Full Form
Monthly cap on unarranged overdraft charges
1. Each current account will set a monthly maximum charge for:
(a) going overdrawn when you have not arranged an overdraft; or
(b) going over/past your arranged overdraft limit (if you have one).
2. This cap covers any:
(a) interest and fees for going over/past your arranged overdraft limit;
(b) fees for each payment your bank allows despite lack of funds; and
(c) fees for each payment your bank refuses due to lack of funds.
Short Form
"The monthly cap on unarranged overdraft charges for [your/the] [insert PCA product name] account is [insert amount]. Further details can be found online at [insert website address to a page that shows the ‘Full Form’ definition]."