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HONOUR FEES
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- 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/
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DISHONOUR FEES
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- 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.
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OVERLIMIT FEES
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- Charged when you exceed your credit card limit
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.LATE PAYMENT FEES
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- 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
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