Personal overdraft rates and charges

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 a new customer moving your current account and overdraft to Barclays and pay in at least £1,000 per month for 12 months, you could get a 0% pa (variable) overdraft for 12 months.

Representative example:
Up to £5,000 – 0% interest pa (variable)

At the end of the 12 months your overdraft will need to be repaid or replaced with a new agreed facility. See Terms and conditions for details, including overdraft match criteria and maximum limit available. Subject to status and application.

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 when you use of your Reserve. This fee will be charged when your balance at the end of the working day is in your Reserve by more than £1.
• 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.

Reserve Usage Fee: £22 (one fee per period of 5 consecutive working days, starting on the 1st day you go into your 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 5-consecutive-working-day period 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.
 

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:

• Going over your overdraft limit by £1 without a Reserve, or
  
• Going over your Reserve limit by £1, or
  
• 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), the payment will be returned unpaid. A Guaranteed Transaction is one that we cannot refuse – for example a payment made by a guaranteed cheque. When a payment is a Guaranteed Transaction, we shall honour the transaction but you will incur a Guaranteed 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 a Returned 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 paid and which are returned unpaid unless any of those payments are Guaranteed Transactions.

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

You will not incur more than 5 Returned Transaction Fees and/or Guaranteed Transaction Fees in any 1 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 Returned 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.

• The account fee is charged on the 1st 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 1 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 value of the fee(s) incurred.
• Returned Transaction Fees are incurred the day an item is returned and applied to your account monthly. We will write to you each time you incur a Returned Transaction Fee and will tell you the value of the fee(s) incurred.
• Guaranteed Transaction Fees are incurred the day an item is paid and applied to your account monthly. We will write to you each time you incur a Guaranteed Transaction Fee and will tell you the value of the fee(s) incurred.
• You will be given at least 14 days' advance notice on your statement of the total of any overdraft interest, Reserve Usage Fees, Returned Transaction Fees and Guaranteed 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