will i get charged??

zebrastripesrule

Hi , just wondering if i will get charged, for going into my overdraft?? I have an agreed overdraft of £500, i slipped up and forgot to pay money into my current account to cover a direct debit and slipped into the overdraft by £100, for just one day.

I have read the t&cs but not sure if i will get charged for this as its within the limit they aagree to??

Thanks for any help

dalesrider

Depends on the bank... You may get charged interest on it.

First Direct then No. You get the £250 interest free.

jonesMUFCforever

Which bank is it? Some will have an overdraft usage fee.

innovate

Best ask your bank, so you can be 100% certain.

_Andy_

zebrastripesrule wrote: »

Hi , just wondering if i will get charged, for going into my overdraft?? I have an agreed overdraft of £500, i slipped up and forgot to pay money into my current account to cover a direct debit and slipped into the overdraft by £100, for just one day.

I have read the t&cs but not sure if i will get charged for this as its within the limit they aagree to??

Thanks for any help

Have you rung them and asked?

zebrastripesrule

the bank is nationwide.
They sent a statement when it happened before, but that time i complained as i paid the money in before it went out but they processed the debit before the credit, which i said wasn't fair. Thats when I set the overdraft up, hence not sure if tey will cahrge me this time. As i have already compalined i cant again, besides it I was a day late paying the money in...

Thanks all

noh

Processing debits before credits makes no difference. It's the balance at close of business that determines whether or not you are overdrawn not the intra day balance.
If you were £100 overdrawn for one day but within your overdraft limit with Nationwide you will be charged interest at 18.9% AER.
Which is somewhere between 5 and 6p.
http://www.nationwide.co.uk/current_account/rates.htm

zebrastripesrule

ok thanks, thats not so bad i guess, but still annoying!