Common use of Arranged Overdrafts Clause in Contracts

Arranged Overdrafts. a) You can talk to us about requesting an Arranged Overdraft, during or at any point after opening an account with us. If you are an existing customer you can request an increase to or a reduction of an existing Arranged Overdraft limit by talking to us in branch, via Online Bank or over the phone. After reviewing your request, we may either: i) agree to your request; ii) offer you a different Arranged Overdraft than the amount you request; or iii) refuse your request. b) When you request an Arranged Overdraft, we will tell you how long it is likely to take for us to process your request. If we agree to give you an Arranged Overdraft, we will tell you when the Arranged Overdraft will become available to you. Depending on your particular account, interest may be payable by you at the Arranged Overdraft rate on any money you borrow by way of an Arranged Overdraft. Please see the Key Facts Document for details on whether the Arranged Overdraft rate applies to your particular type of account. c) Depending on your particular account, an Annual Fee may be payable by you for every year in which you are given an Arranged Overdraft or in which you continue to use an existing Arranged Overdraft. Please see the Key Facts Document for details on whether an Annual Fee applies to your particular type of account. Please note that if we agree to your request to increase your Arranged Overdraft limit, we will treat this as a new Arranged Overdraft and you will have to pay another Annual Fee.

Arranged Overdrafts. a) You can talk If you want to borrow from us about requesting using your account, you must apply for an Arranged Overdraftarranged overdraft. This allows you to borrow up to an agreed limit. Whether we agree to lend you money depends on your financial situation. If we do agree, during or at any point after opening an account with uswe’ll tell you the limits and interest rate in a letter that contains the terms of the arranged overdraft. This is called a facility letter. If you are have an existing customer arranged overdraft that you can request an increase to or haven’t used for a reduction certain period of an existing Arranged Overdraft limit by talking to us in branch, via Online Bank or over the phone. After reviewing your requesttime, we may either: i) agree end the facility and, if we do so, we’ll write to tell you. Unarranged overdrafts It may be that a payment instruction or us taking an amount from your request; ii) offer account would result, without prior arrangement, in the account becoming overdrawn, or the agreed overdraft limit being exceeded. If so, we may in our sole discretion and without contacting you, allow an overdraft to be created or allow the agreed overdraft limit to be exceeded. In these circumstances, the new or excess overdraft is an unarranged overdraft and you a different Arranged Overdraft than will be charged at the applicable rate for unarranged borrowing. For details of our unarranged borrowing rate please see the tariff or price plan for your account. It can vary like all other terms under this agreement. Overdrafts are repayable on demand. This means we can ask for immediate repayment although we’ll usually give you advance notice for any arranged overdraft. Repaying what you borrow When we deduct fees and charges from your account, they reduce your balance or form part of the amount you request; or iii) refuse your request. b) owe us. When you request an Arranged Overdraft, we will tell you how long it is likely to take for us to process put money into your request. If we agree to give you an Arranged Overdraft, we will tell you when the Arranged Overdraft will become available to you. Depending on your particular account, interest may be payable by we’ll use it to repay any amounts you at the Arranged Overdraft rate on any money you borrow by way of an Arranged Overdraftowe us. Please see the Key Facts Document for details on whether the Arranged Overdraft rate applies to your particular type of accountWe do this in a set order. c) Depending on your particular account, an Annual Fee may be payable by you for every year in which you are given an Arranged Overdraft or in which you continue to use an existing Arranged Overdraft. Please see the Key Facts Document for details on whether an Annual Fee applies to your particular type of account. Please note that if we agree to your request to increase your Arranged Overdraft limit, we will treat this as a new Arranged Overdraft and you will have to pay another Annual Fee.