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Overdrafts

What support is available to me?

Until 31 October 2020, if you have an arranged overdraft limit, you can apply for support for another two months if you have or expect to have temporary financial difficulties because of the coronavirus situation.

For two months from the date we finish looking at your application, on your main current account

  • We won’t charge interest on the first £500 of your arranged overdraft
  • We’ll waive some of the interest on any balance higher than £500 by charging a lower annual rate of interest (EAR) of 19.51%

By your main current account, we mean the account your income is paid into, or the account you pay your bills from.

We’re also capping interest charges at £90 per monthly charging period, for people with an overdraft on a personal current account, until 31 October 2020 or when your two months of additional support ends, if this is later.

We’ll update you by text on the progress of your application and we’ll let you know when the additional support is on your account.

This isn’t an application for a new or increased overdraft limit. Your current arranged overdraft limit still applies, even if it’s less than £500

If we charge you interest, we’ll let you know around 20 days before we take it – you’ll see this on your statement. You can work out your interest charges using our coronavirus overdraft calculator.

To help us support those who need it most, please read the below information before you contact us.

How do I apply for support?

Just complete the form. It’s only for support with your existing overdraft though – it’s not an application to extend your overdraft limit, or apply for a new overdraft.

What if I can't apply online?

If you need help completing our form, give us a call or visit a branch.

We have fewer colleagues than usual answering phones right now because of coronavirus, which is having a big impact on our call waiting times – we’re sorry about this.

Which accounts aren’t eligible?

You can’t get this temporary support on student, higher education, business, wealth or mortgage current accounts.

The £500 we refer to includes any existing interest-free buffer – it isn’t in addition to this.

Will this temporary support be automatically applied to my account?

No. Apart from the £90 monthly cap, you’ll need to apply for this support, if you want it. We won’t add it if you don’t apply. 

What information do I need when I apply?

You’ll need to give us the sort code and account number for your main current account. This means the account your income is paid into, or the account you pay your bills from. You can find these on your statement or on the front of your debit card.

You’ll also need to give your mobile number so we can text you updates on your application.

When can I apply for support?

The final day you can apply is 31 October 2020.

It’ll stay on your account for two months.

If you apply before 11 August 2020, the support will start from 11 August 2020.

If you apply on or after 11 August 2020, the support will start when we finish looking at your application.

If you’re not experiencing money worries right now, but expect to soon, you can apply any time up until 31 October 2020 – whenever the support would be most helpful for you.

How will I know if my application has been approved?

Once you’ve applied, we’ll text you to let you know we have your application.

If it was successful, we’ll text you again to let you know when your support has started.

If there are any problems with your application, we’ll let you know.

Will this support cover all of my accounts?

No – this support is only for your main current account. This means the account your income is paid into, or the account you pay your bills from.

If you have a joint account, only one of you needs to apply.

Will I still get alerts when I go overdrawn?

Yes – we’ll keep sending you alerts when you go into your arranged overdraft, to help you manage your money.

Where can I see my overdraft limit?

You can see any arranged overdraft limit you have, as well as your current balance, in your Barclays app or in Online Banking.

I don’t have an arranged overdraft – can I apply for one?

If you have a provisional limit available, you’ll see a notification in your Barclays app or in Online Banking. If you can see your provisional limit, you can apply for an arranged overdraft in either.

If you don’t have a provisional limit, or you don’t have a current account with us yet, use our eligibility tool to see if your application is likely to be accepted.

You can apply for our temporary coronavirus support if your overdraft application is successful.

Arranged overdrafts are subject to application, financial status and borrowing history.

My agreement says you charge 35% EAR for using my overdraft. Is this right?

Yes – that’s correct.

The additional support is only temporary – it doesn’t change the terms of your overdraft agreement with us.

Will any of this affect my credit score?

No – your credit score won’t be affected.

What support was available before 11 August 2020?

We didn’t charge any interest on overdrawn balances on personal current accounts from 27 March to 30 April 2020.

Between 1 May and 9 July 2020, we didn’t charge interest on overdrawn balances of up to £750.

From 10 July to 10 August, we didn’t charge any interest on overdrawn balances of up to £500.

If you used more of your arranged overdraft limit during those times, we waived some of the interest to reduce the annual rate of interest (EAR) to 19.51%.

We also capped interest charges at £90 per monthly charging period.

Why have I received a message about support?

We’ve let you know about our support during the coronavirus situation because you have an arranged overdraft limit on your personal current account.

Even if you’re not currently using your overdraft, you might still find it useful.

Worried about your finances?  

If you’re experiencing longer-term financial difficulty, or want some extra support, don’t worry – we can help.

Visit our money worries page