To reduce or cancel your arranged overdraft, speak with your Relationship Manager. You can’t request that the arranged overdraft limit is reduced lower than the current debit balance or that the limit be cancelled if the accounts in a debit position.
Fees and interest rates
Interest is charged on the full debit balance of your account/s. Interest is calculated on a daily basis and is charged on your agreed charging dates. You’ll be notified of the interest amount payable before it’s charged to your account.
Where you have more than one account linked to your overdraft limit, your debit balance is the net balance across the linked accounts. We’ll deduct the total cleared credit balances from the total debit balances across the linked accounts. If the net balance is in credit, the net debit balance will be treated as zero. This won't impact the interest payable on any account in a debit position, as interest isn’t calculated on a net basis unless we have specifically agreed this arrangement with you. If the balance on a current account linked to your overdraft isn’t in sterling, we’ll use the HSBC Exchange Rate Mid-Point to calculate the net balance into sterling. This is the mid-point between the relevant ‘buying’ rate and ‘selling’ rate of the HSBC Exchange Rate. You can ask us at any time what this is.
