Honouring fee

Good day,

When we open up a bank account, we trust that the bankers and he bank itself will disclose all the relevant information that affects the client… When we open up a bank account, We expect to trust that our hard earned salaries and money will be kept safe as well as utilized in the proper manner…

In these uncertain times, Times of illness and suffering, we need to ensure that every last cent is stretched to its maximum.

I am a recent acquisition to the standard bank family and all was well until I find out that Standard bank takes money away from my account and labels it “Hounouring fee”.

I understand the process of it, but cannot seem to grasp how it is so easy to take away money that is not the banks. These fees are charged when a bank makes the exceptional decision to honour a cheque or debit order presented for payment against an insufficient balance.

Who makes the decision? Why was I not informed about this when I went in to open up my account? Why do I pay for goods and then pay for it again, just because I was R1 short??