Overdraft credit facilities allow the account holder to withdraw more money than is currently available in their account, up to a pre-arranged limit. The purpose of overdraft facilities is to provide short-term funding to businesses that have a temporary shortfall in their cash flow.
The main benefits of overdrafts are that they are flexible. Overdrafts are cost-effective, with interest charged only on the overdrawn amount and duration it is overdrawn. Overdrafts should not be used as a long-term solution for cash flow problems and should be used only when necessary and in a responsible manner. Contact any of our FTB branches to benefit from our well-structured overdraft facilities.
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