Santander 123 overdraft fees We have a Santander 123 current account and have never used the overdraft before. We've had a large car repair bill that we should be able to cover without the overdraft but are checking the fees for it just in case.

It doesn't seem to make any sense though.

For an arranged overdraft (which we have) there is a daily fee of £1.00.

For an unarranged overdraft there are no fees at all.

Are we missing something or are we being penalised for doing the "right" thing and arranging something ahead of time rather than dipping in to a stash of money the bank haven't agreed we can have access to?

Would we really be better off NOT having the arranged overdraft if we think we might need to use it?