Overdraft Service: agree a formal overdraft | HSBC UK

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Be prepared for life's unexpected costs

Agreeing an arranged overdraft is fee free and keeping within your limit is a cost-effective way to manage your account.

Are you eligible for our Overdraft Service? Check the full details

Overdraft Service
  • Agree your overdraft limit in advance Give yourself the flexibility to cope with unexpected expenses by requesting an adequate arranged overdraft limit.
  • Overdraft charges For details of the charges that may be applicable, please click here to see examples.
  • Be confident – even in expensive monthsIf your request for an overdraft is approved, you'll know that when you keep within your limit all your payments will be made and no overdraft fees will apply. Your only cost will be the interest you pay.
  • No overdraft fees if you stick to your agreed limitProvided you keep within your limit the only cost to you will be the overdraft interest you pay.

Monthly cap on unarranged overdraft charges (effective from 1 August 2017)

  1. Each current account will set a monthly maximum charge for:
    • going overdrawn when you have not arranged an overdraft; or
    • going over/past your arranged overdraft limit (if you have one).
  2. This cap covers any:
    • interest and fees for going over/past your arranged overdraft limit;
    • fees for each payment your bank allows despite lack of funds; and
    • fees for each payment your bank refuses due to lack of funds.

The introduction of the Monthly Maximum Charge will not affect any charging period that ended prior to 1st August 2017. Any notification of charges that are generated on or after 1st August 2017 will incorporate the new Monthly Maximum Charge cap.

Further details, including the level of the monthly cap applicable to each account, can be found online at www.hsbc.co.uk/1/2/overdrafts/details.

Type of account:

Please select the type of current account you hold.

Overdraft amount:

Please enter an amount from £0 to £2,000.

£


From 0 days to 31 days, whenever your account is overdrawn you should make regular payments into your account.



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This calculator gives you an indication of how much interest you'll pay if you use your overdraft. Additional charges may apply if we agree an unarranged overdraft on your account i.e. an overdraft which is above your arranged limit. If you think you need to borrow above your arranged overdraft limit then it will be cheaper for you to see if we can increase your arranged limit. You can request an increase via online banking, by calling us on 03457 404 404 or visit us in branch and we can talk to you about ways we can help. For full details on overdraft costs, including any charges, please see our Personal Banking Terms and Conditions and Charges (PDF), Notice of Variation to Personal Banking Terms and Conditions and Charges and Banking made easy with effect from 13 January 2018 (PDF) and the Monthly maximum charge (this explains the monthly maximum charge if you go into unarranged overdraft. Effective from 1 August 2017)

The Overdraft Service is designed for short term finance between when you run out of funds in your current account until the next credit comes in. We expect typical overdraft usage to be for a relatively small amount for a few days. Often it may be one transaction that takes you overdrawn and the balance remains the same until a credit comes in. If you want to look at a scenario where there is further spend, you could do additional calculations and add the amounts together.

Overdraft rate

Representative example (assumed overdraft £1,200): 19.9% EAR variable

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