It happens to us all - you check the bank statement and a direct debit doesn't go through because you forgot about a cheque you wrote a fortnight ago, or your better half used the debit card and didn't mention it. There on the statement is the dreaded $35 or $40 dishonour fee charged to your account - and most likely the other institution that the direct debit was supposed to go to has also socked you a similar amount!

We would have had this happen to us about 5 times in the past 2 or 3 years - think we've ever paid the fee? Nope. We challenge the bank (usually in writing) and EVERYTIME they have waived the fee - we offer to pay a reasonable administration fee, but they always waive the whole fee. Why? to not set a precedent that's why - if they reduce the fee charged then every customer of that bank can demand the same treatment, so they kindly waive it to show 'good faith' or because you are a 'valued customer'.

The reality is that the high fees are most likely unenforceable in law - the law states that an institution may charge a reasonable fee to provide a service, but may not charge an exorbitant one. Plain and simple and that's all you have to remember!

Choice.com.au has a word document and information that you can download to challenge fees. They also say that you can retrospectively challenge unfair fees going back from 3 to 6 years depending on which state you live in.

Here's the link to the website I mentioned -
Choice.com.au - Reclaim your bank fees

Give it shot - I'd be surprised if you are unsuccessful.

Wibble