COVID-19 - Overdraft FAQs
Will I still have to pay daily fees when I use my arranged overdraft?
Between 1 June and 9 July 2020, if you use up to £750 of your arranged overdraft, we won’t charge any daily fees. From 10 July to 10 August 2020, if you use up to £500 of your arranged overdraft, we won’t charge any daily fees.
If you use more than £500 of your arranged overdraft during this time, you will be charged normal daily fees with overdraft fees capped at £90 per monthly charging period.
Please note: If your arranged overdraft is less than £500, your current limit still applies.
Will these temporary measures be applied to my account automatically?
Yes – they will, if you already have a personal arranged overdraft on your Barclays Current Account. We won’t change your existing overdraft limit as part of these measures.
If you’d like to arrange a new overdraft, or increase your existing one, you’ll need to apply in the normal way. All applications are subject to financial circumstances and borrowing history. If we accept your application, we’ll apply these measures automatically until 10 August 2020.
Will you be increasing arranged overdraft limits?
We won’t change your limit as part of these measures. If you do need to increase your overdraft limit, you should apply for that in the same way you normally would (overdrafts are subject to financial circumstances and borrowing history).
Will I still get alerts when I go overdrawn?
Yes, we’ll keep sending alerts when you go into your arranged overdraft to help you manage your money.
Where can I see my overdraft limit?
You can see any arranged overdraft limit you have, as well as your current balance, in your Barclays App or Online Banking.
I’ve applied for an overdraft and it says you charge daily fees for using it. Is this right?
If your application is successful, the overdraft pre-contract information and your credit agreement will say you’ll be charged daily fees for using your personal arranged overdraft, but this won’t apply on any personal current account overdrafts up to £500 overdrawn between 10 July and 10 August 2020.
I’ve had a notification of charges for using my overdraft. Why is that?
You will be charged for using your overdraft if:
- you were overdrawn before 27 March 2020
- you use more than £750 of your arranged overdraft between 1 June 2020 and 9 July;
- you use more than £500 of your arranged overdraft between 10 July 2020 and 10 August 2020; or
- you are overdrawn after 10 August 2020.
There’ll be a notification on your statement about 20 days before the charge is debited from your account.
Will any of the temporary overdraft fee changes affect my credit score?