Bank overdraft

What is a bank overdraft?

A bank overdraft is a temporary facility added to bank accounts which allows you to be overdrawn in your bank account by a certain amount.

Advantages of bank overdrafts

A bank overdraft can be flexible. Just like a payday loan from Month End Money, it's there when you need it! Also like payday loans, bank overdrafts are easy and quick to arrange, providing a good cash flow backup with the minimum of fuss.

Disadvantages of bank overdrafts

Bank overdrafts do have their disadvantages, however. They carry interest and fees; sometimes at a much higher rate than loans. Also, with a bank overdraft you could face large charges if you go over the agreed overdraft limit.

With bank overdrafts (unless specified in the terms and conditions) the bank can recall the entire overdraft at any time. Also bank overdrafts may need to be secured against your business assets, putting them at risk if you cannot meet repayments.
People are finding it harder to get approved for an overdraft, as the bank can just refuse to give you one.

Payday the better way

At Month End Money we charge £14.50 for every £50 borrowed on our payday loans. That's it. Our charges are really that simple! We can lend you from £100 to £750, and even if you have a bad credit rating we will still consider you, as we take your current circumstances into consideration.

At Month End Money we deposit the funds into your bank account on the same day you apply² and take the agreed payment in full on your next payday.

Once the funds have been deposited we will never recall the funds from you, as could happen with a bank overdraft. This gives you the peace of mind of knowing that once the money is cleared into your account it's yours to spend how you wish.

Don't get tangled up in money problems, let a payday loan from Month End Money help you out! With a payday loan you can get the loan you need without using your assets as security against your loan.