- Check the balance on your accounts frequently you learn how a lot you may have invested.
- Try not to 'live' in your overdraft and aim to keep the account in credit when possible.
- Overdrafts tend to be repayable on requirements. This means a lender can request you to spend the whole levels back in one go as long as they elect to.
Variations since April 2020
Banking companies and building societies can't charge more for an unauthorised overdraft than they demand for an authorised overdraft.
These are typically also known as 'payday financial loans' because they're supposed to be short term financing and intended to be reimbursed when you then see their wages or positive.