What are "Exception Fees"

HONOUR FEES

• Could be called "Overdrawing approval fee" or " Reference fee"
• Charged when you overdraw your account or exceed your agreed overdraft limit.
• This is chrged when the bank pays or "honours" a cheque or periodical payment/

DISHONOUR FEES

• Could be called a "Periodical payment dishonour fee" or "Unpaid cheque fee"
• Charged when you overdraw your account or exceed your agreed overdraft limit and the bank does NOT pay the transaction.
• "Inbound dishonour fees" are charged when you pay a cheque or deposit from someone else, and there are insufficient funds in the other persons account.

OVERLIMIT FEES

• Charged when you exceed your credit card limit

.LATE PAYMENT FEES

• Charged when you are late making a credit card or loan payment by the due date.

NOTE: You cannot claim for ATM, regular interest payments or monthly account fees. These are not exception fees