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What is an Honour Fee?

Posted by SeriuzBidnes86 SeriuzBidnes86
Message 1 of 6 1,172 Views

So I understand a Dishonour fee, for not having enough money in an account before an automatic payment to a Loan, but on this occassion I xfered enough money into the account before 12:45 as prompted by a text, only to receive an HONOUR FEE - PERSONAL debit $10.00.


What is the difference between a Dishonour fee and an Honour fee and how can I fix this considering I had enough money in the account, and is now overdrawn by -$10 due to the $10 fee....

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Re: What is an Honour Fee?

Posted by SarahF SarahF
Message 2 of 6 1,172 Views

Hi @SeriuzBidenes86, thanks for the enquiry in regards to this. An Honour fee is charged when there is not enough funds in the account but Bankwest elects to honour the payment. A Dishonour fee is charged when there is not enough funds in the account and the payment is not made. Both have a $10 fee attached.

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svl
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Re: What is an Honour Fee?

Posted by svl svl
Message 3 of 6 143 Views

Hi , the sMS that you send when account is overdrawn does not sufficiently inform customer that placing ddiotional funds on the account within an allocated timeframe would still attract a fee. this is misleading.

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Re: What is an Honour Fee?

Posted by DanaeC DanaeC
Message 4 of 6 141 Views

Hi @svl, I do apologise for any confusion. The SMS is sent to convey that an Honour or Dishonour fee will be charged, and that the initial debit will honour if funds are credited to your account by 12.45 AWST the following business day. I will ensure that your feedback is passed on, and again I do apologise for any misunderstanding.

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Re: What is an Honour Fee?

Posted by Amandar Amandar
Message 5 of 6 55 Views

I recieved an honour fee....yet i put money in the account before the time the next day. 

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Re: What is an Honour Fee?

Posted by DanaeC DanaeC
Message 6 of 6 44 Views

Hi @Amandar, thanks for your enquiry. An Honour fee is charged when there are not enough funds in your account, but Bankwest authorises the debit to go through. If you make a deposit before 12:45pm WST, the transaction will be honoured, and the $10 Honour Fee will be applicable. If credit funds are not in the account by this time, then the direct debit is reversed by the bank, and the $10 Dishonour Fee is raised to your account, in place of the $10 Honour Fee. Thank you.

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