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Arranged overdrafts
See the estimated overdraft limit you could be eligible for
How does our overdraft compare?
An overdraft is designed as short-term way to borrow money. If you decide to use an overdraft, you're responsible for paying it back. If you're unable to repay, your credit score could be impacted. Most lenders will use your credit score when deciding how much to lend you.
To apply for an overdraft:
- You must be 18+ and live in the UK.
- You must have an eligible Ulster bank account which you pay your salary or a regular amount into.
- You, or anyone on your account, must not have been declared bankrupt in the last 6 years.
Please note: if you apply on a joint account, we will only assess the eligibility of the person applying.
Benefits of an arranged overdraft
An arranged overdraft allows you to go overdrawn from £250 up to £5000, with an agreed limit, so it could help cover an unplanned expense. Think of it as a short-term safety net for your current account.
Only pay interest if you use it
Quick access to funds
It takes about 5 minutes to apply in Anytime Banking or the mobile app (app eligibility applies)
Manage my existing overdraft
You can make changes to your arranged overdraft in our mobile app or via Anytime Banking. Here's what you need to know.
How do overdraft costs work?
Overdraft costs OpenClose
Arranged overdraft charges
We don’t charge fees for using an arranged overdraft – we only charge interest on the amount of overdraft you use. The interest you pay depends on the type of current account you have with us.
Further costs details OpenClose
Returned Payments
An Unpaid Transaction Fee of £1.55 is charged for a transaction that we return unpaid. A transaction (e.g. a Direct Debit) will be returned if the payment cannot be met from funds in your account or any unused arranged overdraft facility and we decide in our discretion not to make the payment.
Types of overdrafts OpenClose
What is an arranged overdraft?
An arranged overdraft is when we agree to a limit that lets you spend a bit more money than you have in your current account. This could help you manage your money if you have to cover short-term expenses such as an unexpected bill.
What is an unarranged overdraft?
An unarranged overdraft is when you spend more money than you have and you haven’t previously arranged an overdraft limit with us, or you have exceeded your existing overdraft limit.
How much does my overdraft cost in pounds and pence?
Choose your current account to view the interest costs when you use a £500 overdraft.
See how much interest you might pay
Use our overdraft cost calculator to see how much interest you’d pay based on your own circumstances and borrowing amount.
Ready to apply? Okay, let's start by checking your eligibility...
Please take your time to read this page and decide if an overdraft is right for you. Unsure? Try our borrowing options tool.
We'll start by checking your eligibility – this won't hurt your credit score
It's then up to you if you want to go ahead.
Got a joint account? We'll only check the eligibility of the person who applies.
To apply for a new overdraft, or increase an existing overdraft, you must:
- Be 18+ and live in the UK.
- Have an eligible Ulster Bank, bank account and pay a regular amount, like a salary, into it.
- Not have been bankrupt in the last 6 years. (Got a joint account? They must not have been bankrupt in the last 6 years either.)
All good? Here's a bit more info to read: