When you need to use more money than you have in your checking account and you end up with a negative balance, that means you have entered the overdraft. Also called current account limit, the overdraft is a credit that the bank leaves pre-approved.
In other words, the overdraft is nothing more than a “auto loan”. The bank automatically lends to the account holder when he needs to spend more than the amount he has in his account.
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To provide this service, the Santander Bank performs a credit analysis in order to release the overdraft loan. Once approved, it will be easy to use that money.
Therefore, it is essential to pay attention to the balance of your checking account. Although it is an easy operation, always avoid falling into the limit, as fees and interest are charged.
To request the installment of the existing debit balance in the current account, just call the Call Center Santander or talk to a manager at a physical branch.
The interest rate of installment will be half the rate of your overdraft.
Since nothing is free, of course there is fees in this process. See below how much Santander charges for this loan and how is the quality of the bank's service.
| Bank | Interest rate for overdraft | Note from users on Reclame Aqui | Answered Complaints | Solution Index |
| Santander | 15,35% | 5.32 | 99,6% | 71,7% |
To carry out the cancellation, an analysis of the customer's situation is required through the Customer Service Center through protocol 64113583.
See too: Santander Card – How to do it, Benefits, Annuity, 2nd Copy