Compare Overdraft Costs

Apply for an Arranged Overdraft

If you use your Arranged Overdraft you will have to pay interest and fees, this will depend on your current account type. 

Select your account type below to get information on the cost of an Arranged Overdraft for your account type:

Select Account

Select Account

Interest Free Threshold Monthly Arranged Overdraft Usage Fee Nominal 
Monthly Rate %
Nominal 
Annual Rate %
EAR %
£10 £6 1.52% 18.28% 19.89%
Representative Example: If you have a Select Account with an arranged overdraft limit of £1,200 and you use all of this, you will be charged arranged overdraft interest at 19.89% EAR (variable) and a monthly Arranged Overdraft Usage Fee of £6.
Ufirstgold

Ufirstgold

Interest Free Threshold Monthly Arranged Overdraft Usage Fee Nominal 
Monthly Rate %
Nominal 
Annual Rate %
EAR %
£250 £6 1.52% 18.28% 19.89%
Representative Example: If you have a Ufirstgold Account with an arranged overdraft limit of £1,200 and you use all of this, you will be charged arranged overdraft interest at 19.89% EAR (variable) and a monthly Arranged Overdraft Usage Fee of £6.
Ufirst Private

Ufirst Private

Interest Free Threshold Monthly Arranged Overdraft Usage Fee Nominal 
Monthly Rate %
Nominal 
Annual Rate %
EAR %
£500 £6 1.16% 13.96% 14.89%
Representative Example: If you have a Ufirst Private Account with an arranged overdraft limit of £1,200 and you use all of this, you will be charged arranged overdraft interest at 14.89% EAR (variable) and a monthly Arranged Overdraft Usage Fee of £6.
Private Current Account

Private Current Account

Interest Free Threshold Monthly Arranged Overdraft Usage Fee Nominal 
Monthly Rate %
Nominal 
Annual Rate %
EAR %
£10 £6 1.52% 18.28% 19.89%
Representative Example: If you have a Private Current Account with an arranged overdraft limit of £1,200 and you use all of this, you will be charged arranged overdraft interest at 19.89% EAR (variable) and a monthly Arranged Overdraft Usage Fee of £6.

What is an Unarranged Overdraft?

When you spend more money than you have in your current account and haven't agreed an Arranged Overdraft limit beforehand, or gone over your existing Arranged Overdraft.

What are the fees that I would be charged for using an Unarranged Overdraft?

There are two types of fees you may be charged if you enter an Unarranged Overdraft:

Unarranged Overdraft Usage Fee

This is a daily fee Ulster Bank charge if you use an Unarranged Overdraft by more than a certain amount, that amount is typically £10.

Unpaid Transaction Fee

Ulster Bank may decide not to pay some transactions if you are already in an Unarranged Overdraft, or, if the outgoing transactions would make you enter an Unarranged Overdraft.

We won’t charge you more than £80 in a monthly charging period for an unarranged overdraft or any unpaid transactions.

Unarranged borrowing fees explained

Fee Amount  Maximum number of fees per charging period 
Unarranged Overdraft Usage Fee (for Unarranged Overdrafts of more than £10) £8 per day 9
Unpaid Transaction Fee  £8  1
Monthly Maximum Charge £80  

 

More on the Monthly Maximum Charge

Monthly cap on unarranged overdraft charges

1. Each current account will set a monthly maximum charge for:

  • going overdrawn when you have not arranged an overdraft; or
  • going over/past your arranged overdraft limit (if you have one).

2. This cap covers any:

  • interest and fees for going over/past your arranged overdraft limit;
  • fees for each payment your bank allows despite lack of funds; and
  • fees for each payment your bank refuses due to lack of funds. 
This is a standard definition of the monthly maximum charge but please note that we don’t charge unarranged overdraft interest.
Charging Scenarios - developed with the Office of Fair Trading

Overdrafts and bank charges

If you use the current accounts listed in the table below to make payments when:

  • you do not have enough money in your account and have not agreed a formal overdraft limit with us; or
  • the payment takes you over your arranged overdraft limit. 

You may have to pay charges as a result.

The table below gives some examples of our charges for making payments from your account when you haven’t enough money.

We developed these examples with the Office of Fair Trading and leading consumer groups to help you to think about how changing the way you use your account can affect the amount we may charge you.

These examples are meant to show how different actions can result in different charges. They are only examples so you shouldn’t see them as actions you might take and charges you might have to pay.

We may not allow you to use your account in the ways shown below. You should avoid going overdrawn wherever possible and you should contact us if you need help to manage your account.

We could add other charges and interest to your account if you try to make payments when you do not have enough money. For details of all the charges and interest rates for these accounts, please see above.

Choose an example below which shows how you might manage your current account. If you have recent bank statements, use these to help you choose. Once you have worked out reasons why you might be charged, it could help you to avoid charges in future.

 

 

Reasons that you might be charged
Select, Ufirst Gold, Ufirst Private, Private Current, Current, Graduate
Student Account 
Foundation Account
    Charge Charge Charge
  We refuse a payment from your account because there is not enough money in your account. £8.00 £8.00 £0
  The payment takes you over  over your arranged overdraft limit, you may have to pay charges as a result. £0 £0 £0
  A payment from your account takes you into an unarranged overdraft and you make another payment from the account while you are overdrawn. You are overdrawn for two days in a row during the month. £16.00 £0 £0
  A payment from your account takes you into an unarranged overdraft, and you make nine more payments from the account while you are overdrawn. You are overdrawn for 10 days in a row during the month. £72.00 £0 £0
  A payment from your account takes you into an unarranged overdraft. You are overdrawn for one day. However, on three more occasions during the month, a payment takes you into an unarranged overdraft. On each of these occasions you are overdrawn for three days in a row. £72.00 £0 £0
  A payment from your account takes you into an unarranged overdraft. You are overdrawn for 21 days in a row during the month and you make 12 more payments from the account while you are overdrawn. £72.00 £0 £0

For further information about the underlying transactions used to calculate these scenarios, please visit: www.consumerdirect.gov.uk.

Buffer limit or interest free threshold

Some of our current accounts have a buffer limit, or an interest free threshold

If you stay within the limit for your account type below you won't pay interest or fees.  

 

Type of Account  Interest free threshold
Select & Private Account £10
Ufirstgold £250
Ufirst Private £500
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