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’. read more…