smilemore customers pay diddly squat in interest on the first £260 of a 12 month, fee free £500 overdraft. The next £240 only costs you 11.9% EAR. And if you want more than £500 just apply in internet banking.

Our overdraft facilities are subject to an annual review.

You can request an overdraft or an increase to an existing overdraft either formally or informally.

Formally – you can request our overdraft services in advance and if we agree to your request we will tell you your overdraft limit and confirm the terms of the overdraft in writing.

Informally – if you have not formally requested our overdraft services as above, you may still request our overdraft services by undertaking a payment or withdrawal from your account, even though no overdraft limit has been agreed or where the payment or withdrawal would cause you to exceed any agreed overdraft limit.

See below for details of overdraft Account Charges…

Free overdraft service – interest and charges free zone You can go overdrawn up to £260 at any time in a month without incurring interest or charges.
Debit interest rate Formal overdraft service over £260. Informal overdraft service.	0.95% per month 11.9% EAR* 1.24% per month 15.9% EAR*
Formal overdraft service charge (When we have agreed or renewed a formal limit with you in advance over £500†).	£20.00
Informal overdraft service charges Monthly service charge (When you have overdrawn or have exceeded an existing overdraft limit without having agreed with us in advance you will incur a monthly service charge). Daily service charge (Each subsequent day your informal overdraft increases you will incur a daily service charge.)	£20.00 £20.00
Unpaid items This charge may be applied if cheques, standing orders or Direct Debits cannot be paid due to lack of funds.	£30.00
Waiver We will not charge you any informal overdraft service charges or unpaid item charges for informal overdrafts that last 6 consecutive working days or less (or for any informal overdraft requests that we do not agree) providing that you had not requested an informal overdraft in the previous 366 days.
Quarterly Cap We will not charge you more than a total of £150 of informal overdraft service charges and unpaid item charges per quarter (a quarter being a group of three charging periods starting in January, April, July or October). If we agree to refund any previously charged informal overdraft service charges or unpaid item charges during a given quarter then the £150 will increase by the amount of those refunded charges.
Charging period The charging period used for interest, commission and charges is 5th of month one to 4th of month two. Please note the dates may vary when they do not fall on working days.