What happens if my transaction account is overdrawn or I go over my overdraft limit?

If your account has no limit and you go into an unarranged overdraft, you’ll be charged overdrawn debit interest of 19.95% p.a. on the overdrawn balance. Interest is calculated daily and will be charged to your account on the last day of the month. A fee of $9 may also be charged at the end of each calendar month you’re overdrawn.

If your account has a limit and you exceed it, you’ll be charged overdrawn debit interest at your overdraft interest rate on the overdrawn balance. Interest is calculated daily and will be charged to your account on the last day of the month.

Transactions may also be declined while you’re overdrawn which may mean you can’t access funds when you need them.

If you’re struggling with staying within your limit, the best thing to do is act early - talk to us as soon possible. We’re available on 0800 772 771 weekdays 8am to 6pm.