Business overdrafts for fast, short-term financing
Most businesses need an overdraft at some point for short-term financing. Our secured and unsecured business overdrafts are designed to meet these needs. And because interest is only payable on the amount you’re overdrawn, on the days you are overdrawn, it’s a clear, straightforward way to borrow. Talk to our team on 0845 607 0666. Details of our fees and charges can be found in the table below.
Why choose a business overdraft?
Please call 0845 607 0666 to arrange an overdraft on your Business Bank Account
Lines are open Monday to Friday 8am to 9pm and Saturdays 8am to 1pm
Please note: a business overdraft is only available on the Abbey Business Bank Account and not the Business Reserve Account.
An Advance Overdraft is a facility on our bank account that lets you borrow extra money when you don’t have enough. You must agree the limit with us beforehand. We will treat you as having asked for an Instant Overdraft if you make a payment which would cause your account to go overdrawn without an Advance Overdraft in place or cause your account to go over your existing Advance Overdraft limit. Different Service Fees and interest rates will apply and are shown below.
Overdraft fees and charges - free banking tariff
| Description | Charge |
| Advance Overdraft interest rate1 | 5.9% above base. Typical 6.40% EAR (variable) |
| Advance Overdraft annual commitment fee |
1% of facility, minimum £50 p.a. |
| Instant Overdraft interest rate2 | Typical 29.9% EAR (variable) |
|
Instant Overdraft monthly fee2 |
£15.00 |
| Charge for each debit transaction paid whilst in your Instant Overdraft2 |
£30.00 |
| Please note: an Instant Overdraft fee and interest may be incurred solely as a result of charges being debited in the previous month. |
|
1 Not available on Business Reserve Account.
2 These charges and all transaction charges will be notified to you at least 14 days before they are debited to your account.
3 These charges will be applied at the time they are incurred.
Advance Overdrafts are only available on bank accounts opened since 2 Jan 2002.
All overdraft interest rates are variable.
We may vary existing charges or introduce new charges. If this happens, we will let you know at least 60 days in advance.
Please be aware that we may require a charge on your property to secure an overdraft.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
These products are available to businesses with a turnover of £1 million or less.
Abbey National plc. Registered Office: Abbey National House, 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England. Telephone 0870 607 6000. Calls may be recorded or monitored. Authorised and regulated by the Financial Services Authority. FSA registration number 106054. Abbey and the flame logo are registered trademarks.
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