Overdraft Flashcards

1
Q

How is interest calculated?

A

On overdrawn balances at a percentage over BoE base rate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are the features and benefits of an overdraft facility?

A
  • Good for short term needs and seasonal companies
  • Only pay interest on overdrawn balance
  • Must be able to get out of overdraft at least once a month
How well did you know this?
1
Not at all
2
3
4
5
Perfectly