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Ask Deborah Awyzio Your Own Question
Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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Query on how a bank can pay out above a set daily overdraft

Customer Question

query on how a bank can pay out above a set daily overdraft limit by $11.000+ and then charge 37.70 per day until this is brought back into line.Also as I have now gone into liquidation how can they say you owe an amount stated in a letter of demand and then charge an extra $3100.00 later. Please could you contact me regarding this matter
Submitted: 8 months ago.
Category: Australia Law
Expert:  Leon replied 8 months ago.

Good Morning

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advice but a guide to assist you.

Have you got the terms and conditions of your account? This is the key.

Many have what is called an honour fee. They set out that if you exceed the limit the bank will allow the exceed amount and will charge you a fee of $X.

This is where you have to start. If you do not want this to happen you have to speak with the bank and make sure that you have this deleted.

Have you got a copy of the Terms and conditions of the account?