Concerned about your overdraft borrowing?
We're here to help
If you are concerned about the cost of your overdraft, get in touch with your banker or call us on 0330 123 1966 or +44 (0)207 597 4044 from outside the UK.
We can discuss your specific circumstances and ways in which we may be able to support you.
We can look at a temporarily stopping your interest charges on your overdraft and your account maintenance fees to help give you a bit more each month. This might be where you need a bit of time for your circumstances to change, such as if you’re unable to work.
We can consider accepting repayments towards your outstanding overdraft and reducing your overdraft limit to help you reduce the cost of your borrowing.
In some cases, we might propose a combination of the options above if we think that will help your situation.
The impacts that these arrangements could have on you
We have to tell credit reference agencies when we accept interest amounts that differ from our Relationship Agreement with you. While other lenders will be able to see that an arrangement is in place, this may be viewed more favourably than an unmanaged increasing debt balance.
Once an arrangement comes to an end, we will work with you to agree how best to get you back on track.
Other places you can go for help and information about borrowing and debt
If you are struggling, particularly with a number of other debts, then you can also turn to a number of free organisations that offer debt help online, over the phone or face-to-face:
- MoneyHelper: Debt Advice Locator tool
- National Debtline
- StepChange Debt Charity
- If you’re self-employed, the Business Debtline has useful information and advice for businesses.