Dishonour of a cheque (outward)

What is an outward cheque dishonour fee and when is it charged?

An outward cheque dishonour fee is charged when a personal cheque is dishonoured (not paid) by us due to insufficient or unavailable funds in your account. The person depositing or cashing the cheque (payee) doesn't receive their money.

How can I avoid outward cheque dishonour fees?

Make sure that you have enough available funds in your account before writing a cheque and that the funds will remain in your account until the cheque will be deposited or cashed by the other party.

For example, if you write a $100 cheque to pay Telstra, you need to make sure that $100 is left in your account until Telstra presents that cheque.

Unfortunately, some payees may delay presenting cheques and you may inadvertently withdraw the funds before the cheque is presented.

Some methods you can use to ensure that the funds remain available are:

• Check your balances frequently using telephone and Internet banking
• Use sweeps* to automatically transfer funds from another Suncorp Bank account when a cheque is presented which may overdraw the account
• Set up alerts on Internet Banking when the balance hits a nominated limit
• Use alternative payment methods such as transfers or bank cheques so the funds are immediately withdrawn from your account

Dishonour of a Direct Debit

What is a direct debit dishonour fee and when is it charged?

A dishonoured direct debit fee is charged when a direct debit is dishonoured (not paid) due to insufficient or unavailable funds in your account. The person receiving the money from the direct debit (payee) doesn't receive their money.

How can I avoid direct debit dishonour fees?

Check the due date for any direct debit payments and make sure you have enough available funds in your account on the dates your payments are due.

Some methods you can use to ensure that the funds are available are:

• Check your balances frequently using telephone and Internet banking
• Use sweeps* to automatically transfer funds from another Suncorp Bank account when a direct debit is presented which may overdraw the account
• Set up alerts on Internet Banking when the balance hits a nominated limit
• Use alternative payment methods such as transfers or BPAY so the funds are immediately withdrawn from your account

Exceeding a Credit Card Limit

What is a credit card over the limit fee and when is it charged?

A credit card over the limit fee is charged when a transaction made by any cardholder on your credit card results in the balance owing being greater than the agreed credit limit of the card.

For example, if you make a purchase for $200, your limit is $1,000 but there is already $850 owing on the card, the account will overdraw its limit by $50. This will result in an over the limit fee being charged.

The Over limit fee is charged each time you go over the approved card limit. The fee is charged at the end of the monthly statement period.

How can I avoid credit card over the limit fees?

Always keep track of transactions made on your card and check your online statements regularly if you are a frequent user. Make sure you have sufficient available funds to cover your credit card transactions. Your available balance can be checked at any time through Suncorp Bank ATMs, Internet and Phone Banking.

Making regular payments during the month using our Autopay facility can also reduce the risk of your card going over its limit.

Suncorp Bank assists you to avoid the over the limit fee by preventing electronically authorised transactions to cause you to go over your approved limit. This means that withdrawals using Suncorp Internet, Phone Banking, ATMs and electronic merchant terminals (where possible) will be declined if your credit card is already over your agreed credit limit or the transaction would cause you to exceed your limit.

However, there may still be some transactions that take you over your limit, for example, Visa Transactions that are not electronically authorised or recurring direct debit transactions. We recommend you make provision for these transactions when calculating your available balance.

As part of normal business operations, Suncorp Bank regularly reviews our banking fees to ensure our products are very competitive and that you are kept informed on how you can minimise fees. Any changes to exception fees resulting from a review are communicated in line with our required disclosure and legal obligations.

Late Payment of a Credit Card Account

What is a credit card late payment fee and when is it charged?

A late payment fee is charged when the required minimum monthly payment has not been received by the Bank on or before the due date shown on your credit card statement.

We refer to this fee as an Arrears Administration fee.

How can I avoid credit card late payment fees?

Take note of the due date when you receive your statement and ensure that we receive your payment on or before that date.

Make sure you allow for any processing time that may apply when paying from an external source (eg.Bpay or an external transfer from another bank). If you are unclear, check with the bank that you're making the payment from to find out how long the processing time may be.

Overdrawing an account

What is an overdrawn account fee and when is it charged?

An overdrawn fee is charged when a personal cheque or direct debit is honoured (paid) even though there are insufficient funds in your account. The person depositing or cashing the cheque (payee) or the recipient of the direct debit authority receives their money.

We refer to this fee as a Payment honour fee.

How can I avoid overdrawn account fees?

Make sure that you have enough funds in your account when the funds are withdrawn by the payee via cheque or direct debit.

Some methods you can use to ensure that the funds are available are:

• Check your balances frequently using telephone and Internet banking
• Use sweeps* to automatically transfer funds from another Suncorp account when a cheque or direct debit is presented which may overdraw the account
• Set up alerts on Internet Banking when the balances hits a nominated limit
• Use alternative transactions such as transfers, Bpay or bank cheques so the funds are immediately withdrawn from your account

* Sweeps

You can set up an Insufficient Funds Sweep between your Suncorp Bank accounts which will automatically transfer money into your nominated Suncorp Bank account if there are insufficient funds in that account to cover a direct debit or personal cheque. The cost of a sweep is $1.50 per use, which is much less than the fees for overdrawing your account or for the dishonour of a direct debit or cheque. For Everyday Options customers Sweep functionality is fee free. Visit your nearest branch to learn how to set one up.

For more Information about fees please refer to the Product Information Document.