Overdrafts - Personal Banking | Ulster Bank



Important Customer Notice

Update on Ulster Bank Ireland DAC presence in the Republic of Ireland.

For more information please click here.

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A little breathing space when you need it

Open to Republic of Ireland residents, aged 18 or over with an eligible Ulster Bank current account. Lending is subject to credit review and approval.

What is an overdraft?

An arranged overdraft can give you access to extra funds in your current account when you run out of money unexpectedly. It is a set amount that we agree with you after you have successfully applied.

For example, if you have €30 in your current account and you have an overdraft limit of €100, you could then make a payment of up to €130.

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You only pay interest when you use your overdraft. Interest is charged on the amount you've borrowed at the stated rate for your account, as long as you're within your limit. Set up and annual renewal fees also apply.

How could an overdraft help?
Peace of mind

An overdraft provides you with breathing space when you need it. It can also help if an unexpected bill comes out of your account.

Borrow to suit you

Borrow up to a maximum of one month’s salary, subject to approval. For limits higher than €15k or temporary limits please contact your branch.

No unexpected costs

As long as you stay within your agreed limit, you only pay monthly interest on what you borrow. Set-up and annual renewal fees also apply.

Flexible limits

Remove your limit, or request an increase or decrease whenever you want. There’s no set amount to pay back each month, although interest charges will apply.

Fees and charges The need to knows

There are two fees you need to know about. Both of these fees are €25.

  • Overdraft set-up fee - paid when your overdraft is set up or your limit is increased
  • Annual overdraft fee - paid annually on the anniversary of the overdraft set-up date or the date a limit increase is applied
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If you spend more money than you have in your account, or go over your overdraft limit, this is called an unarranged overdraft. This could work out to be more expensive than using an arranged overdraft because of the charges involved.

For full details of the interest and charges please read  A guide to personal account fees and interest.

Helpful tips on how to avoid unarranged borrowing

Keeping an eye on your account

There are lots of ways to check your balance and stay within your limit.

Mobile Banking
Keep track of your money wherever you are with our secure and easy to use mobile app. More about our apps

Online banking
Check your balance, pay bills and make transfers 24/7 from the comfort of your home. More about online banking

Text Alerts
Alerts are a simple way to keep up-to-date with your accounts and avoid unnecessary charges. More about Text Alerts


Plan ahead

Knowing exactly where you stand with your money will help you to plan ahead and manage your outgoings.

  • Write down what money is coming in and what needs to go out each month
  • Set up standing orders and Direct Debits to pay your monthly bills
  • A good time for payments to leave your account is just after you’ve been paid
  • Book a personal finance review if you need help to organise your finances


Consider your options

Due to unforeseen circumstances and expenses, you may sometimes need flexibility with your borrowing. We have a range of borrowing options that could help.

Personal Loans
Longer term borrowing option where the interest rate is fixed from the outset so you know exactly what to budget for each month. Read more

Credit cards
Flexible and convenient way to borrow. Read more

Eligible accounts

Arranged overdrafts are available on the following accounts:
Current, Private, Current Plus*, ufirst*, ufirstgold*, ufirst Private, Student and Graduate Accounts.

Arranged overdrafts are not available on the following accounts:
Dual*, Service, Adapt, Facility* or Standard Accounts.

*These accounts are no longer available to new customers.

What if I have a student or graduate account?
Student on bus

To help you through your student days we offer an interest-free overdraft of up to €2,500 depending on your course and level of grant (subject to credit review and approval).

You can also apply for an interest-free overdraft of up to €1,500 (subject to credit review and approval) for up to one year after you graduate.         

An overdraft is repayable on demand and may not be exceeded without prior permission. If you exceed your limit, surcharge interest plus debit interest will be applied to any amount over the authorised limit. Other charges may also apply. Please see A guide to personal accounts fees and interest for details.  

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