Alliance and Leicester Overdraft

Credit_Jake

Hi, my A & L account has an overdraft limit of £500 (drinks on me ), I have never used it however, but reading the terms and conditions, its appears that if I were to use it up to the agreed limit of £500 then I would only pay £5 each month.

Is this correct? I am sure I would have to pay interest on it but I can't find anything that suggests I would.

frankfish

Hi Jake

I have an A7L account with an overdraft, which I do use. The charge is 50p per day that you use the facility, capped at £5 per month.

Hope this helps

Credit_Jake

Hi, how do I find out what type of account I have? I have no clue.

slummymummyof3

I have a premier account and have the first 12 months from opening the account with interest free overdraft and then 50p per day for each day in a month you are overdrawn, which is capped at £5 per month. Go on their website and get the phone no. and call them and ask what account you have.

Credit_Jake

Cool thanks, what's the interest after the 12 months? Probably best i just don't use the overdraft :money: