There are some instances where you may have issued a payment instruction/s (cheque, direct debit or standing order) and inadvertently forgotten to set aside funds to cater for the facilitation of the payment/s – it happens to all of us!
To support you, we take this opportunity to remind you of the following options in these circumstances:
- Should you have multiple accounts with us, you can apply for a sweep facility at your nearest branch. This allows for the automatic transfer of funds between one’s accounts, as would be necessary to cater for the payment instruction/s.
- We also offer personal overdrafts subject to qualification as an additional option – to find out if you qualify, please contact your Relationship Manager.
Should your account be insufficiently funded to cover the payment instruction/s upon presentation, the payment will be returned ‘unpaid’ with a charge of Kes. 3,000 (plus a 10% excise duty). In cases where payment instructions overdraw an account but the said account is funded within the same day, a charge of Kes. 3,000 (plus a 10% excise duty) shall be levied on the account if there are no other funds held by the bank in your favor in your supplementary accounts.
The best option however, is to ensure that your account is sufficiently funded prior to making payments. To help you access your banking information at your fingertips, we have comprehensive mobile and internet banking solutions – to find out more, please contact us on:-