Honouring fee

[Saadiqah]

I was charged an honouring fee because there was not sufficient funds for the debit order to go through. The following month I was charged an overdraft fee because my account was in negative the previous month. How does it make sense to get charged an honouring fee as well as an overdraft fee???

[filthypeasant]

honestly this is daylight robbery

[Boipelo23]

Hi @Nompumelelompen 

Thank you for getting in touch.

We can imagine how frusrating this matter is for you and our team would like to assist by providing clarity on how Honouring fees work.

An honoring fee is a fee charged for using your card while you do not have enough available funds for the transaction, but the bank allows the transaction to go through for your convenience.
An honoring fee can be charged when you are swiping your card, or when a merchant debits your account for a transaction you made days, or even weeks before.

Standard Bank does not decline transactions because our customers have tolerated limits on their accounts which we as their bank use to assist them to honour their POS purchases or Debit Orders.

Please be mindful if you had funds available  honouring the payment for Debit and Cheque Cards POS transactions and Debit Orders is processed in real time. 

Make use of the Standard Bank App and Online banking to check your available balance and outstanding card authorization on your account.

We hope this was useful.

Kind regards,

Boipelo.

Standard Bank Team

[Nompumelelompen]

I always have an honouring for a transaction that I did days ago which results in me paying twice for the same thing . At this point I need an explanation before I switch banks because no one has money to pay for something twice . The reason you swipe when you have the money is because you have the money , so this days later transactions are killing me . My account can’t always be on minus for a transaction I did days ago and the money was taken out of my account. I need Standard Bank to pay me for all my honouring fees for past transactions