Choose the type of current account you have to see the arranged and unarranged overdraft fees, interest charged, reserve limits and caps.

  • If you remain in credit, you won’t be charged any fees
  • With an arranged overdraft:
    • up to £250 – no fees
    • over £250 – 50p each day for every day you are over £250 overdrawn
  • With an unarranged overdraft:
    • buffer – if less than £10 over your overdraft, no unarranged usage fee
    • over £10 - £5 each day for every day you use an unarranged overdraft
  • Reserve limit
    • if payments are returned unpaid there are no unpaid transaction fees
    • cap on unarranged usage fees - £50 maximum fee each month.

FlexPlus Overdraft Representative Example:

If you use an arranged overdraft of £1,200 the amount we will charge you is 50p per day (variable).

FlexPlus rates, fees and overdraft

  • If you remain in credit, you won’t be charged any fees
  • With an arranged overdraft:
    • up to £10 – no fees
    • over £10 – 50p each day for every day you are over £10 overdrawn
  • With an unarranged overdraft:
    • buffer – if less than £10 over your overdraft, no unarranged usage fee
    • over £10 - £5 each day for every day you use an unarranged overdraft, and a paid transaction fee of £5 for every payment that you make above your overdraft (if you go over your overdraft but rebalance before 6pm the same say, you’re not charged)
  • Reserve limit
    • If payments are returned unpaid - an unpaid transaction fee of £5 for every payment we decide not to pay over and above your reserve limit. Paid and unpaid transaction fees are capped at £15 a calendar month.
    • cap on unarranged usage fees - daily unarranged overdraft usage fees are capped at £35 per calendar month.

FlexDirect Overdraft Representative Example:

If you use an arranged overdraft of £1,200 the amount we will charge you is 50p per day (variable).

FlexDirect rates, fees and overdraft

  • If you remain in credit, you won’t be charged any fees
  • With an arranged overdraft: you’re charged interest at 18.90% EAR (variable) when your balance drops below £0 and you’re within your arranged overdraft limit
  • With an unarranged overdraft:
    • buffer - less than £15, no paid transaction fees (but you still pay interest)
    • over £15 – you’re charged interest at 18.90% EAR (variable), and an unpaid transaction fee of £5.
  • Reserve limit
    • If payments are returned unpaid - an unpaid transaction fee of £5 for every payment NOT made over and above your reserve limit
    • cap on unarranged usage fees - £50 a month (of which £45 is paid and unpaid transaction fees and £5 unarranged overdraft interest at 18.9% EAR).

FlexAccount Overdraft Representative Example:

If you use an arranged overdraft of £1,200 the interest rate we will charge you is 18.9% EAR (variable).

FlexAccount rates, fees and overdraft

An overdraft is only available on this account if you’re over 18 years old.

  • If you remain in credit, you won’t be charged any fees
  • With an arranged overdraft you won’t be charged any fees
  • With an unarranged overdraft: if a very small number of transactions may take your account below your arranged limit and into an unarranged overdraft, we won’t charge you anything and we work with you to put your account right
  • Reserve limit
    • payments returned unpaid – no fees
    • cap on unarranged usage fees – no fees

FlexOne Overdraft Representative example:

If you use an arranged overdraft of £1,200 the amount we will charge you is 0p per day (variable).

  • If you remain in credit, you won’t be charged any fees
  • The account is designed to prevent you from going over your agreed overdraft limit. However, in the unlikely event that you do go over your agreed limit, we still won’t charge you. You’ll simply need to bring the balance back within your agreed limit before you can carry on using your account. If you don't bring it back, you'll be unable to take cash out, and will be unable to use your card to purchase items (both in store, online and via the telephone).
  • When your course comes to an end, we’ll move your FlexStudent to our FlexGraduate account. Your overdraft remains interest-free and fee-free and reduces in steps after you graduate (up to 3 years, dependent on course length) to help you stay in control of your finances.
  • Reserve limit
    • payments returned unpaid – no fees
    • cap on unarranged usage fees – no fees

FlexStudent Overdraft Representative Example

If you use an arranged overdraft of £1,200 the amount we will charge you is 0p per day (variable).

Glossary

Arranged overdraft - a formally agreed limit before you use it.

Buffer - a small additional amount over and above your arranged overdraft limit, to allow for transactions to be made without taking you into an unarranged overdraft.

Cap - the maximum amount of charges you can incur in a calendar or statement month.

EAR - Equivalent Annual Rate is the cost of an overdraft stated as a yearly rate, taking into account the compounding of interest. You can use it to compare rates offered by different providers. We work out interest each day on any overdrawn amount and take it from your account monthly, giving you 28 days’ notice of the amount. Any interest charged is added to the balance outstanding.

Paid transaction - if a transaction is attempted that takes you over your arranged overdraft limit, but is within your reserve limit, it’s paid (which means you use an unarranged overdraft).

Reserve limit - the amount up to which we’re prepared to pay transactions above your agreed overdraft limit. It provides you with more flexibility when managing your money. Beyond this point transactions are returned unpaid. Payments above the arranged overdraft limit incur the relevant unarranged overdraft usage fees.

Unarranged overdraft - where you borrow over an agreed limit, up to any reserve limit we set on your account.

Unpaid transaction - if a transaction is attempted that takes you over your reserve limit, (even if your account is in credit at the time the transaction is attempted), it is returned unpaid (bounced).

Related articles

Contact us

Contact us

Visit us in branch

If you need to speak to a member of staff, pop into any branch. Use our branch finder to find your nearest location.

Contact us

Give us a call

You can get in touch with us over the phone. We’ve made it easy to find the best number to call.

Call us