Santander OD charges

[Tobytyke]

Just been notified they are changing their o/d charges. My understanding is that they are going to charge you 50pence per day regardless of how much your are overdrawn. Surely this is reidiculous if you are only overdrawn by a few pence. We were thinking of closing our account anyway but this is the final straw. We are overdrawn by a little bit for the last week or two of the month. Usually we are charged 70 or 80 p

Just to inform others cos it is easy to throw T & C's in the bin

Surely it's only if you're OD over your limit?

OD charges often apply if you're within your agreed OD limit... they're just smaller than unauthorised borrowing. Usually, banks allow you the rest of the day to make a deposit if you accidentally go overdrawn and won't charge if you make a transfer in time. I check my online account daily and keep a few £s in a savings account that I can quickly transfer... possible solution?

No my understanding is it is like an interest charge for being o/d and not charges for being over your limit

Could you keep, say, £50 in a savings account and check your main account daily? It's annoying to get charged 50p for being a few pounds overdrawn but it's quite easy to mitigate if you're sharper with your housekeeping...