How much is this going to cost me?

[TooNice]

I overdrew by just under £170 for 3.5 hours. First time this ever happened to me, I had forgotten that today was the 1st (i.e. bills to be paid), and had a fairly large additional non-recurring payment which exceeded how much I had left in my current account.

Now I shouldn't be charged any fees since I did not exceed my agreed overdraft, but there is that 15.9% EAR. I am not sure how banks normally calculate those interests. Are interest overdraft calculated by days? Or a whole month ()?

Cheers.

[McClane]

Normally if it's your first time going overdrawn you can talk them out of charging you. I've never had to do this but I know a few people that have. I guess it depends on the bank though.

[kalniel]

Depends on the bank - but mine don't totty up balances until the end of the day, so I can be overdrawn for 23 hours without a problem, as long as the balance is +ve at the end of the day

[schmunk]

depends on the bank - but mine don't totty up balances until the end of the day, so i can be overdrawn for 23 hours without a problem, as long as the balance is +ve at the end of the day

+1

[BlackDwarf]

I work for Lloyds TSB, in Collections, and charges won't have been added for being in UOD for such a short space of time. So unless any direct debits were attempted while OD, you should have to pay anything.

[Bluecube]

I'm with HSBC and have been overdrawn by small amounts for a few days without incurring charges so you could end up lucky. Most banks now seem to be using a common sense approach to overdrafts since they were sued for excessive charges.

[Zak33]

Depends on the bank - but mine don't totty up balances until the end of the day, so I can be overdrawn for 23 hours without a problem, as long as the balance is +ve at the end of the day

same for me

+1