From today, Natwest’s small business customers can benefit from a clear overdraft commitment of up to 12 months with the Committed Overdraft, removing the threat posed by the “payable on demand” clause from small business overdrafts. Until now the repayable on demand clause has made it hard for small businesses to plan ahead, leading to anxiety and uncertainty.
The Committed Overdraft applies to both secured and unsecured overdrafts and at no extra cost. Natwest are to provide customers with certification confirming that they have successfully managed their committed overdraft.
Source: Business Money
For further details on this, please click through to 20 November 2000: Natwest to Offer Small Business Overdrafts Not Repayable on Demand.
