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Line of credit fee

Posted by Bradyleisa Bradyleisa
Message 1 of 2 634 Views

I have a cheque account and a credit card account. If

my cheque account overdraws you charge Fees. My credit

card is overdrawn and you charge late fees and interest etc. Today on my cheque account you charged a line of credit fee of $20. Is this for

credit card or cheque account? I think it's so unfair to charge my cheque acc if it's for

my credit

card account!! You guys charge so many fees  and for people already struggling it's so unfair. I only had $46 in my account to live off and bang you take $20. I have never had this fee taken out before. It's the same old story the banks get richer and we get poorer. So so unfair BankWest. so disappointed yet again. I know my credit card is overdrawn and that's my responsibility but with all the added fees it's impossible to get ahead!!i have credit card insurance pay fortnightly but not covered under that. Honest it just gets tougher and it's so stressful.

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Re: Line of credit fee

Posted by DanaeC DanaeC
Message 2 of 2 615 Views

Hi @Bradyleisa, I can certainly understand that any fees are disappointing - especially when they're unexpected.
 

A Line of Credit Fee doesn't relate to a credit card. Although we're not able to view your account(s) via the Forum, generally speaking a Line Of Credit Fee is a quarterly fee that can apply to a transactional account for a few reasons.
 

For example, if at any time during the fee raising period there is no overdraft facility on the account, but the account is overdrawn during a fee raising period either:
 

 (a) by $1,000 or more; or
 (b) by any amount for 10 days or more, whether or not consecutive.
 

The fee is debited from the account in arrears on the last business day of March, June, September and December each year.
 

Our Customer Assist Team may be able to discuss some options with you if you'd like to get in touch with them, otherwise you can speak with our Contact Centre regarding the fee, by calling 13 17 19. Alternatively, you can log into your Online Banking and select "Ask Us" (Mobile App) or "Message us Now" (PC) at any time - both services are available 24/7 for your convenience.
 

Thank you.

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