Personal overdraft rates and charges

Overdraft rates

Account type	Account fee
Barclays Bank Account	1.49% a month, 19.3% EAR typical variable Customers with Platinum Banking, interest on agreed overdrafts is free on the first £250. Over £250, interest is 1.17% a month, 14.9% EAR typical variable
Current Account Plus	For agreed overdraft limits of £300 and below: Free up to agreed overdraft limit. For agreed overdraft limits of £301 and above: Free on the first £300. Over £300, 1.31% per month, 16.9% EAR typical variable
Additions Active	For agreed overdraft limits of £300 and below: Free up to agreed overdraft limit. For agreed overdraft limits of £301 and above: Free on the first £300. Over £300, 1.02% per month 14.9% EAR typical variable

 

Overdrafts, including interest-free amounts, are subject to status and application. 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% EAR typical variable overdraft for 12 months. EAR means Equivalent Annual Rate

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.

The key features of Personal Reserve are:

• A Reserve provides you with a pre-authorised sum that is available for you to use in case there are insufficient funds in your personal current account (and you do not have an overdraft) or in case you have used up the limit of your overdraft;
  
• You will be charged a Reserve Usage Fee when you make use of your Reserve;
  
• A Reserve Usage Fee will be charged when your balance as at the end of the working day goes into your Reserve by exceeding the limit of your overdraft by more than £1 or, if you do not have an overdraft, by going overdrawn by more than £1;
  
• When you incur a Reserve Usage Fee you will be entitled to make payments or withdrawals up to  the limit of your Reserve for five consecutive working days, starting with the day you go into your Reserve, without incurring a further Reserve Usage Fee;
  
• After the end of the five working day period, you will incur a further Reserve Usage Fee on the next working day that your balance as at the end of the working day is in your Reserve. Further Reserve Usage Fees will be incurred, on the same basis, for any subsequent five working day period starting with the day on which your balance as at the end of the working day is in Reserve.

Reserve Usage Fee: £22 (one fee per period of five consecutive working days starting on the day on which you go into your Reserve)

Reserve interest rate: 0% EAR typical variable (we do not charge interest on sums used from your Reserve). EAR means Equivalent Annual Rate.

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 we may 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 (or further exceed) the applicable payment buffers on your account by:

• Going over your overdraft limit by £1 and you do not have a Reserve; or
  
• Going over your Reserve limit by £1; or
  
• Going overdrawn by more than £15 and you have neither an overdraft or a Personal Reserve on your personal current account.

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 two 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

 

Returned Transaction Fee	£8 per item
Guaranteed Transaction Fee	£8 per item

 

You will not incur more than five Returned Transaction Fees and/or Guaranteed Transaction Fees in any one 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 (or further 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 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 on which you go into your Reserve (capped at one fee per period of five consecutive working days starting on the day on which 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 two days before the statement issue date.
• Most of our other fees are applied at the time you use our services.

Borrowing Services important information