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Personal overdraft rates and charges

Changes to overdraft charges and Personal Reserve. From 16 June, we’ll no longer be charging interest on our overdrafts. Instead there will be a simple daily fee – with interest-free overdrafts becoming fee-free overdrafts. We’ll also be removing Personal Reserve and introducing Emergency Borrowing, and making a number of changes to other fees and how they’re incurred.

Overdraft rates

Account type Representative example
(shows the rate applicable for an agreed overdraft of £5,000)
Barclays Bank Account Up to £5,000 – 19.3% interest pa (variable)
Current Account Plus
(no longer on sale)
Up to £300 – 0% interest pa (variable)
Over £300 and up to £5,000 – 18.3% interest pa (variable)
Additions Active
(no longer on sale)
Up to £300 – 0% interest pa (variable)
Over £300 and up to £5,000 – 18.3% interest pa (variable)

 

Overdrafts, including interest-free amounts, are subject to status and application so the amount offered may be different to that shown in the example. They are repayable on demand. There are no fees if your account is overdrawn within a previously agreed limit.

If you’re switching to Barclays and opening your first personal current account with us, we may be able to match your existing overdraft limit with an interest-free overdraft switcher offer. If you can deposit at least £1,000 a month into your new Barclays account for 12 months, you could get an interest-free overdraft for 12 months (subject to status and conditions). At the end of the period, you’ll then pay the rate applicable to the type of account you hold.


 

Representative example (applicable to a Barclays Bank Account):
For the first 12 months: up to £5,000 – 0% interest per annum (variable)
After 12 months: up to £5,000 – 19.3% interest per annum (variable)

To benefit from this offer you must have an existing arranged overdraft with your old bank, have conducted your existing account well and have made monthly payments of at least £1000 to your account. See terms and conditions for full details, including overdraft match criteria, the maximum limit available and the documents we will need to see. Subject to status and application.

Interest rates on your overdraft

  First Additions
(no longer
on sale)
Additions
(no longer
on sale)
Additions Plus
(no longer
on sale)
Overdraft facility Up to £5,000 Up to £5,000 Up to £5,000
Representative example (shows the rate applicable for an agreed overdraft limit of £5,000) Up to £100 –
0% interest pa (variable)

Over £100 and up to £5,000 – 18.3% interest
pa (variable)
Up to £250 –
0% interest pa (variable)

Over £250 and up to £5,000 – 18.3% interest
pa (variable)
Up to £250 –
0% interest pa (variable)

Over £250 and up to £5,000 – 18.3% interest
pa (variable)


 

Interest rates on overdrafts for customers with Platinum Banking

Representative example (shows the rate applicable for an agreed overdraft limit of £5,000) Up to £250 –
0% interest pa (variable)

Over £250 and up to £5,000 – 18.3% interest
pa (variable)
Up to £250 –
0% interest pa (variable)

Over £250 and up to £5,000 – 18.3% interest
pa (variable)
Up to £250 –
0% interest pa (variable)

Over £250 and up to £5,000 – 18.3% interest
pa (variable)


Overdrafts, including interest-free amounts, are subject to status and application so the amount offered may be different to that shown on the example. They are repayable on demand.

Personal Reserve

Key points:

  • A Reserve is a pre-authorised sum available for you to use in case there are insufficient funds in your Personal current account (because you do not have an overdraft or you have used up the limit of your overdraft)
  • You'll incur a Reserve Usage Fee if your balance is in your Reserve by more than £15 at the end of the working day
  • Once you incur a Reserve Usage Fee, you can make payments or withdrawals up to the limit of your Reserve for 5 consecutive working days – starting with the day you go into your Reserve – without incurring another Reserve Usage Fee
  • At the end of this 5-working-day period, you will incur another Reserve Usage Fee if your balance is still in your Reserve at the end of the following working day. You will incur further Reserve Usage Fees on the same basis for any subsequent 5-working-day period

To help avoid more than one fee, you can choose to have a free Text Alert sent to your mobile to let you know when you enter your Personal Reserve.

We do not charge interest on sums used from your Reserve.

This is how a Personal Reserve would work if you had an agreed Reserve limit of £2,500:

Representative example:
0% interest pa (variable)

One Reserve Usage Fee of £22 for each period of 5 consecutive working days from the day you start using your Reserve.
 

Personal Reserve is subject to status and application. It is repayable on demand.

Your Personal Reserve is intended for short-term use only. If you use your Personal Reserve continuously for more than a few weeks, we may contact you and seek to reduce or restrict your Personal Reserve. We will review your Personal Reserve regularly and may increase or decrease it (including removing it entirely). If we reduce or remove your limit, you will have to pay our charges for returning payments and/or for making guaranteed payments if you subsequently attempt to exceed your revised limit.
 

Our fees when you exceed your limits

You must ensure that you have available cleared funds in your Personal current account to enable us to honour all your cheque, debit card, Direct Debit or standing order payment instructions when we receive them. If you exceed the applicable payment buffers on your account by either:

  • Going over your overdraft limit by £1 without a Reserve
  • Going over your Reserve limit by £1
  • Going overdrawn by more than £15 without either an overdraft or a Personal Reserve

Then, unless the payment is a guaranteed transaction (which we must honour), it will be returned unpaid. A guaranteed transaction is one that we cannot refuse – for example a payment made using your debit card where it is not possible to check that there is enough money in your account. When a payment is a guaranteed transaction, we will honour the transaction but you will incur a Paid Transaction Fee. Also, if you have a Reserve, you will continue to be subject to Reserve Usage Fees (see under Personal Reserve) while you are in, or in excess of, your Reserve.

Where the returned payment is made by cheque, Direct Debit or standing order, you will incur an Unpaid Transaction Fee. When 2 or more payments are made at the same time that would, together, cause you to exceed your limits, then we can decide which payments are guaranteed transactions.

We will try to deal with your payments in a way that minimises the number of unpaid payments.  However, this may not always be possible and we may not be able to honour payments that you regard as important.

 

Unpaid Transaction Fee £8 per day
Paid Transaction Fee £8 per day

 

You won’t incur more than one of these fees in a single working day.

If you draw against a sum credited to your account, such as a cheque, that is subsequently returned unpaid, then if the reversal of that credit causes your account to exceed any of its limits, you will incur a Personal Reserve Usage Fee or Unpaid Transaction Fee, as appropriate. You will also be expected to make an immediate payment into your account in order to bring it back within the appropriate limit.

How and when fees will be applied

  • The account fee is charged on the first working day of each month
  • Overdraft interest is calculated on the daily statement balance and charged to your Personal current account monthly
  • Reserve Usage Fees are incurred on the day you go into your Reserve (capped at one fee per period of 5 consecutive working days starting on the day you go into your Reserve) and applied to your account monthly. We will write to you each time you incur a Reserve Usage Fee and will tell you the amount
  • An Unpaid Transaction Fee is incurred the day an item is returned and applied to your account monthly. We will write to you each time you incur an Unpaid Transaction Fee and will tell you the value incurred
  • A Paid Transaction Fee is incurred the day an item is paid and applied to your account monthly. We will write to you each time you incur a Paid Transaction Fee and will tell you the amount
  • You will be given at least 14 days' advance notice on your statement of the total of any overdraft interest, Reserve Usage Fees, Unpaid Transaction Fees and Paid Transaction Fees to be debited from your account
  • We work out the monthly charging period from the date you select for your statement frequency. The monthly charging period always closes 2 days before the statement issue date
  • Most of our other fees are applied at the time you use our services

Borrowing Services important information

Borrowing services important information

If you are over 18 and think you will need to use our borrowing services as part of your personal account, you should contact us as soon as possible to discuss whether we can provide you in advance with an overdraft, a Personal Reserve or both.

If we provide you with an overdraft and/or a Reserve, you should make regular payments into your account so that the amount you owe us is reduced. If you do not do this, we can require you to do so.

If we decide not to provide you with borrowing services, then (subject to any applicable payment buffers) any payments you make that would take your personal current account overdrawn will be returned unpaid, unless they are Guaranteed Transactions.

When we agree to provide you with an overdraft and/or Reserve we shall confirm to you in writing the limit of your overdraft and/or Reserve, together with the fees and interest rates that are payable when you use them.

All overdrafts are subject to status and application.

Barclays Bank PLC. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 122702). Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Further details can be found at www.lendingstandardsboard.org.uk. Barclays Insurance Services Company Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Register number: 312078).

Barclays Bank PLC. Registered in England. Registered no. 1026167. Barclays Insurance Services Company Limited. Registered in England. Registered no. 973765. Registered office for both: 1 Churchill Place, London E14 5HP. ‘The Woolwich’ and ‘Woolwich’ are trademarks and trading names of Barclays Bank PLC. Barclays Business is a trading name of Barclays Bank PLC.


 

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