Our aim is to make everyday borrowing simple and transparent, and to put you in control. That’s why we’re moving to a single rate of interest for our arranged overdrafts on FlexPlus, FlexDirect and FlexAccount.
One interest rate of 39.9% EAR/APR (variable) for FlexPlus, FlexDirect and FlexAccount
This means: Borrowing £500 for 15 days will cost 58p less if you have a FlexPlus or FlexDirect. It will cost £3.83 more if you have a FlexAccount.
We’re removing all unarranged borrowing charges
This means: if you do go over your available limit, you won’t receive any additional charges. There will be no £5 daily fee, and no £5 paid or unpaid transaction fees.
We’re introducing new text alerts
This means: we’ll alert you each time you enter your arranged overdraft so you can avoid arranged overdraft fees. You’ll receive these texts automatically, as long as we have your correct mobile number.