Overdraft limit reduction plan

A reduction plan can last for up to four years. If the reduction amount and frequency you choose would take longer than this, we’ll automatically cap the plan at four years. 

You can choose how often your limit reduces, based on a frequency that suits you.

In the mobile app, reductions are currently available on a monthly basis, as this is the option most commonly chosen by customers. You’ll also be able to choose from other reduction frequency options if you apply using our online form.

The minimum reduction amount is £5, and you can reduce your limit by up to the full amount of your overdraft. You can choose an amount that’s suitable for you.

Your first reduction will usually happen within five working days, but it could be sooner. We’ll send you an email to confirm when your first reduction will take place and how often future reductions will happen.

If a scheduled reduction falls on a weekend or bank holiday, we’ll make the reduction on the next working day.

Yes. You can reduce your limit in one go, as long as you have enough money in your account and you’re not currently in a debit (overdrawn) position.

You’ll need to make sure there’s enough money in your account before each scheduled reduction.  If there isn’t, we’ll try again two working days later. If there’s still not enough money, your reduction plan will end.

You’ll receive reminders if you’re on a monthly or four‑weekly reduction plan. For other frequencies, reminders aren’t sent.

No, this plan isn’t reported to credit reference agencies. Reducing your overdraft limit may help you manage your account more effectively, which could have a positive impact on your credit file over time.

Reducing your limit can help you manage your borrowing in smaller steps and may reduce the amount of overdraft interest you’re charged.

If you later decide you need a higher limit, you can apply through the mobile app or alternatively, you can apply on this webpage.