The 1.8 million fans who applied for London 2012 Olympic tickets must ensure they have sufficient funds in their account or risk getting hit with bank charges as payments begin to get taken.

Cash for tickets will automatically be taken from successful applicants at some point from today until 10 June.

But you should check your account now to make sure you have enough money to cover the cost if you are successful in getting all the tickets you applied for, as that may happen.

If you don't have sufficient funds your application could be rejected and you could be fined by your bank or credit card company for going over your limit (see Martin's Unfair Olympic tickets blog).

Even if the application is successful and you breach your limit you could be charged.

You should also ensure there is enough extra cash in your account, in addition to ticket money, for any bills or other key outgoings that will be taken out over the next month.

If you cannot transfer money you could try applying for an increase to your overdraft or credit limit to make sure you don't get charged.

You will be notified by 24 June if you have been successful, although if you check your statement before then you will see whether money has been taken.

If you are allocated tickets and later decide you no longer want to go you will be able to resell them at face value early next year via an official London Organising Committee of the Olympic Games website.

However, even though you will pay for the tickets this May or June, you will not be refunded until next year.