MZ
Mpho Z
1 reviews | Active since Aug 2020
03 Aug 2022, 08:58
the nightmare of honoring fee
Again I'm here because standard bank keeps charging honoring fee that i dnt even know what I am honoring as my account has been accordingly...I am tired now with this...it even charges an amount that is ridiculous.
this really make the account not balance and affects ones account...
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Standard Bank's replyOfficial
03 Aug 2022, 09:10Dear Mpho Zwane
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.
We apologize that this information was not explained in detail when account was opened. However should this not be the case we would be glad to look into your profile and dispute the charge.
Kindest regards,
Standard Bank Hello Peter Team
Standard Bank's reply03 Aug 2022, 09:10
Official
Dear Mpho Zwane
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.
We apologize that this information was not explained in detail when account was opened. However should this not be the case we would be glad to look into your profile and dispute the charge.
Kindest regards,
Standard Bank Hello Peter Team