Changes to your current account

From 1st January 2011 we'll be making some important changes to your Current Account.

Feature Gibraltar (current) Gibraltar (New)
Overdraft Interest 13.79% Authorised

24.90% unauthorised		 17.9%
Debit Card

ATM Card/X2X/ Full Visa Debit Card (judged on a case by case basis)

Foreign Card Usage Fees apply

ATM Card/X2X/ Full Visa Debit Card (judged on a case by case basis)

Free foreign card usage abroad

Low usage fee n/a £5
Overdraft Usage Fee £5 per month £5 per month
Default Fees

£23 & 29.50 (paid and unpaid)

Unapproved overdraft fee £19 per month 

£15 per item

£19 per month

Exclusive Saver n/a Exclusive savings products available (subject to funding requirements)
Fee Free Buffer Zone £10 £10
Why are you making these changes to the current accounts?
The changes will help to simplify the way we operate our current accounts, including making our charges more transparent.
Do I need to do anything?
No. The changes we're telling you about will happen automatically on 1st January 2011, so you don't have to take any action.
Will any of my bank account details change?
No. Although your account product name will change, your account number, sort code and debit card will stay exactly the same, as well as any standing orders, Direct Debits and bill payments.
Will my approved overdraft be affected?
If you already have an approved overdraft, this will stay the same. However, if you don't currently have an approved overdraft in place, you will no longer be able to set one up with the Gold Light Account. You will need to hold a Gold Classic Account to set up a new approved overdraft.
Can I still use my debit card?
Yes. Your debit card will work in exactly the same way, except that now when you use it overseas you will no longer have to pay cash and retail transaction charges or handling fees (except where the retailer or cash machine charges you directly).
What if I have a LINK ATM card?

Your LINK ATM card will work in exactly the same way, except that now when you withdraw money from a cash machine overseas you will no longer have to pay transaction charges or handling fees (except where the retailer or cash machine charges you directly).

Will the changes affect my internet banking?
No. You will be able to log on to internet banking as you do now. Your login and password details will stay the same.
Do I still have free in-credit banking?
Yes you do. As long as you make at least five transactions a month or have a balance over the month of £5,000 or more , there will be no charges for in-credit banking.
What are the charges if I go overdrawn?
If you have an approved overdraft, you will pay a monthly charge of £5 plus debit interest at 17.9% EAR*. You will pay a monthly charge of £19 plus interest at 17.9% EAR* for unapproved overdrafts. Paid and unpaid items will be charged at a flat rate of £15 each. Remember you also get a £10 fee-free buffer zone to help you manage your money if you go overdrawn by a small amount.
I am not sure the new account will suit my needs, what should I do?
Telephone and book an appointment with any N&P branch, they will be more than happy to suggest alternative accounts for you.
What should I do if I no longer want this current account?
You are free to transfer your money to another N&P account or to close your account altogether.
View All Frequently Asked Questions

Here's a summary of the changes you'll see from the 1st January 2011: 

Free overseas debit card transactions

You will no longer have to pay cash withdrawal and retail transaction charges or handling fees when you use your N&P debit card overseas. Using your card abroad will be just like using it in the UK.**

Overseas debit card transactions Before change After change
Cash Withdrawals £2 Nil
Purchases £1.25 Nil
Handling Fee 2.75% Nil
What this means for you:
  • You no longer need to pay commission or shop around for the lowest exchange rates on foreign currency and travellers cheques.
  • You'll be able to feel safer when you travel because you won't have to carry large sums of foreign currency with you.
  • You won't have to worry about running out of holiday money when you're overseas. Just go to any cash machine displaying the VISA/PLUS symbol, as you would at home.

A low usage charge

If you make fewer than five transactions a month, your account will be debited £5 per month - unless your average balance over the month is £5,000 or more.

**Please note an overseas ATM or retailer may add a charge. You would be told about this at the time of transaction.