overdraft charges

[BobbyBobBob]

If you were a member of Natwest and had an over draft of 2500, would you be charged a massive amount for going about 400 into the overdraft. bearing in mind the person involved gets paid weekly so it would eventually get paid back. I know its probably best to go to the bank and ask but I just wanted to know if anybody else has had similar situations to the one mentioned above and if so did they get charged alot?

thanks guys/

[R1Geezer]

You should not be charged at all if it's an arranged overdraft, well a small amount of interest. Can you clarify, is this an arranged overdraft of �2500? or are you talking about taking out �400 beyond this?

[BobbyBobBob]

sorry, I realise I didnt quite make that clear enough. Its an arranged overdraft of �2500. The person involved is currently still in the green and not even into their overdraft atall. It wouldnt be taking out �400 beyond the �2500, it would just be going into it.

thanks

[BobbyBobBob]

think its an arranged overdraft anyway, it just says I am eligible for an overdraft limit of �2500.

[CheekyChops]

Well I've got an OD with NatWest of �600 and am always up to the limit, I get charged about �8 per month in interest.

[R1Geezer]

as long as they are within the agreed limit it should be interest only then.

[Nosha123]

an overdraft is meant to be one of the more expensive forms of 'credit' but when you say you may be charged a massive amount - then my understanding is no you shouldnt.
You will be charged heavily if you go beyond the agreed limit and also will receive charges for items not paid.

We have a �1500 overdraft limit on our joint account and it is used towards the end of each month - its only a few pounds in charges... since it is 'agreed borrowing' unagreed borrowing is the one that costs!!!