Cheaper than many high street banks to use your debit card abroad
No interest paid on credit balances
What is an authorised overdraft?
An overdraft occurs when you spend more than you have in your account. If this happens when you haven’t already agreed an overdraft facility, you’ll fund yourself using an unauthorised overdraft, which charge hefty fees. If you’re the kind of person that will regularly require an overdraft, you should look for an account with a low authorised overdraft fee.
How do we rank them?
The best bank accounts for authorised overdraft are ranked based on the lowest annual cost of operating an account with £600 overdrawn for seven days a month.
Moneywise Best Buys
It can be really difficult to choose the right product. However, we have conducted our own rigorous research and carefully selected the best deals out there. Unlike our competitors, we do not get paid to show you products from certain companies (only our featured product box is paid for by an advertiser). Instead, we have independently chosen the products we feel are the best in the market. Only if you decide to apply for a product using the “Go to site” button will Moneywise receive a small payment from the product provider, but this does not influence the way we rank products – our aim is quite simply to present you with the best products.
News, articles and guides on all things money related, from pensions and investments to savings and mortgages. Moneywise offers independent news and views, video and blogs as well as uniquely independent and interactive comparison services.