Overdrafts - Personal Banking | Ulster Bank

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A little breathing space when you need it

Open to UK residents aged 18 or over with an eligible Ulster Bank current account. Lending is subject to credit review and approval.

What are the different types of overdraft?


Icon expand Arranged overdraft

This is a set limit we agree with you (after you've successfully applied). The limit then lets you spend more than you actually have in your current account. This might be on things like paying a bill just before pay day that you'd forgotten about.

As an example, if you have an arranged overdraft of £100, and £50 of your own money in your current account, you could then make a payment of up to £150 because of the arranged overdraft. 


Icon expand Unarranged overdraft

An unarranged overdraft is where you spend more money than you have in your current account and haven't agreed an arranged overdraft limit beforehand, or you go over your arranged overdraft if you have one.

If you enter an unarranged overdraft you may be charged unarranged borrowing fees depending on the type of current account you have, how long you remain in that position. The maximum monthly charge for all unarranged fees is £80.

How could an overdraft help?
Peace of mind

An overdraft provides you with breathing space when you need it. It can also help if an unexpected bill comes out of your account.

Borrow to suit you

Borrow up to a maximum of one month’s salary, subject to approval. For limits higher than £15k or temporary limits please contact your branch.

No hidden costs

There are no set up or renewal fees, and as long as you stay within your agreed limit, you only pay monthly interest on what you borrow.

Flexible limits

Remove your overdraft, or change your limit whenever you want. There’s no set amount to pay back each month, although interest charges will apply.

Fees and charges The need to knows

Arranged overdrafts
There are no set up fees for an arranged overdraft, but you could be charged arranged overdraft interest depending on the type of current account you have, how much of the limit you've used and how long you use it for. 

Unarranged overdrafts

There are charges involved for using an unarranged overdraft. This can often work out more expensive than using an arranged overdraft. If you are in unarranged borrowing, you will pay a Maintenance Charge and Paid Referral Fees. The maximum monthly charge for all unarranged fees is £80.

For full details of the interest and charges please read Your Overdraft Charges.

Helpful tips on how to avoid unarranged borrowing

Keep an eye on your account

There are lots of ways to check your balance and stay within your limit.

Mobile Banking
Keep track of your money wherever you are with our secure and easy to use mobile app. More about our apps

Anytime Banking
Check your balance, pay bills and make transfers 24/7 from the comfort of your home. More about Anytime Banking

Text Alerts
Alerts are a simple way to keep up-to-date with your accounts and avoid unnecessary charges. More about Text Alerts


Plan ahead

Knowing exactly where you stand with your money will help you to plan ahead and manage your outgoings.

  • Write down what money is coming in and what needs to go out each month
  • Set up standing orders and Direct Debits to pay your monthly bills
  • A good time for payments to leave your account is just after you’ve been paid
  • Book a personal finance review if you need help to organise your finances


Consider your options

Due to unforeseen circumstances and expenses, you may sometimes need flexibility with your borrowing. We have a range of borrowing options that could help.

Personal Loans
A longer term borrowing option where the interest rate is fixed from the outset so you know exactly what to budget for each month. Read more

Credit cards
A flexible and convenient way to borrow. Read more

Eligible accounts

Arranged overdrafts are available on the following accounts:
Current, Private, Current Plus*, ufirstgold, ufirst Private, Student and Graduate Accounts.

Arranged overdrafts are not available on following accounts:
Step, Dual*, Service, Adapt, or Facility Accounts.

*These accounts are no longer available to new customers.

What if I have a student or graduate account?
Student outside Queen's university

To help you through your student days we offer an interest-free overdraft of up to £3,000 depending on your course (subject to credit review and approval).

You can also apply for an interest-free overdraft of up to £1,500 (subject to credit review and approval) for up to one year after you graduate.         

Tools to help you

Find out how much you're likely to pay

Why not use our overdraft cost calculator to see what an overdraft could cost you based on your circumstances? The great news is it won't impact your credit rating.

Check your chances before applying

Give our eligibility tool a try and find out if you're likely to be approved for an overdraft. It can give you an idea of your potential overdraft limit and representative APR.  It takes just a few minutes and it won't harm your credit rating. 

Add your signposting title here… Common questions

An overdraft is repayable on demand. Overdrafts may not be exceeded without prior permission. If you exceed your limit, we will charge interest at the rate stated in Your Overdraft Charges. A Maintenance Charge and other charges may also apply. 

Ulster Bank subscribes to the lending code. The Code can be found here.

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