Our Approach to Overdrafts

[alexs (Alex Sherwood)]

@AdamSee

A days grace period for small overdrafts would be a good idea. As it prevents people not using the card when they forget to top up and not have to worry about being charged with fees for emergency or accidental use. Even if the fees are small, it will cause annoyance.

Monzo’s taking a slightly different approach to managing this, Tom’s said that

@alexs

When the overdrafts are launched, “you will not go overdrawn without saying; yes I want to do this”

personally, I prefer this option as I don’t want to incur any charges unintentionally.