Hi @rarther @Matthewleigh23 and @charlie 
What a bunch of fascinating questions and comments, thank you for sharing them! I’m not sure that in the UK we talk very much about overdrafts and they are almost part of living with a quarter of Brits are overdrawn halfway through the month.
As @tom has already said, we’re working on our overdraft strategy right now and so this feedback is really helpful. As far as term goes @Matthewleigh23 we are currently expecting to offer overdrafts without an end date, that said, overdrafts are usually “repayable on demand” (this is due to capital reasons which I can explain if you really want me to! 
) although in reality this is a condition rarely used by a bank and :mondo: will be no exception.
@rarther I agree with you that in terms of user experience there is something to learn from some of the payday lenders, although the interest rates charged is not a place we will be going. I’m also not sure that a 1% cheaper strategy is either a winner or the right thing to do because % is only part of the answer. Indeed, I once heard that 80% of people don’t understand percentages and the other 35% just don’t care. (oops sorry, bad joke alert)
Also, you may have noticed that a number of banks have changed their overdrafts from %interest to daily fees like £1 per day. That sounds really good on the face of it and easy to understand…but as result %interest doesn’t get displayed. “So what” you might ask, it’s only £1 - well how about this:
You go overdrawn ÂŁ100 with Mondo at 5p per day (20% EAR) or maybe 10 per day (40% EAR), or
You go overdrawn ÂŁ100 with ANother 
at a “super easy” to understand £1 per day…that’s equivalent to about a 360% EAR
Thoughts back please!