Regarding the overdrafts that will be available at some point I have been trying to find an answer for this and cant find it.
currently with my RBS account the only transactions that will take me into an arranged overdraft is cleared transactions. As an example if i have an account balance of 100 and an overdraft of 100 then i have 200 available, if i then spent 200 on the card then i would only start accruing overdraft charges when the card payment is cleared.
What I am looking to find out is when will Monzo consider me to be in an arranged overdraft? will it be as soon as i authorise a payment to leave that dips into the overdraft? Or is it only cleared payments that will accrue overdraft charges.