As for penalties on unauthorised overdraft, customers should read the terms and conditions while opening up the account and know about the possible charges before going beyond the account limit. These charges are unavoidable but if your credit rating is fine and you have been obliging the terms and conditions for long, charges for only one or two mistakes can be waived off. For this, you should politely explain with the customer advisor the reason of going over the agreed limit. If you can convince them, they can consider on reasonable grounds. But at other times, you should be careful about maintaining your account fair and square. I am not a banker but experience counts. Re Kya. LOL