Personal
Current accounts
Overdrafts
Manage your overdraft

Existing customers

Manage your overdraft

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Find out about your interest charges Open in new window

Overdraft cost calculator Open in new window

Guide and FAQ Open in new window

Make changes to my overdraft Open in new window

Find out about your interest charges

The 'My Overdraft' feature lets you easily see and track your interest charges, helping you keep on top of how much your overdraft costs. It also helps you understand when interest charges will be debited and how you can manage your overdraft.

Know:

How much your interest is adding up to, as you spend on your overdraft

How does knowing this help me?

You’re charged interest on the days you use your overdraft.
Your charges will update overnight.
You can track how much your overdraft costs to help with decisions.

Information Message

Check:

Your charging period dates, of when interest can add up

How does knowing this help me?

Your charging period may not run in a calendar month because it’s based on when you get your current account statement.
You can see when any charges are due to come out of your account.

Information Message

Prepare:

Check the date the final interest charge will be taken out your account

How does knowing this help me?

You may have charges taken out during a month when you’re not using your overdraft, because they’re for the previous period.
You can see when charges due to come out in the app.
You’ll also get a pre-notification statement of interest and charges sent to your app mailbox under your Profile.

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How to find the ‘My Overdraft' feature

Anytime Banking

To find the ‘My Overdraft’ feature you need to:

Log into Anytime Banking
Select the ‘More’ option next to ‘View transactions’. Then select ‘View overdraft’
You will then be able to view your monthly interest charges so far.

Information Message

Anytime Banking available to customers aged 11+ with an eligible Ulster Bank Northern Ireland account.

Mobile app

To find the ‘My Overdraft’ feature you need to:

Open the Ulster Bank app and click on your chosen current account.
Select 'My Overdraft' and 'View current interest charges'
You will then be able to view your monthly interest charges so far.

Information Message

App available to personal and business customers aged 11+ using compatible iOS and Android devices and a UK or international mobile number in specific countries.

Download the app Open in new window

Want to work out how much using your overdraft costs?

Use our overdraft cost calculator to estimate how much interest you’d pay, based on your own circumstances and borrowing amount. The overdraft cost calculator can also be accessed via the 'My overdraft' section in the mobile app.

Overdraft cost calculator Open in new window

Make changes to my overdraft

You can make changes to your arranged overdraft in our mobile app or via Anytime Banking. Here's what you need to know.

Increasing my limit

When applying to increase your limit, tell us what you want your new overdraft limit to be, not the amount you want to increase it by.

Remember, increasing your limit is recorded on your credit file and could affect your ability to get credit in the future.

Subject to status

Reducing my limit

The minimum overdraft limit you can have is £250. So if your current limit is lower than £250, you won't be able to reduce it anymore.

Keep in mind that if you reduce your overdraft too much, you might go into an unarranged overdraft.

Removing my limit

If your overdraft sits there being idle and you don't want it anymore it's simple to cancel.

You will just need to complete the online application form.

When will my new limit be available?

If you complete your request and it's approved Mon - Thurs before 5:30pm, your new limit will be available the next working day. Outside of these times, it will take up to 2 working days.

Make changes to my overdraft Open in new window

Check your understanding of overdrafts

An arranged overdraft lets you borrow extra money through your current account. For example, if you have no money left in your account and you spend £30, your balance would be -£30. This means you’re using an overdraft.

There is no fee for having an overdraft, you simply get charged interest for how much you use and how long you use your overdraft for.

If you have an overdraft but do not use it, then you will not be charged for it.

Want to learn more about overdrafts

We'll help you understand the basics of how overdrafts work.

See our overdrafts guide Open in new window

Useful overdraft information

What’s the difference between an arranged and unarranged overdraft?

An arranged overdraft lets you spend more money than you have in your current account up to a limit that we agree to in advance. It’s there to use if you need it to help cover short-term expenses.

An unarranged overdraft happens when you spend more money than you have in your account without agreeing on it in advance. This includes going over the limit of an arranged overdraft.

How can I pay off my overdraft?

You can pay off an overdraft at any time, simply by ensuring you have a positive balance in your account.

Unlike loans and credit cards, overdrafts have no scheduled repayment dates. This can make paying off your overdraft a little trickier to manage.

We recommend setting targets of how much you want to pay off each month and factoring these targets into your budget.

Need help with budgeting? Have a read of our budgeting guide.

If you’re worried about your credit score, or your finances in general, you can schedule a financial health check with us.

Reducing your overdraft balance and limit will help you control how much your overdraft costs you. Support for regular users.

What are these interest charges, and how are they calculated?

You're charged interest for the days you're overdrawn, and it's worked out on how much of your overdraft you used on those days.

Interest is always calculated at the end of the business day, and you can keep track of your charges in your app, including what you owe by when.

Just a heads up, these charges don't include any current account fees or unpaid transaction fees.

How does my charging period work?

Your charging period is the timeframe where your interest charges build up. It may not follow a calendar month, it's based on when you get your current account statements. You're only charged interest for the days you're overdrawn in that period.

We debit your interest charges from your current account 21 days after the end of your charging period and show you in the app when they're due to come out.

Will using an overdraft affect my credit score?

Using an overdraft could affect your credit score if your account remains inside the overdraft limit for long periods and you don’t pay it back. However, if you pay off your overdraft regularly, this could actually help to improve your credit rating.

When you apply for an overdraft, or an increase to your existing overdraft, we do carry out a credit check which will be recorded on your credit file and could have an impact. Before applying, we recommend you use our eligibility checker to find out if you’re likely to be offered an overdraft. This check will be recorded on your credit file but will not have any impact.

To find out more about credit scoring, read our credit scoring guide.

If you’re worried about your credit score, or your finances in general, you can schedule a financial health check with us.

What is an unpaid transaction fee?

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. The monthly cap on unarranged overdraft charges for our standard adult current accounts is £18.80. This includes an unpaid transaction fee if applicable.