Our overdrafts are changing

On 11 November, we’re moving to a single arranged overdraft rate for all three accounts. The move is a part of wider changes to these accounts and our drive to simplify overdrafts. Find out what the changes mean for you.

What is the Monthly Maximum Charge?

Put simply, the Monthly Maximum Charge (MMC) is the most you’ll pay each month in fees, charges and interest for any unarranged borrowing on our FlexAccount, FlexPlus and FlexDirect accounts. The MMC is capped at £50, and only applies to unarranged fees, charges and interest – not to any arranged overdraft fees, charges or interest.

Monthly cap on unarranged overdraft charges

  1. Each current account has a 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.

How do I know if I've been charged any fees?

If you’re charged for going overdrawn, this will be on your statement in the Notice of Charges section. We’ll let you know by email when your statement is ready to view online if you’ve chosen to go paperless, and tell you in that email if there are any fees, charges and interest.

Other ways to keep an eye on your fees, charges and interest

Need more information?

For more details on our current account overdraft fees, charges and interest, see our Understanding Overdrafts and Interest Rates and Charges leaflets.

Helpful links

Check the overdraft fees on your account
Compare our current accounts
Switch your current account to Nationwide
Check our overdraft calculator to see how much it costs you to borrow in your arranged overdraft


The MMC covers all unarranged overdraft fees, charges and interest. Depending on which account you have, these include:

  • Interest on unarranged overdraft balances
  • Daily fees on unarranged overdraft balances
  • Paid Transaction Fees – when a transaction is paid by us on your behalf leaving your balance in an unarranged overdrawn situation
  • Unpaid Transaction Fees – when a transaction is refused by us owing to insufficient available funds

Take a look at the Understanding Overdrafts leaflet to see the fees and charges applicable to your current account. If you still think things aren't right, get in touch with us as soon as possible.

To change your arranged overdraft limit: