Here are some things you can do to reduce what you’re paying in overdraft fees:
Look at your budget and see where you can reduce your spending - even if you can reduce your overdraft spending by £10 each month, you’ll soon notice the difference in your overdraft fees. Find out more about making a budget
Change your direct debits to minimise fees – ask some of the companies you pay direct debits to if you can move your payment date to just before you get paid. This means you’ll be in your overdraft for a shorter amount of time
Switch to a no-overdraft account – consider switching to a basic bank account if you have frequent problems with your overdraft. There are now no charges for trying to spend more than you have. The payment will still be rejected, but you won’t be charge for it
Use any savings you have – savings rates are very low at the moment, so you’ll be saving yourself much money by using your savings to clear your overdraft
If you're depending on your overdraft to get by each month, you might benefit from free and confidential debt advice.