Overdrafts are available for clients wishing to borrow money on a flexible basis, typically over the short-term.

We offer unsecured overdrafts for borrowing smaller sums. For larger sums, security is required most typically against property. Overdrafts are not generally suitable for longer-term borrowing and all arrangements are reviewed on an annual basis to ensure that they are still appropriate.

This is a borrowing limit on a current account agreed in advance with a banker, so it is available when needed. An arrangement fee for the setup of the overdraft will be agreed in advance and overdraft interest is due on the amount borrowed. The overdraft is repayable on demand, which means you could be asked to repay the outstanding balance at any time, although we will normally give advance notice.

This is borrowing which has not been agreed in advance. If a payment is requested and there is no money left in the account, or an Arranged Overdraft limit is exceeded, we may refuse to make the payment. An ‘Unpaid Item Fee’ may be charged.

An overdraft may affect your credit record. Clients can request the reduction or removal of an overdraft limit at any time by contacting their banker.