Wealth current account

An overdraft limit is a borrowing facility which allows you to borrow money through your current account. There are two types of overdraft – arranged and unarranged.

We have arranged overdrafts available in many currencies and the first £1,000 (or currency equivalent) of the arranged overdraft on your Wealth current account is interest-free (variable).

An arranged overdraft is a pre-agreed limit that lets you spend more money than you have in your current account. It can be a safety net to cover short-term outgoings, like an unexpected bill. It is not suitable for longer-term borrowing. We charge you for every day of the month that you use your arranged overdraft where you go beyond any fee-free limit you may have.

Our eligibility tool can show you the likelihood of getting an arranged overdraft up to £5,000 (larger limits are available) and our overdraft calculator lets you to see how much it could cost to use an overdraft.

To arrange an overdraft, just contact your Wealth Manager.

Representative example:

This example shows the rate applicable for an arranged overdraft of £10,000, $10,000 and €10,000. Please contact us for rates offered on other currencies.

• Up to £1,000 (or currency equivalent) – 0% interest pa (variable)
• Over £1,000 and up to £10,000 (or currency equivalent) – 5% interest pa (variable) above the relevant central bank reference rate for sterling, US dollars and euros

These arranged overdraft rates will change automatically, as soon as any central bank reference rate change applies.

You can only make payments from your account if you have enough money in your account or through an arranged overdraft to cover them. We will always attempt to return any transaction that could take your account into an unarranged overdraft position. Having enough money in your current account or having an arranged overdraft limit could help prevent payments such as priority bills from being returned unpaid.

On very rare occasions we may be unable to return a payment (for example due to an offline transaction made on a flight) and the account may enter an unarranged overdraft. No additional charges will be applied in this situation.

Information regarding the conduct of your account may be sent to credit reference agencies. As with any debt or borrowing, this may affect your ability to get credit in the future.

An unarranged overdraft is when you spend more money than you have in your current account and you have not agreed an Arranged Overdraft limit with us in advance or you have exceeded an existing arranged overdraft limit.

There is no charge for unarranged overdrafts on your current account.

Overdrafts are subject to application, financial circumstances and borrowing history so the amount offered may be different to that shown in the example. Overdrafts are repayable on demand.