What is HSBC (UK)'s policy on overdrafts?

HSBC (UK)'s policy on overdrafts is designed to offer flexible solutions to its customers. The bank provides different types of overdrafts, including arranged and unarranged overdrafts. An arranged overdraft is a pre-agreed borrowing limit that customers can set up with HSBC, allowing them to borrow more money than available in their account, within the agreed limit. The bank also offers a range of overdraft options, with varying interest rates and fees, ensuring that customers can choose the option that suits their needs. It is important to note that unarranged overdrafts may result in additional charges, and it is advised to contact HSBC in advance if customers anticipate going into an unarranged overdraft. HSBC encourages responsible borrowing and provides resources on managing finances effectively.