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Changes to your Everyday Current Account

From 9 January 2017, the Arranged Overdraft Usage Fee changed to reflect the amount of Arranged Overdraft you use.

This means, if you use an overdraft of £2,000 or more, you will pay more in fees. If you use an overdraft of less than £2,000, the fee will remain the same. As before, no overdraft fees will apply when you use an Arranged Overdraft of £12 or less.

This means, from your first statement period on or after 9 January 2017 and you will see the new fees reflected on statements you receive on or after 9 February 2017.

Arranged Overdraft used Previous fee New fee from 9 January 17
Below £2,000  £1 a day  £1 a day
 £2,000 to £2,999.99  £1 a day  £2 a day
 £3,000 and over  £1 a day  £3 a day

Why is the Arranged Overdraft Usage Fee changing?
We've reviewed our current accounts and needed to make a change to your Everyday Current Account. This change is due to the market expectation that interest rates will stay lower for longer, compounded by increased costs brought about by changes in the banking industry.

Representative example
0% EAR (variable) Arranged Overdraft. Arranged Overdraft Usage Fee of £1 per day. If you are switching to Santander then there will be no Arranged Overdraft Usage Fee for the first 4 months. Assumed Arranged Overdraft credit limit: £1,200. Actual amount and fee may differ depending on the amount of overdraft you are using.


Nothing is changing immediately, giving you time to decide if the Everyday Current Account is still right for you.

Helping you manage your overdraft
If you have an overdraft and don’t want to pay the higher fees, you will need to reduce your overdraft usage to below £2,000.

We do offer current accounts with lower or no overdraft fees. Please refer to our current account range for further information about our product range

We also offer a range of services and tools to help you manage your account and prevent or minimise overdraft fees. This includes Online and Mobile Banking and free account alerts, such as an alert to remind you when your account balance is below a set amount, or when you're approaching your Arranged Overdraft limit. You can set up account alerts by logging onto Online Banking.

If you've decided your Everyday Current Account is still right for you and you are happy to keep it then you don't need to do anything.

Your options
It is important to remember that different current accounts have different overdraft fees and charges. There are also alternative forms of borrowing available, such as loans and credit cards, which could provide cheaper alternatives depending on your personal circumstances.

If you'd like to transfer to another one of our current accounts, please visit your local branch or call us on the number below. You can also close your account at any time without charge.

Questions about these changes?
If you have any questions about these changes, please visit your local branch or call us on 0800 9 123 123 (Lines are open 7am to 9pm Monday to Saturday, and 8am to 9pm on Sundays).

Frequently asked questions

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