Overdraft text alerts
We do not send overdraft text alerts to Cashminder account customers
To help you manage your money and avoid or reduce any debit interest you may incur, we send overdraft text alerts to current account customers who have their mobile phone number registered with us.
Going into an unarranged overdraft can have a negative effect on your credit file.
When we send overdraft text alerts
We'll send an overdraft text alerts for the following reasons:
Before you go into an arranged or unarranged overdraft
This means you have payments that are due to leave your account that day which may take you into an arranged or unarranged overdraft.
You will have until 9pm on the day your payments leave your account to transfer in sufficient funds to avoid or reduce paying debit interest. There is no need to contact us. Please note that any subsequent transactions will need sufficient funds to be available or you may enter into your overdraft again.
When you have entered into an arranged or unarranged overdraft
Arranged overdraft
This means your balance has gone below zero but you have an arranged overdraft. An arranged overdraft is a set amount you have agreed with us in advance. You will be charged debit interest for entering into your arranged overdraft. If you have a Privilege or Privilege Premier account and your overdrawn balance is within the interest free overdraft limit, there will be no debit interest charges.
Unarranged overdraft
This means your balance has gone below zero (if you don't have an arranged overdraft) or you have exceeded your arranged overdraft limit.
You will have until 9pm on the day you have entered into an arranged or unarranged overdraft to transfer in sufficient funds to avoid paying debit interest. There is no need to contact us. Please note that any subsequent transactions will need sufficient funds to be available or you may enter into your overdraft again.
When you don't have enough funds in your account to make all of your scheduled payments that working day
This means you don't have enough funds in your account to pay all your scheduled payments due out that working day. You will have until 2pm on the day your scheduled payments are due out to transfer in sufficient funds to avoid them not being paid.
Are overdraft text alerts secure?
Yes, they are secure. The text message will come through with the name 'Co-optiveBk' as the sender. We will only include the last four digits of your account number and we won't include your name, your account balance, any embedded links or phone numbers within the message.
Text alert charges
We will not charge you for receiving these text messages. You may want to check with your network provider as they may charge you in certain circumstances, for example, if you are abroad.
Opting in or out
You are automatically opted in to the overdraft alerts service if we have a mobile phone number registered for you.
If you have a joint account, both account holders are automatically opted in if we have mobile phone numbers registered for you both.
Update or register your mobile phone number with us
You may choose to opt out or opt back into receiving the alerts at any time. To do this, you'll need to contact us.
Useful links
Update or register your mobile phone number with us
To make sure you're automatically opted in to overdraft text alerts, you can update or register your mobile phone number using our mobile app or through online banking.
Update or register your number using the mobile app
Log in to the app, and:
- Tap 'More' in the bottom right corner while you're on the main accounts screen
- Tap 'My settings and details'
- Tap 'Personal details'
- Tap 'Edit' on the phone number field
- Once updated, tap 'Save'.
We'll ask you to verify the change by using your fingerprint, passnumber, or facial recognition.
Update or register in online banking
Log in to online banking, and:
- Click 'My details' from the main menu
- Click 'Phone numbers' and follow the on-screen instructions
- Enter your password and we will send you a verification code via text message or email – if you select the text message option, we'll send the code to the existing number we have, not your new number.
Alternatively you can contact us to update or register your mobile number.
How to regularly manage your account
It's important that you can access your money, wherever you are. Take a look at the many ways to bank.
Financial support
We understand that sometimes people struggle to stay on top of their finances. If you're worried about money we can help. Visit our financial support page to see the different ways we can support you.
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