Good to know

Here are some important details about the daily overdraft fee and the alerts we’ll send you. Please make sure you’re aware of what happens in practice.

You won't run up more than the maximum fees your overdraft allows.

You’ll only pay fees on what you borrow from your overdraft, up to your planned overdraft limit. If a payment takes you over your limit or we stop it, you won’t be charged anything more than the daily overdraft fee for your planned overdraft limit.

What happens if you go over your overdraft limit.

If you don’t have enough money in your account or you reach your limit, you may not be able to make any more payments.
This means your mortgage or rent; loan and credit card repayments and utility bills may not be paid if you don’t have enough funds available in your account.

We may not be able to stop every payment such as some debit card and contactless payments but you won’t be charged anything more than the daily overdraft fee for your planned overdraft borrowing. We no longer charge a Returned Item Fee but some suppliers may charge you fees for missing those payments.

If we hold a mobile phone number for you, we’ll send you alerts to help keep on top of your balance.

We’ll show any daily overdraft fees in your statement.

You can check for yourself at any time with the mobile app, online, at a Cashpoint® or other ATM by getting a mini statement. The fee will be shown as the last item charged to your account, at the end of every day that you use your overdraft. The statement description will say what date each fee relates to. We’ll only charge a daily overdraft fee if your account is overdrawn at the end of the day.

For a short time you may pay both daily and monthly overdraft fees.

If you use your overdraft before 2 November, you may still have some monthly fees to pay. From 2 November, you’ll pay the new daily overdraft fee as well. So for up to two months you may see both types of fees on your statement.

You may have time to avoid fees or stopped payments.

Your payments will go through as usual if you have enough funds available in your account before 2.30pm (UK time) on the day they are due to go out. This may give you time to transfer money from one of your other Bank of Scotland accounts, or to pay in cleared funds from another bank. You also have until the end of every day to cover your overdraft balance in the same way and avoid a daily overdraft fee.

We will send you mobile alerts to tell you if you're going to pay fees.

If we have a mobile number for you, we'll send alerts to your mobile phone when you start to use your overdraft, and when your balance is getting close to your overdraft limit. We’ll also send an alert if there’s not enough in your account to make a payment. So, you'll know when you are about to be charged fees, or when a payment may be stopped. This may give you time to put some money into your account.

You must provide us with your current mobile number to get these mobile alerts.

You need to make sure we have a mobile number for you, so that we can send the alerts.

You can check if we have - or update your details through Internet Banking, in a branch, or by calling us on 0345 721 3141. You can opt out of mobile alerts if you prefer, but you won’t then get alerts about your overdraft.

We’re removing charges for accounts with Control.

You may have had Control with some types of account. It helped you stay within your overdraft limit. All our accounts will have features similar to Control, so we’re removing the £10 monthly fee.

If you’ve made a plan with us to repay your overdraft, this will stay the same.

Your account won’t be affected by the new fee if our Collections team is working with you on paying back your overdraft. If we've agreed a plan between us, just keep up your payments as normal.

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Overdraft fee calculator

Work out what your new overdraft fees could be with our overdraft fee calculator

Manage your overdraft now

If you use internet or mobile banking you can apply for a new overdraft, apply to increase, reduce or cancel your overdraft whenever you need to with an instant online decision. You can also manage your overdraft over the phone or in branch.

Please note all overdrafts are subject to our assessment of your circumstance and are repayable in full on demand. You must be aged 18 or over to apply.

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