As you may know, many of the high street banks are currently engaged in a test case around the legality of imposing penalty charges and very high interest for unauthorised overdrafts. Whilst Unity is not involved in this case, we have decided to abolish all penalty charges if your account accidentally goes into arrears from the start of 2009.
We have also substantially cut the rate of interest that we charge when this happens from 15% above Base Rate to 5% above.
We recognise that for whatever reason, your account may go in to the red very occasionally, so we don't intend to penalise you for that. However, what we do ask is that if you know that your account is going to be in the red, you call us as soon as you can, so that we can discuss your needs.
To set out what you can expect from us and what we want from you in return, we've developed an accord - The Deal.
A copy of The Deal, signed by us, can be found below. We hope that you will sign and keep your copy as a re-statement of our general principles of how we wish to do business with our customers.