We’re changing the way we calculate, pay and deduct interest and fees on some of our accounts. Our General Terms and Overdraft Terms and Conditions have been updated to reflect this change and take effect on 22 June 2026.
We’re changing the way we calculate, pay and deduct interest and fees on some of our accounts. These changes come into effect on 22 June 2026.
General Terms changes
- We’re updating the wording in section 13 and 14 of our General Terms. Currently, we calculate interest daily and add it to your account on the last working day of the month, quarter or year (depending on your account type).
- From 22 June 2026, unless any additional terms say otherwise, fees and interest will now be added to your account on the last day of the month, quarter or year (depending on your account type), including weekends and public holidays. You can find information about how we calculate and pay interest for each account in the additional terms or on our account interest rate pages.
- If you have an unauthorised overdraft, interest will now be added to your account monthly, on the last day of the month, including weekends and public holidays.
Download a copy of the updated General Terms effective from 22 June 2026.
Overdraft Terms and Conditions changes
- We’re updating the wording in section 8 and 11 of our Overdraft Terms and Conditions. Currently, we deduct interest, and any default interest or fees on the last working day of the month.
- From 22 June 2026, we’ll now deduct any interest and fees on the last day of the month, even if it’s a weekend or public holiday.
Download a copy of the updated Overdraft Terms and Conditions effective from 22 June 2026.