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What is an arranged overdraft?

An arranged overdraft allows you to borrow more money than you have in your account, up to an agreed limit.  It is intended for short-term use only and will cost you money in interest to use it. 

It is a form of debt and is repayable on demand. Always make sure you have enough money in your current account, or a suitable Arranged Overdraft limit in place before any payments are due to come out of your account.

You can read more by visiting our Overdrafts page.