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Honor fees

Posted by Discoduck1977 Discoduck1977
Message 1 of 2 389 Views

Hi i have an account with your bank and i was wondering why i was charged an honour fee on my account.

 

I understand that this is a fee you charge but as you have NEVER honoured transactions before and i wasnt notifed.by sms about this charge and I DIDNT AGREE TO IT WHY ARE YOU CHARGING ME.

 

Is this a way for you to cover discrepancies raised by the banking royal commission.

NOT HAPPY BANKWEST

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Re: Honor fees

Posted by DanaeC DanaeC
Message 2 of 2 382 Views

Hey @Discoduck1977, thanks for reaching out.

 

I can certainly understand the disappointment you have expressed in relation to being charged an Honour Fee, though it is outlined in the account PDS/Terms and Conditions provided when you open the account, as well as on our website.


This particular fee will raise to your account, if it has a negative balance caused by a direct debit at the close of business on any given day. The $10 Honour Fee is advised, as Bankwest have paid the debit on your behalf, and will allow you until 12.45pm AWST the following business day to transfer the negative balance back into your account. If credit funds are not in the account by this time, then the payment is reversed by the bank, and a $10 Dishonour Fee is raised to your account (in place of the Honour Fee).

 

You should have received a Text Message advising you of this, so it may be best to confirm that we have the most up to date details on file for you.

Via The Forum I am unable to view your details, though if you would like to discuss this further you are most welcome to call our Contact Centre on 13 17 19. Alternatively, you can log into your Online Banking and select "Ask Us" via the Mobile App menu or "Message us Now" from a PC, where our Online Team would be happy to have a discussion. Both services are available 24/7 for your convenience.


Thank you.

 

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