Apply For An Overdraft - Overdrafts | Ulster Bank

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New Arranged Overdraft

A little breathing space when you need it

Arranged overdrafts are available to eligible customers with a Ulster Bank current account, UK residents aged 18 or over.  Lending is subject to credit review and approval.

  We're changing our overdraft pricing on 27th March 2020. See these changes in detail

Considering an Arranged Overdraft?

An Arranged Overdraft can cover your short term expenses and could be useful for short-term borrowing or in an emergency. So, if payday is still a long way off and you're getting a bit short of cash, that's where our Arranged Overdraft could help. 

Overdrafts are a way of borrowing money and you're responsible for repayments if you decide to use one. If you're unable to repay what is owed, you could harm your credit score. Most lenders use this to assess whether they'll lend to you.

An Arranged Overdraft allows you to go overdrawn up to an agreed limit. So, if payday is still a long way off and you’re getting a bit short of cash, that’s where our Arranged Overdraft could help.

How our Arranged Overdraft can help

Sometimes it’s just the general cost of living, sometimes it’s an unexpected bill or expense. Whatever the reason, an Arranged Overdraft is a convenient type of short-term borrowing that can provide a safety net on your current account.


What you should know

An Arranged Overdraft 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.

An Unarranged Overdraft is when you spend more money than you have in your account without  already having an Arranged Overdraft, or when you exceed your current Arranged Overdraft limit.

If you go into an Unarranged Overdraft, we’ll charge you a fee on the amount you go overdrawn. We won’t charge you more than £80 in a monthly charging period for an Unarranged Overdraft or any unpaid transactions.


Charges for an Unarranged Overdraft


  • Unarranged Overdraft Usage fee (for Unarranged Overdraft of more than £10) is £8 per day, with a maximum of 9 per charging period
  • Unpaid transaction fee is £2.75, with a maximum of 1 per charging period
  • Monthly maximum charge is £80

Monthly cap on unarranged overdraft charges


Each current account has a monthly maximum charge for going into Unarranged Overdraft or going over your Arranged Overdraft limit.


This cap includes


  • Interest and fees for going over your Arranged Overdraft limit
  • Fees for each payment Ulster Bank allows despite lack of funds
  • Fees for each payment Ulster Bank refuses due to lack of funds
  • Please note: we don’t charge Unarranged Overdraft interest.                                                                                              

Both types cost money

Both types of overdrafts will cost you money in fees, but an unarranged overdraft will cost you more and might result in payments such as household bills being rejected.

Only pay interest and/or fees when you use it

You will be charged an Arranged Overdraft Usage Fee of £6 each month you utilise your arranged overdraft as well as Arranged overdraft interest.  


The rate of Arranged overdraft interest depends on your account type highlighted within the table.

If approved, your limit may be applied to your account the next working day

If you apply Monday to Thursday before 5.30pm.  Apply anytime after this and it will take up to two working days.                                                                                                   

Get an instant decision if you bank with us online.  

Apply via online banking or the mobile app and we'll pre-fill your application for you, as well as let you know if you have been pre-approved for an overdraft.  If you are not registered for Anytime Banking you can register now.

Have your statements at your fingertips

We'll send you an email when your statements are ready to view in Anytime Internet Banking. You can check it whenever you want.

Current Account  Interest free buffer  Arranged overdraft interest
Select Account  £10 19.89% EAR
Ufirstgold £250 19.89% EAR
Ufirst Private £500 14.89% EAR
Private Current Account £10 19.89% EAR

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. 

Apply online

You can apply online between 06:00 and 21:45.

How your information might be used

It’s important for you to understand how we use and share your information.  Please read this short summary before you continue with your application.

By ticking this box I confirm that:

I have saved and/or printed a copy of the documents below and accept that upon completing this application, I will become bound by the terms contained in those documents.

Your Current Account Terms

Your Overdraft Charges 

Our Lending Commitments 

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