If you try to make a payment from your account and there is not enough money in the account or enough of an overdraft limit available, you will be charged the following. We will tell you about these charges by sending you a pre-notification of charges pack at least 14 days before we take them from your account.
These charges will not occur on the Basic Cash Account, Student account (11-19 years) and Student Account 3rd Level.
| Name of the charge | When we make the charge | Charge |
|---|---|---|
| Unpaid transaction fee | We refuse a payment from your account due to lack of funds (or it would take you past your arranged overdraft limit). We charge you for each payment item we refuse to pay and this will be charged monthly. | £1.50 for each item we refuse to pay and this will be charged monthly. We will tell you about this charge before it is charged. |
Monthly cap on unarranged overdraft charges
1. Each current account will set a monthly maximum charge for:
(a) going overdrawn when you have not arranged an overdraft; or
(b) going over/past your arranged overdraft limit (if you have one).
2. This cap covers any:
(a) interest and fees for going over/past your arranged overdraft limit;
(b) fees for each payment your bank allows despite lack of funds; and
(c) fees for each payment your bank refuses due to lack of funds.
The maximum monthly charge which caps the amount of money we can charge you in unarranged overdraft fees and interest in any given month is £30.
Click here for the interest rates charged.
Our overdraft interest rates are made of two parts: the Bank of Ireland UK base rate which from 4 August 2023 is 5.25% and a margin rate. The interest rate is variable and will change if either part changes. We publish our base rate on our website, in our branches and on your account statement. Any changes to the base rate or any decrease in the margin rate will normally take effect immediately. If we increase the margin rate we’ll give you 60 days’ notice.