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.
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