Santander arranged overdraft interest

f1charlie

I have a charge on my Santander current account this month for 'arranged overdraft interest' of £0.45. I have an arranged overdraft with a limit of £4500, but have not gone overdrawn. Looking back through my statements, 6 months ago there was a charge of £0.76, but again I had not gone overdrawn.
I thought you were only charged if you actually went overdrawn, or have I missed something?

YorkshireBoy

I believe Santander require funds in the account the working day before outgoing payments (such as DDs/SOs/etc) are made.

Whilst you may not appear overdrawn on your statement, you may have been 'technically' overdrawn for a few minutes during the overnight batch processing run.

Maybe take a look at your statements in light of what I've said above?

jonesMUFCforever

Do you regularly pay cheques in but perhaps drawn on them before they cleared. No overdrawn balance would show on your account but may be the reason for it.

electric_comperella

I've had the exact same thing happen on my statement I received today, I'm never overdrawn and haven't paid any cheques in for years....:mad:

chanz4

if cash is transferred from one acc to the other, then you use a debit card it does this

daveyjp

When you say you have never been overdrawn, do you mean you never see a negative balance on your account, or that you always have a large balance so there is no way you could be overdrawn?