How long can i stay overdrawn

Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Even if you regularly peek at your bank balances online, it is possible to accidentally let your account fall negative, otherwise known as overdrawing your account. For example, you may have written a check to a company or individual who did not deposit it immediately.

A debit card transaction may not have cleared quickly, and your balance was larger than it should have been. Or, a deposit could have been delayed, leaving you with insufficient funds to cover your withdrawals. Whatever the reason, the consequences for having non-sufficient or insufficient funds NSF or overdrawing your checking account will depend on your bank's policies, whether or not you have a linked savings account , and if you have opted for overdraft protection.

Your bank may offer an overdraft protection program. In some cases, you can link another account to the checking account, and if your balance goes negative, funds will automatically be transferred in to cover the difference. In other cases, the bank will process the transaction, and you will be charged fees until you deposit money to cover the difference.

Either way, you may pay multiple fees for using these services. There could also be a monthly service fee and daily fees for each day your account is negative. If a check bounces, you may have to pay a returned check fee.

All these costs can add up quickly. Federal regulations require bank customers to opt in to overdraft protection programs. That means that your bank cannot automatically enroll you when you open an account. While these programs may seem like a safety net, they can result in an avalanche of fees. Not opting in also has its costs. If you do not have overdraft protection and try to complete a transaction that you do not have funds to cover, it will usually be denied.

If you are trying to take money out of an ATM, that's an inconvenience. But if you've written a check and it bounces, the bank may charge a non-sufficient funds NSF fee. Your arranged overdraft will continue indefinitely unless we specify an end date or you ask to end it. We will carry out a review of your arranged overdraft at least once every 12 months.

You need to be 18 or over to apply. How much we lend depends on our assessment of your personal circumstances. All overdrafts are always repayable on demand. We can also reduce your arranged overdraft limit at any time. You can keep track of your balance through internet or Mobile Banking, in branch or through PhoneBank.

This could mean your mortgage or rent as well as other commitments may not be paid and some suppliers may charge you fees for missing those payments. You can keep track of your balance with mobile alerts, through Internet or Mobile Banking, in branch or through PhoneBank.

You can either reduce or apply to increase your arranged overdraft limit at any time via your internet banking or mobile banking app in just a few simple steps. If you are applying to increase your arranged overdraft limit you can benefit from an instant online decision and if approved your new limit will be ready to use immediately.

If you do need to cancel your arranged overdraft, you can do this straightaway if your account is in credit.

If you cancel your overdraft, we might not be able to offer you the same arranged overdraft limit again in the future. To cancel, your account needs to be in credit. You can also do this through Mobile Banking. There are many ways to manage your money more easily and avoid unnecessary arranged overdraft interest. Using any of our banking services, like PhoneBank, Internet Banking and Mobile Banking, can help you keep a closer eye on your bank balance.

Our mobile alerts service offers a simple way to stay on top of your finances without even having to think about it. Mobile Banking can help you manage your money on the go. We don't charge you for Mobile Banking but your mobile phone operator may charge for some services.

We make payments from your account shortly after midnight at the start of the due date. If your payment date falls on a non-working day, then we will try and collect your payment the next working day. This gives you the chance to put extra funds into your account so that we can make the payment.

The funds need to be available to use straight away, so you could transfer money from another personal account you have with us via Internet Mobile or Telephone Banking or pay in cash over the counter in branch.

For Cheque and Direct Debit payments, if there are not enough funds in your account at 2. For Standing Order and Future Dated Payments we will try to make the payment on the next working day the payment was originally due. Tool Money Manager. Everyday money. Calculator Credit card calculator. Tool Couch to Financial Fitness. Calculator Baby costs calculator. Calculator Mortgage affordability calculator. Calculator Mortgage calculator.

Money troubles. Calculator Pension calculator. Calculator Workplace pension contribution calculator. Tool Find a retirement adviser. Calculator Redundancy pay calculator. Home Everyday money Types of credit. Everyday money Types of credit. Overdrafts explained. Overdraft charges Do you need an overdraft?

How does an overdraft work? You can find out more on our guide Do you need to borrow money? Types of overdraft. See below for details of interest and fees charged on both types of overdraft. Back to top.

Overdraft charges. Use our Money Navigator Tool. Banks might, for example, reduce or waive interest, offer a continuation of overdraft borrowing at the current rate of interest, or agree on a repayment programme, which might include a personal loan.

Speak to your bank or building society as soon as you can. If you feel vulnerable for any reason, explain your circumstances and your provider is obliged to take this into consideration. Is your household income getting squeezed?

Check you are receiving all the benefits or grants you might be entitled to. Do you need an overdraft? Using your overdraft too much? But overdrafts should only be used for emergencies or as a short-term option.

Compare bank accounts. Search for a better current account. Take a look at our Current accounts page for places to go to help you choose the right account for you. Want to feel more in control of your finances? Read our guide Switching bank accounts if you have an overdraft. Tips for controlling your overdraft.

Keep an eye on your account balance. Keeping track of your account balance is one of the best ways to avoid overdraft costs. Use savings if you have some. Find ways to live on a budget. Find out more in our guide Living on a budget.

Switch banks. Find out more in our guide How to switch bank accounts. More tips on cutting overdraft costs. For more tips and tricks on cutting the cost of overdrafts, visit the MoneySavingExpert website. Learn more in our guide How to reclaim unfair bank charges. Beware — your bank overdraft could be taken away. Read more about complaining on the Financial Ombudsman Service website. Was this information useful? Yes No. Thank you for your feedback.

Share this article. Email Facebook Twitter. More options. Share this with. WhatsApp LinkedIn. Explore this topic Close Types of credit. Overdrafts Overdrafts explained. Explore this topic Close Overdrafts Overdrafts explained. Talk to us live Talk to us live for…. Talk to us live for… Pensions guidance. Talk to us live for… Money guidance. Talk to us live for…. Talk to us live for pensions guidance using. Online form. Web chat.