If I go over my overdraft limit but put money in the same day, will i be charged?

KaratePigeon

Hello,
a quick question -
I have a first direct account with a nasty £25 charge if I go over my overdraft limit. Checked it yesterday and an unexpected payment had come out, putting me over my agreed overdraft limit. Really annoyed as expected to be charged.

Checked the balance today and a cheque I paid in has cleared, and the way it shows on internet banking is like a total of all funds in vs all funds out, and since by the end of the day I was back within my limits, so it doesn't show that I was over my limit for that day.

Will I get charged, or is it only the total at the end of the day which counts?

Thanks.

Gromitt

It depends when their end of day is. For some banks, if you are back in credit by 3:30pm, then no charges are made. I don't know FDs time.

gt94sss2

It should be free - though it will depend on what date the cheque cleared (unless its your first time over your limit in 6 months)

We will not charge an Arrangement Fee:-

• for your first ever overdraft with us; or
• provided within the last six months, we have not agreed to an overdraft request from you
• for Informal Overdrafts if covering funds are paid in before the end of the day
• if debited Arrangement Fees (or interest) cause your account to go overdrawn or further overdrawn.

We will not charge more than one Arrangement Fee a day.

Regards
Sunil

KaratePigeon

Thanks, I think it'll be ok then. that's good to know for the future!

dalesrider

Gromitt wrote: »

It depends when their end of day is. For some banks, if you are back in credit by 3:30pm, then no charges are made. I don't know FDs time.

End of the day....

Midnight.

So long as your are in credit by that time you will be OK.

But if you do and its your 1st time. Ask nicely explaining the situation and often will result in a waive of the fee.