When are fees, charges and interest applied to my accounts?
Overdraft interest is calculated on the daily statement balance and charged to your personal current account monthly.
- Reserve Usage Fees are incurred on the day on which you go into your Personal Reserve and applied to your account monthly. We will write to you each time you incur a Reserve Usage Fee and will tell you the value of the fee(s) incurred.
- Returned Transaction Fees are incurred the day an item is returned and applied to your account monthly. We will write to you each time you incur a Returned Transaction Fee and will tell you the value of the fee(s) incurred.
- Guaranteed Transaction Fees are incurred the day an item is paid and applied to your account monthly. We will write to you each time you incur a Guaranteed Transaction Fee and will tell you the value of the fee(s) incurred.
- We will give you at least 14 days’ advance notice on your statement of the total of any overdraft interest, Reserve Usage Fees, Returned Transaction Fees and Guaranteed Transaction Fees to be debited from your account.
- We work out the monthly charging period from the date you select for your statement frequency. The monthly charging period always closes two days before the statement issue date.
