Best bank accounts for unauthorised overdrafts

Bank accounts

Best bank accounts for unauthorised overdrafts

By Chiara Cavaglieri

Article 4 of 6

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Best bank accounts for unauthorised overdrafts

Although you probably won't choose a bank account based on unauthorised overdraft charges, it can be useful to see which accounts are the cheapest.

Our table shows you the best bank accounts if you dip into unauthorised overdraft. We assume that you make a payment that takes you into unauthorised overdraft. You then make a further payment while overdrawn and are overdrawn for two days in a row in a month. We show the monthly cost.

Unauthorised overdrafts are expensive and not a good option if you use them regularly. If you find yourself frequently making use of an unauthorised overdraft, contact your bank to see if it can arrange or extend an authorised overdraft.

You should be aware that these providers may not be the cheapest for larger and more persistent unauthorised overdrafts. We also compare the best bank accounts if you stay in credit and the best bank accounts for authorised overdrafts.

Find out more: How to deal with debt - a host of useful tips

Table notes

This table is updated on a daily basis.

  • a) No minimum monthly funding required.
  • b) Minimum monthly funding - £750
  • c) Minimum monthly funding - £1,000
  • d) Minimum monthly funding - £500

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Key:

  • Branch
  • Internet
  • Postal
  • Telephone

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Customer score

General public score based on customer satisfaction and likelihood of recommending company to friend/family member. Customer scores are based at brand level.

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Customer scores are based on a survey of an online panel of respondents from the general public who were invited to take part in the bank account customer satisfaction survey during January 2016. The final sample size was 5,939.

Unauthorised overdrafts are expensive and not a good option if you use them regularly. If you find yourself frequently making use of an unauthorised overdraft, contact your bank to see if it can arrange or extend an authorised overdraft.

How we choose our Best Rate bank accounts

Which? Best Rate bank accounts offer the best rates on the market for the scenarios we've used. They also have to meet the following conditions:

  • The accounts must be available nationally.
  • The account provider must be fully covered by the Financial Services Compensation Scheme.

We analyse the whole market and calculate the cost of the account so you can see how much you're likely to pay or how much interest you'll earn if you choose that account. 

Which? Recommended Providers 

Which? Recommended Providers are companies that are both rated highly and have products that meet the high standards of our researchers. Which? closely monitors the products and practices of all Recommended Providers and reserves the right to exclude any company that does not treat its customers fairly. Follow the link for a full list of WRPs.

Which? Warning Poor Satisfaction

We also understand that for many people, finding products with the best rate is a priority. But where a product from a provider with a poor customer score appears in our Best Rate tables, we'll highlight this with the warning logo. Our customer satisfaction surveys measure overall satisfaction with the provider in relation to bank accounts, not individual bank accounts offered by the brand. The customer score should therefore not be associated specifically with any individual bank accounts. Only customer scores that are significantly below average and fall into our bottom statistical tier receive our warning. Our customer scores are updated every six months.

By naming and shaming providers which customers judge to offer poor satisfaction in these tables, we hope that companies improve their standards.