What is an overdraft?
Eligibility and exclusions
Benefits and scenarios
Things you can use to secure the finance
Is an overdraft a good fit for you?
An overdraft is like a safety net provided by a bank. It allows you
to spend a little more money than you have in your account, so
long as you can pay it back later.
It's often a helpful way to handle small, temporary financial gaps,
but it's important to be cautious and not rely on it for long-term funding.
Overdrafts are usually quick and easy to apply for and can
help you access cash quickly when you need it most.
You’re also only allowed to borrow up to a certain limit which
means you don’t have to take out a large loan all at once. It’s
also flexible and doesn’t tie you down to a long-term loan.
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