Everything You Need to Know About Unauthorised Overdrafts

At some point, many of us have or will have used an overdraft, either as a financial safety net or to lend us a helping hand when an unexpected outgoing arises. This can be very helpful to ensure those unplanned bills are covered.

 

However, dipping into an unarranged overdraft can have costly consequences.

Did you know that dipping into an unauthorised overdraft could incur a number of fees from debit interest, transaction fees to monthly and even daily fees? Usually these fees and charges combined can mean finding yourself in more debt than anticipated, which you may later find more difficult to get out of.

According to Sunny, the consistent use of an unauthorised overdraft can negatively impact your credit score which could affect your chances of getting a mortgage, credit card or loan in the future.

Learning to manage your money is crucial, particularly when it comes to avoiding unauthorised overdrafts and all of the potential consequences that come with it.

Discover more about unauthorised overdrafts and exactly what charges you could face for spilling over into an unarranged overdraft. This handy guide is full of tips and tricks that will help you avoid any money mishaps.

Are you a savvy saver
Provided by Sunny Loans

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