An unarranged overdraft may result in declined transactions. The calculator below will help you work out how much you could be charged for overdraft use with our temporary support in place. All 50 of its university branches will be shut. Interest is calculated daily and will usually come out of your account once a month. If there happens to be a planned rate change during the period you specified the calculation will reflect that. It said: 'We're receiving far more calls than usual, so our wait times are longer. Current Page. Cookie Policy. Banks told This is Money that they would remain open as much as possible, but that social distancing measures may lead to people having to wait outside. First direct customers that have a £250 fee-free overdraft won’t be affected unless they go over that amount, and interest will soar from 15.9% to 39.9% EAR. You'll need to open a Current Account with us. Lloyds said that demand for physical banking was down and it expected that would remain the case. By our calculations borrowing £500 (£250 over the fee-free amount) with an arranged overdraft for 30 days would cost £8.19 with the new rate compared with £3.27 under the current rate. The amount borrowed is taken in full at noon on the date of the calculation. She told the Times: 'The self-employed, those who are away from work due to illness or isolation, or those waiting for benefit payments, will all need help. Interest is calculated daily and will usually come out of your account once a month. Here are a few reminders to help keep you safe: It said there will be a two-metre distance rule between staff and customers, while the number of people in branches will be restricted. Visit our charges page for more information about overdraft fees. The text alerts are sent to give you time to pay money (not a cheque) into your account before the end of the day - by 11.45pm. HSBC raised its overdraft charges to 39.9 per cent on March 14, up from 9.9 per cent for premium arranged overdrafts and 19.9 per cent for standard ones. 39.9% EAR variable on anything above £250 (assumed overdraft £1,200). The firm also found that the major banks have put rates on three-year loans of £5,000 up from 7.6 per cent to 7.8 per cent on average since December. Its website said other branches will 'continue' to open, but told customers only to visit if they are not showing any symptoms of coronavirus. The figures in this tool are to give you a good indication, any overdraft limit you require will need to be agreed with us. But if you find yourself dipping in and out of it too often, then perhaps re-think your plans. It said these reduced hours 'vary branch by branch as they have to react to localised issues', so customers must check their local branch is operating using its branch finder. Member HSBC Group. Personal accounts. (b) going over/past your arranged overdraft limit (if you have one). We’ll always consider an unarranged request and will make the payment if we can, subject to status. Find out more and join us today. If you choose to opt out of text alerts, this will apply to all personal current accounts you hold with first direct. You can see these in detail at the bottom of the page. We share information about how you use your account with credit reference agencies. Home Find out more here. The Financial Services Compensation Scheme protects savings and current account balances of up to £85,000 per person in each individually UK licensed bank or building society. Give us a call on 03 456 100 100. first direct is a division of HSBC UK Bank plc. If in doubt ask your bank. This would be updated on its branch finder and posters would be displayed outside. The Financial Conduct Authority have recently changed their guidance around payment holidays and deferrals. 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