Why do I never get charged for arranged overdraft (natwest)?

RonJeremy

Hi, on my Natwest bank account (CURRENT PLUS) I have £1500 arranged overdraft (which I never wanted in the first place),
but now that my workplace is bust it's coming in handy,

Here's the thing I'm moving away from UK (thank god!) and I have plenty of money on my offshore bankaccount, but my UK account is -£500 right now and will continue to sink as I still have 3 weeks left to live here.

So I could move over some money from my offshore savings account to pay off the overdraft and have enough on here so I can live the next 3 weeks, however I rather not go through with that mess,
however I have a big redundancy payment from RPO coming in soon (redundancy, notice period, holidays, last months salary) (+ apartment deposite a month from now) which should easily cover all my uk expensive but it's taking its time,
so I would much rather use that money than to bring in money offshore,

so my question is can I safely stay in overdraft mode for a while?
I've gone though my statements online and I can't find a single case of them ever charging me on the occations that I've been overdraft.
But I'm sure there has to be something! maybe something sneaky that I'm not seeing, or maybe a bill will come later.

chambta

You will only get charged debit interest for what you use.

They will get a bit jumpy if there is nil credit turnover for a couple of months if you are in overdraft but the odd tenner will keep it ticking over.

RonJeremy

chambta wrote: »

You will only get charged debit interest for what you use.

They will get a bit jumpy if there is nil credit turnover for a couple of months if you are in overdraft but the odd tenner will keep it ticking over.

What are you talking about?
as I said I'm -500 overdraft atm (and sinking), does that not qualify as "what I use"?

Edit: done some research and it seems to be 1.52% montly interest rate, tho I still don't understand where this is paid, since I've had overdraft before (tho never for an entire month) you would think there would at least be some tiny charge for going overdraft like £500 at some occations (even if only lasted a week)

xrjtg

To answer your original question, there shouldn't be any problems with using your overdraft provided you're happy to pay the interest charges. Why you haven't been charged any interest before when you've used the facility I couldn't say.

chambta

RonJeremy wrote: »

What are you talking about?
as I said I'm -500 overdraft atm (and sinking), does that not qualify as "what I use"?

Edit: done some research and it seems to be 1.52% montly interest rate, tho I still don't understand where this is paid, since I've had overdraft before (tho never for an entire month) you would think there would at least be some tiny charge for going overdraft like £500 at some occations (even if only lasted a week)

Maybe you should do your research first before getting shirty with those answering your question.