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About ClearAccount

At ClearAccount, we know what it's like to face an unexpected financial problem, one that can send your account overdrawn and incur hefty overdraft charges.

Like you, we'd seen all the negative press about these charges. And we'd seen the government and the regulators make numerous attempts to bring them down. But despite all this, they remained high.

Then, one day in 2011, an idea hit us:

Let's create a credit facility that bolts on to people's current accounts and tops it up every time they're about to go overdrawn, protecting them from unauthorised overdraft fees.

So, we assembled a dynamic team of like-minded people and set about conducting extensive research to work out the best possible solution to help protect people like you – and like us – from these high overdraft fees.

One year later, ClearAccount was born.

Along the way, our team has drawn inspiration from three fundamental beliefs:

  • Affordable credit: Our fees are cheaper than payday loans and unauthorised overdraft fees;
  • Responsible lending: Our credit checks ensure we never lend more than you're able to pay back; and
  • Empowering our customers: Our SafetyNet credit facility and money management tools are designed to help you regain control of your finances.

Read more from the press about the bank's overdraft charges:

Which? demands action over unauthorised overdraft charges from the Guardian

UK banks charging as much as 800,000% on overdrafts from BBC News

'Free banking' has always been subsidised by current account charges from the Guardian money blog

Need help or have a question?

Call us on 0800 180 8400 from 9am to 5pm every day or visit the contact us section.

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Representative 430% APR (variable)

Representative example >
Representative Example:
If you borrow credit totalling £500.00 in a single drawdown and repay over the maximum period of 7 months the total amount payable is £782.75. The total charge for credit is £282.75 comprising interest only. The interest rate is 1% per day equating to 365% per annum (variable) charged for a maximum 58 days on the outstanding balance. You are required to pay a minimum of £170.00 in month one and £161.50 in month two (5% of capital plus interest on the balance each month) with the balance of £451.25 being repayable over a maximum of 5 equal monthly instalments of £90.25. Representative 430% APR (variable). Please note, APR is a function of time and cost. If you pay off your credit more quickly the APR will probably increase.

ClearAccount features

SafetyNet prevents overdraft charges by automatically putting money into your account before you go overdrawn
ClearAccount categorises your transactions automatically so you know what you're spending and where

Representative example If you borrow credit totalling £100.00 in a single drawdown and... read more