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Reward payments,
interest and account fees
This leaflet explains the current interest rates, reward payments and account fees. Please keep it in a safe
place so you can read it when you need to.
What can I do to keep overdraft fees as low as possible?
• Repay any overdraft as soon as you can.
• Ask us about arranging an overdraft (if your account allows you to have one) as our fees are lower
for planned overdrafts than unplanned.
• Check your available balance on the internet, by phone or through a cash machine to make sure you’ve
enough money in your account to pay everything due. The money in your account must be available to
withdraw – for example, you must wait for any cheques you’ve paid into your account to be available.
• Keep a record of any cheques you write and when they have been paid, so that you know how much
money is left in your account. Someone can pay a cheque into their account up to six months after
you’ve written it.
• Check your statements and make a list of the dates of your direct debits, standing orders and other
regular payments – for example, mortgage, loan or rent.
• If a direct debit payment is due at a difficult time in the month for you – for example, just before you
get paid – contact the company and ask them if they’ll collect it at a more convenient time.
• If you have fees to pay, remember to include them in your budget.
• If you have an Ultimate Reward Current Account, Reward Current Account or Current Account and
go into overdraft in the course of a day, make sure you repay your overdraft by the end of the day to
avoid paying the daily fee for that day.
Keep an eye on your balance and keep your overdraft fees as low as possible.
Direct debits, standing orders, cheques and debit cards all make life easier. Making sure you’ve
enough money in your account to cover these payments will help you to keep overdraft fees as low
as possible.
If you bank online with us, you can transfer money from other accounts up to midnight to avoid
daily fees or debit interest for that day. For other amounts you pay into your account – for example,
cheques or payments made at a cash machine – you’ll need to allow time for the money to reach
your account. For cheques this can take several days.
It’s easy to check your account balance. You can do it 24 hours a day online, by phone or from a
cash machine. Or call into one of our branches during normal working hours.
If you have money in your bank account (a credit balance), or pay in £1,000 or more each calendar month,
we may pay either credit interest or a reward payment depending on the type of account you have.