Halifax Reward Current Account - Overdraft & available balance?

OnlyMe_08

Sorry if this seems a silly question, but here goes.....

Lets say I banked a cheque for £250 a few days ago (the deposited cheque forms part of the daily closing balances - in credit), but because it hasn't properly cleared, my available balance is showing as £450 (assuming £500 overdraft facility) and the statement balance as £200 in credit - would I be charged the daily £1 usage fee?

In other words, does the fee kick in on available or statement balance?

Also, say a direct debit was claimed shortly after midnight, but I added funds to the account sometime during the day to put it back in the black, I assume no fees will apply? If so, anyone know the cut-off time to do so?


Thanks

rb10

Overdraft fees are based on your statement balance, ie includes the impact of any uncleared cheques from the day that they are paid in.

To avoid being charged for DDs that take you overdrawn, funds (cash/cheque/online) need to be paid in by 10pm.

OnlyMe_08

Thanks rb10 - puts my mind at ease

anamenottaken

rb10 wrote: »

Overdraft fees are based on your statement balance, ie includes the impact of any uncleared cheques from the day that they are paid in.

To avoid being charged for DDs that take you overdrawn, funds (cash/cheque/online) need to be paid in by 10pm.

10pm on which day?
(a) night before the DD day?
(b) night of the DD day?

rb10

anamenottaken wrote: »

10pm on which day?
(a) night before the DD day?
(b) night of the DD day?

The night of the DD day.

But note that if you don't have an available overdraft to cover it, they may reject the DD at the outset - this only applies if they pay it and it takes you (further) into an arranged or unarranged overdraft.