Add some 'wriggle room'

to your current account

After you graduate and get a job, your current account might feel like it’s under attack, what with rent, groceries, transport and so on. Our Graduate Overdraft is here to help. It could give you a safety net until your salary is paid into your account.

Things to remember

Our Graduate Overdraft is a form of debt and is repayable on demand. Always make sure you have enough money in your current account, or a suitable Graduate Overdraft limit in place before any payments are due to come out of your account.

If you go into Unarranged Overdraft, we’ll charge you an Unarranged Overdraft usage fee of £8. (The maximum we’ll charge you in a monthly charging period is £72.)

Unpaid Transaction Fee

If you're in an Unarranged Overdraft and you try to withdraw more funds, you'll also be charged an Unpaid Transaction fee of £2.75. (The maximum we’ll charge you in a monthly charging period is £2.75.)

Between 27th and 31st March, we will:

Remove the £6 Arranged Overdraft Usage Fee;

Remove interest free buffers on arranged and unarranged overdrafts;

Increase arranged overdraft interest rates;

Remove the £8 Unarranged Overdraft Usage Fee; and

Introduce unarranged overdraft interest.

The changes vary depending on the account you have with us. You can find out more by visiting our overdraft pricing changes hub.

Things to remember

Full details of these changes and other changes we’re making from 27th March 2020 will be provided to you as part of the application process.

The amount of your Arranged Overdraft that's interest-free reduces each year after your graduation. This is to help encourage you to pay back money you may have borrowed whilst studying. In your first year after graduation, up to £2,000 will be interest-free.

In your second year after graduation, you can still have an overdraft of £2,000, but only the first £1,000 will be interest-free.

An interest-free buffer is the amount we’ll allow you to go overdrawn before the charges kick in. The interest-free buffer we give you depends on when you graduated and how long it’s been since your graduation date.

If you're successful in getting a Graduate Overdraft, it's handy to know that you can apply to increase, reduce or remove it online, in the app, over the phone or in branch.

• If you want to increase your limit, please tell us what you want your new overdraft limit to be. Your application to increase will be subject to a credit assessment
• If you want to reduce your limit, your current overdraft balance must be within your new requested limit. The minimum overdraft limit you can have is £250
• If you want to remove your overdraft completely, your account must be in credit