulaType":"arithmetical","args":[{"id":"m_mortgage_rate","appendText":"\u003cp\u003e%\u003c/p\u003e\r\n","value":"0","hidden":false,"help":"To find your mortgage interest rate, you\u0027ll need to check your most recent mortgage communication from us, either an annual mortgage statement, or a letter letting you know about a rate change.","isRequired":true,"requiredMsg":"Please enter your offset mortgage rate (%)","numericOnly":true,"regex":"^\\d*\\.?\\d{1,2}$","minValue":"0.01","maxValue":"20","rangeFailedMsg":"Please enter your offset mortgage rate (%)","rangeFailedMsgMax":"Please enter your offset mortgage rate (%)","regexFailMsg":"Please only use numbers and a decimal point to enter your offset mortgage rate","css":"p","alias":"a"}],"output":"m_mtg_rate_div"}

{"id":"m_is_charged_arranged_fee","unitAppendPrepend":"left","formula":"a\u003eb","formulaType":"logical","args":[{"id":"m_overdrawn_amount","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"001","maxValue":"6000","rangeFailedMsg":"Please enter an amount above £0","rangeFailedMsgMax":"Please enter an amount between £1 and £6000.","regexFailMsg":"Please only use numbers to enter your overdrawn amount","css":"p","alias":"a"},{"id":"m_arrange_od_limit","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"help":"To find your current Arranged Overdraft Limit please check your account on your Mobile App, Online Banking or a recent statement.","isRequired":true,"requiredMsg":"Please enter the amount of your arranged overdraft limit","numericOnly":true,"regex":"^\\d{1,6}$","minValue":"0","maxValue":"5000","rangeFailedMsg":"Overdraft limits are set in £50 increments. Please enter a minimum limit of £50.","rangeFailedMsgMax":"Please enter an amount less than £5000","regexFailMsg":"Please only use numbers to enter your agreed overdraft limit","css":"p","round":"50","roundUpOrDown":"down","afterRoundup":"Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.","alias":"b"}],"output":"m_amount_chargable_under_arranged_od_interest_rate","thenFormula":"m_arrange_od_limit","elseFormula":"m_overdrawn_amount"}

{"id":"f_m_interest_on_arranged_od","unitAppendPrepend":"left","formula":"floor(a*c/365*b)","formulaType":"arithmetical","args":[{"id":"m_amount_chargable_under_arranged_od_interest_rate","value":"0","hidden":true,"isRequired":false,"numericOnly":false,"css":"p","alias":"a"},{"id":"m_days_overdrawn","appendText":"\u003cp\u003edays\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"1","maxValue":"31","rangeFailedMsg":"Please enter an amount of days between 1 and 31","rangeFailedMsgMax":"We can calculate the cost of your overdraft for a maximum of 31 days. ","regexFailMsg":"Please only use numbers to enter the number of days you\u0027ll be overdrawn by this amount","css":"p","alias":"b"},{"id":"m_mtg_rate_div","value":"0","hidden":true,"isRequired":false,"numericOnly":false,"css":"p","alias":"c"}],"output":"m_arranged_overdraft_percent_fee"}

{"id":"m_5_daily_charge","unitAppendPrepend":"left","formula":"a\u003eb","formulaType":"logical","args":[{"id":"m_overdrawn_amount","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"001","maxValue":"6000","rangeFailedMsg":"Please enter an amount above £0","rangeFailedMsgMax":"Please enter an amount between £1 and £6000.","regexFailMsg":"Please only use numbers to enter your overdrawn amount","css":"p","alias":"a"},{"id":"m_arrange_od_limit","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"help":"To find your current Arranged Overdraft Limit please check your account on your Mobile App, Online Banking or a recent statement.","isRequired":true,"requiredMsg":"Please enter the amount of your arranged overdraft limit","numericOnly":true,"regex":"^\\d{1,6}$","minValue":"0","maxValue":"5000","rangeFailedMsg":"Overdraft limits are set in £50 increments. Please enter a minimum limit of £50.","rangeFailedMsgMax":"Please enter an amount less than £5000","regexFailMsg":"Please only use numbers to enter your agreed overdraft limit","css":"p","round":"50","roundUpOrDown":"down","afterRoundup":"Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.","alias":"b"}],"output":"m_unarranged_od_chargeable","thenFormula":"f_m_overlimit_penatly_charge","elseFormula":"m_helper_zero"}

{"id":"m_overdraft_fee_switch","unitAppendPrepend":"left","formula":"a-b\u003cc*d","formulaType":"logical","args":[{"id":"m_overdrawn_amount","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"001","maxValue":"6000","rangeFailedMsg":"Please enter an amount above £0","rangeFailedMsgMax":"Please enter an amount between £1 and £6000.","regexFailMsg":"Please only use numbers to enter your overdrawn amount","css":"p","alias":"a"},{"id":"m_arrange_od_limit","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"help":"To find your current Arranged Overdraft Limit please check your account on your Mobile App, Online Banking or a recent statement.","isRequired":true,"requiredMsg":"Please enter the amount of your arranged overdraft limit","numericOnly":true,"regex":"^\\d{1,6}$","minValue":"0","maxValue":"5000","rangeFailedMsg":"Overdraft limits are set in £50 increments. Please enter a minimum limit of £50.","rangeFailedMsgMax":"Please enter an amount less than £5000","regexFailMsg":"Please only use numbers to enter your agreed overdraft limit","css":"p","round":"50","roundUpOrDown":"down","afterRoundup":"Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.","alias":"b"},{"id":"m_unarranged_od_charge1","value":"5","hidden":true,"isRequired":false,"numericOnly":false,"css":"p","alias":"c"},{"id":"m_days_overdrawn","appendText":"\u003cp\u003edays\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"1","maxValue":"31","rangeFailedMsg":"Please enter an amount of days between 1 and 31","rangeFailedMsgMax":"We can calculate the cost of your overdraft for a maximum of 31 days. ","regexFailMsg":"Please only use numbers to enter the number of days you\u0027ll be overdrawn by this amount","css":"p","alias":"d"}],"thenFormula":"m_overdraft_difference","elseFormula":"f_m_overlimit_penatly_charge"}

{"id":"m_overdraft_difference","unitAppendPrepend":"left","formula":"a-b","formulaType":"arithmetical","args":[{"id":"m_overdrawn_amount","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"001","maxValue":"6000","rangeFailedMsg":"Please enter an amount above £0","rangeFailedMsgMax":"Please enter an amount between £1 and £6000.","regexFailMsg":"Please only use numbers to enter your overdrawn amount","css":"p","alias":"a"},{"id":"m_arrange_od_limit","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"help":"To find your current Arranged Overdraft Limit please check your account on your Mobile App, Online Banking or a recent statement.","isRequired":true,"requiredMsg":"Please enter the amount of your arranged overdraft limit","numericOnly":true,"regex":"^\\d{1,6}$","minValue":"0","maxValue":"5000","rangeFailedMsg":"Overdraft limits are set in £50 increments. Please enter a minimum limit of £50.","rangeFailedMsgMax":"Please enter an amount less than £5000","regexFailMsg":"Please only use numbers to enter your agreed overdraft limit","css":"p","round":"50","roundUpOrDown":"down","afterRoundup":"Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.","alias":"b"}],"output":"m_unarranged_od_chargeable"}

{"id":"f_m_overlimit_penatly_charge","unitAppendPrepend":"left","formula":"floor(a*c/365*(b-d))","formulaType":"arithmetical","args":[{"id":"m_days_overdrawn","appendText":"\u003cp\u003edays\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"1","maxValue":"31","rangeFailedMsg":"Please enter an amount of days between 1 and 31","rangeFailedMsgMax":"We can calculate the cost of your overdraft for a maximum of 31 days. ","regexFailMsg":"Please only use numbers to enter the number of days you\u0027ll be overdrawn by this amount","css":"p","alias":"a"},{"id":"m_overdrawn_amount","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"001","maxValue":"6000","rangeFailedMsg":"Please enter an amount above £0","rangeFailedMsgMax":"Please enter an amount between £1 and £6000.","regexFailMsg":"Please only use numbers to enter your overdrawn amount","css":"p","alias":"b"},{"id":"m_mtg_rate_div","value":"0","hidden":true,"isRequired":false,"numericOnly":false,"css":"p","alias":"c"},{"id":"m_arrange_od_limit","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"help":"To find your current Arranged Overdraft Limit please check your account on your Mobile App, Online Banking or a recent statement.","isRequired":true,"requiredMsg":"Please enter the amount of your arranged overdraft limit","numericOnly":true,"regex":"^\\d{1,6}$","minValue":"0","maxValue":"5000","rangeFailedMsg":"Overdraft limits are set in £50 increments. Please enter a minimum limit of £50.","rangeFailedMsgMax":"Please enter an amount less than £5000","regexFailMsg":"Please only use numbers to enter your agreed overdraft limit","css":"p","round":"50","roundUpOrDown":"down","afterRoundup":"Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.","alias":"d"}],"output":"m_unarranged_od_chargeable"}

{"id":"l_arranged_od_is_not_minus","unitAppendPrepend":"left","formula":"a\u003eb","formulaType":"logical","args":[{"id":"m_overdrawn_amount","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"001","maxValue":"6000","rangeFailedMsg":"Please enter an amount above £0","rangeFailedMsgMax":"Please enter an amount between £1 and £6000.","regexFailMsg":"Please only use numbers to enter your overdrawn amount","css":"p","alias":"a"},{"id":"m_arrange_od_limit","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"help":"To find your current Arranged Overdraft Limit please check your account on your Mobile App, Online Banking or a recent statement.","isRequired":true,"requiredMsg":"Please enter the amount of your arranged overdraft limit","numericOnly":true,"regex":"^\\d{1,6}$","minValue":"0","maxValue":"5000","rangeFailedMsg":"Overdraft limits are set in £50 increments. Please enter a minimum limit of £50.","rangeFailedMsgMax":"Please enter an amount less than £5000","regexFailMsg":"Please only use numbers to enter your agreed overdraft limit","css":"p","round":"50","roundUpOrDown":"down","afterRoundup":"Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.","alias":"b"}],"output":"m_amount_chargable_under_arranged_od_interest_rate","thenFormula":"m_arrange_od_limit","elseFormula":"m_overdrawn_amount"}

{"id":"m_isTotal_od_over_arrangedd_amount_2","unitAppendPrepend":"left","formula":"a\u003eb","formulaType":"logical","args":[{"id":"m_overdrawn_amount","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"isRequired":true,"numericOnly":true,"regex":"^\\d{1,6}$","minValue":"001","maxValue":"6000","rangeFailedMsg":"Please enter an amount above £0","rangeFailedMsgMax":"Please enter an amount between £1 and £6000.","regexFailMsg":"Please only use numbers to enter your overdrawn amount","css":"p","alias":"a"},{"id":"m_arrange_od_limit","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n","value":"0","hidden":false,"help":"To find your current Arranged Overdraft Limit please check your account on your Mobile App, Online Banking or a recent statement.","isRequired":true,"requiredMsg":"Please enter the amount of your arranged overdraft limit","numericOnly":true,"regex":"^\\d{1,6}$","minValue":"0","maxValue":"5000","rangeFailedMsg":"Overdraft limits are set in £50 increments. Please enter a minimum limit of £50.","rangeFailedMsgMax":"Please enter an amount less than £5000","regexFailMsg":"Please only use numbers to enter your agreed overdraft limit","css":"p","round":"50","roundUpOrDown":"down","afterRoundup":"Overdraft limits are set in £50 increments. The calculator has rounded down the amount you entered to the nearest £50.","alias":"b"}],"output":"m_unarranged_od_chargeable","elseFormula":"m_helper_zero"}

{"id":"l_m_cap_to_80","unitAppendPrepend":"left","formula":"a\u003e20","formulaType":"logical","args":[{"id":"m_unarranged_od_chargeable","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n\r\n\r\n","value":"0","hidden":false,"isRequired":false,"numericOnly":false,"css":"table","alias":"a"}],"output":"m_unarranged_od_chargeable","thenFormula":"m_helper_cap"}

{"id":"usage_fee_not_negative","unitAppendPrepend":"left","formula":"a\u003e0","formulaType":"logical","args":[{"id":"m_unarranged_od_chargeable","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n\r\n\r\n","value":"0","hidden":false,"isRequired":false,"numericOnly":false,"css":"table","alias":"a"}],"output":"m_unarranged_od_chargeable","elseFormula":"m_helper_zero"}

{"id":"f_m_total_charges","unitAppendPrepend":"left","formula":"floor(a+b)","formulaType":"arithmetical","args":[{"id":"m_arranged_overdraft_percent_fee","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n\r\n\r\n","value":"0","hidden":false,"isRequired":false,"numericOnly":false,"css":"table","alias":"a"},{"id":"m_unarranged_od_chargeable","prependText":"\u003cp\u003e£\u003c/p\u003e\r\n\r\n\r\n","value":"0","hidden":false,"isRequired":false,"numericOnly":false,"css":"table","alias":"b"}],"output":"m_total_cost"}

{"id":"f_amount_chargeable_under_arragement_2","unitAppendPrepend":"left","formula":"a-b","formulaType":"arithmetical","args":[]}

The figures in this tool are to give you a good indication, any overdraft limit you require will need to be agreed with us.

Our calculator uses a few assumptions to calculate the results. You can see these in detail at the bottom of the page.

Because an overdraft is for short term borrowing there could be other, cheaper options. You can call us on 03 456 100 100 if you'd like more information.

Overdraft Eligibility Tool

You can use our Eligibility Checker to get an indication of whether or not you'll be accepted for an overdraft.

Capped fees if you do go over your limit

We may charge overdraft interest for using any unarranged overdraft capacity. However, we will never charge more than £20 in unarranged overdraft interest in a charging month. You can find out more on our overdraft fees page.

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). Unless you opt out, if we hold a valid UK mobile number for you, we'll send you a text message to alert you if you go into your unarranged overdraft

The monthly cap on unarranged overdraft charges for your 1st Account is £20.

Monthly cap on unarranged overdraft charges

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

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

No overdraft interest 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.

Text alerts to help avoid charges

Don’t worry we won’t use text speak – and definitely no emoji's.

On 17 November 2019 we introduced new arranged overdraft text alerts. If you haven’t opted out of these alerts and we hold a UK mobile number for you, we’ll text to let you know if you’re using or are about to use your overdraft. We’ll also let you know the following day if you’ll be charged overdraft interest.

In addition, we also send you text alerts if your account balance goes over its arranged overdraft limit (an ‘unarranged’ overdraft).

The text alerts are sent to give you time to pay money (not a cheque) into your account before the end of the day - by 11.45pm. : If you do this you will avoid having to pay overdraft interest.

You can choose to opt out of receiving these alerts at any time by sending a secure message via Online Banking or calling us on 03 456 100 100.

Overdrafts explained - FAQs

What types of overdraft are there?

Arranged overdrafts are, as the name suggests, pre-arranged and allow you to go overdrawn up to an agreed limit. You can ask us to increase this by calling
03 456 100 100 and if we decide that's okay, you can make any payments or withdrawals from your account up to the new agreed level.

Unarranged overdrafts are not pre-arranged so if you authorise a payment that would take your account overdrawn (if you don't have an overdraft, or you go over your arranged limit), we'll treat this as a new unarranged overdraft request. If we agree to it, you'll need to repay your unarranged overdraft within 30 days. If your request is declined we'll always try to contact you before this happens, so it's important you keep your contact details up to date.

Overdraft as a safety net

It comes down to personal preference. It's easy to misunderstand the role of an overdraft: it's not just a spending limit, or extra cash. If you find you're often in your overdraft, it may be worth giving us a call to see if we can suggest a better or cheaper option.

An overdraft is a safety net that should only be used short term or as an emergency fund. It's one of those banking features that provides a little peace of mind. It's a service that's got your back. But if you find yourself dipping in and out of it too often, then perhaps re-think your plans.

What is an overdraft, anyway?

Not sure what bank account overdrafts actually are? You're not the only one out there looking for a clear overdraft definition...

An overdraft is a short-term way to borrow money, providing a buffer if your current account is running on empty and you need quick access to additional funds to get by.

There are two types of overdrafts; arranged and unarranged. You don't have to ask us if you want to use your arranged overdraft - once agreed, it automatically kicks in when your account is empty, perhaps at the end of the month just before payday.

It's important to remember that when you go into your overdraft,you might be charged overdraft interest. It's best to think of it as a short term solution.

Are there any overdraft fees or interest

You can arrange an overdraft on your account, subject to your credit status and personal circumstances. The first £250 of the 1st Account arranged overdraft is interest free - 0% EAR variable. 39.9% EAR variable on anything above £250 (assumed overdraft £1,200). Interest is calculated daily and will usually come out of your account once a month. We'll give you at least 14 days' notice before any overdraft interest or charges come out of your account.

The monthly cap on unarranged overdraft charges for your 1st Account is £20. Find out more here.

We won’t charge Overdraft interest if covering funds are paid in before the end of the day (defined as 11:45pm).

We won't charge you more in unarranged overdraft interest than the maximum unarranged overdraft agreed in that charging month (e.g. the cost of a £15 unarranged overdraft will be limited to £15).

Can I request a bigger overdraft?

Yes. You can officially apply for an extension to your arranged overdraft before you go over your limit (subject to status) by calling us on 03 456 100 100. We review this limit regularly. If you're not sure what your limit actually is, you can check it by logging onto Online Banking, calling us on 03 456 100 100, or referring to your most recent facility letter.

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.

The results of the calculator use these assumptions:

The amount borrowed is taken in full at noon on the date of the calculation.
The number of days overdrawn is a continuous period.
At the time you take the money the balance of your current account is £0.
No other credits or debits will be added to the account during the period.
The outstanding balance will be repaid in full on the last day of the borrowing period, before 11.45pm.
The interest rate used for the calculation will be the same for the whole period. If there happens to be a planned rate change during the period you specified the calculation will reflect that.
The calculator doesn’t take into account interest you may have already incurred since your last statement.
There won’t be any changes to your overdraft limit during the calculation period.