A & L premier direct charge

gem4

Can anyone tell me what A&L charge if you dont manage to put the £500 in your account every month?
I read that it says you 'may' be charged at the overdraft rate.
Do they mean the overdraft rate on £500 or on what is left in the account by the end of the month?
In other words, what is the actual amount that I would likely be charged?
Is it only charged in the month you fail to put it in?
Many questions, but its a little confusing. I'm just worried that one month something may go horribly wrong.

humfer

Think it is £5 but will check on that and get back to you...

masonic

As humfer suggests, there is a underfunding fee of £5 for each month you do not make the minimum deposit and you might lose your overdraft altogether if you fail to keep up with your deposits. It's all spelt out in the T&Cs. It is best that you set up some sort of recurring payment to make sure you don't run foul of these penalties.

gem4

Thanx guys, I have set up some standing orders as a safety measure, dont want to be paying a fiver at any time.

KTF

The first time they send you a letter. The second time they apply the £5 charge.

Gordon_the_Moron

Don't rely on them doing that, they may do it out of courtesy but they are not required to under their terms and conditions so they could change that policy any time without letting you know.