LS
LERATO S
1 reviews | Active since Nov 2021
12 Jan 2023, 13:02
Honouring fees
Am not happy with the service at standard bank they debit my account different amount for honouring fees. Which even today I don't know what am I honouring in my own account. Opened a MOMO account thinking is less on fees but am paying over 180 everything morning which no one is able to explain what is it for.
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Standard Bank's replyOfficial
12 Jan 2023, 13:09Dear Lerato Sachane
Thank you for writing to us.
Honouring fees are charged when you process a transaction and do not have enough funds to cater for that transaction. Merchants take 2-3 days up to 6 months to bank their transactions. Furthermore, funds need to be available and enough to cater for these transactions. Once a transaction is banked and there are not enough funds in your account to honour the transaction; an honouring fee will be charged because the merchant will already be paid. The fee will be equivalent to the transaction amount if the transaction is below R100.00 and will be R132.00 if the transaction is over R100.00.
Please ensure that you cater for all your transactions and fees once you are debited to avoid any penalty fees that will charged.
Please ensure that you cater for all your transactions and fees once you are debited to avoid any penalty fees that will charged.
Kindest regards,
Standard Bank Hello Peter Team
Standard Bank's reply12 Jan 2023, 13:09
Official
Dear Lerato Sachane
Thank you for writing to us.
Honouring fees are charged when you process a transaction and do not have enough funds to cater for that transaction. Merchants take 2-3 days up to 6 months to bank their transactions. Furthermore, funds need to be available and enough to cater for these transactions. Once a transaction is banked and there are not enough funds in your account to honour the transaction; an honouring fee will be charged because the merchant will already be paid. The fee will be equivalent to the transaction amount if the transaction is below R100.00 and will be R132.00 if the transaction is over R100.00.
Please ensure that you cater for all your transactions and fees once you are debited to avoid any penalty fees that will charged.
Please ensure that you cater for all your transactions and fees once you are debited to avoid any penalty fees that will charged.
Kindest regards,
Standard Bank Hello Peter Team