Subject to credit authorization, overdraft protection offers between 500 and 5,000 $US protection for most bank accounts and up to 10,000 $US protection for those with an RBC VIP bank account. If we have your UK mobile phone number, we will sign you into our automated overdraft text alert service. If you have an arranged overdraft, we`ll write you an SMS if you`ve started doing it (for example. B if you have made a cash withdrawal) or are about to use it (based on a planned payment, for example. B of a direct debit). If your overdraft is approved, it is normally available the next day. The unpaid transaction fee of $2.75 is charged for a transaction that we return without pay. A transaction (for example. B a direct debit system) will be refunded if the payment cannot be made from balances on your account or an unused overdraft facility and if we decide, at our discretion, not to make the payment. Each current account has a maximum monthly fee for a disorderly overdraft or exceeding the agreed overdraft limit of $20. Your overdraft protection automatically comes into effect – up to your limit if your account is debited. If you are in a messy overdraft, we charge you interest on the amount you oversubsure. This interest expense may vary depending on the type of current account.
You can use our convenient Cost Calculator overdraft, which can give you an idea of the cost of using a messy overdraft. You can see how much overdraft protection you currently have via RBC Online Banking. Just click on your account and look at the authorized overdraft at the top of your account details page. You can apply for or increase overdraft protection with RBC Online Banking. For starters: If you manage to get an arranged overdraft, it`s convenient to know that you can ask to increase it, reduce it or delete it via Digital Banking, in the mobile app, by phone or in the store. An agreed overdraft is a form of debt and can be repaid upon request. Always make sure you have enough money in your current account or an appropriate agreed overdraft limit before payments come from your account. Keep in mind that overdrafts are a way to borrow money, and you are responsible for refunds if you decide to use one. If you are unable to repay the credits due, you may be able to influence your credit score that most lenders use to decide whether they are granting you credit. We will therefore not charge you more than $20 in a monthly loading time for an unclassified overdraft or unpaid transaction. If you already have an agreed overdraft on your Royal Bank of Scotland current account, we are right to increase, reduce or remove your limit so that you have control.
You can also add, increase, reduce or remove overdraft protection in a store or give us a call at 1-800-769-2511 1-800-769-2511. Sometimes it`s just the general cost of living, sometimes it`s an unexpected bill or a cost.