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Bounce Protection FAQs Tips to Avoid Overdrafts

Bounce Protection®

A Special Overdraft Privilege for Consumer Checking Accounts

At times, unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account.  That’s why we created “Bounce Protection”, a special overdraft privilege for Bank of Advance personal checking accounts.  Bounce Protection is available upon request, either at account opening or by contacting your local branch.
 

Bounce Protection Limits
Simply Checking $300
High Performance Checking $500
Premium Checking $1,000
Relationship Checking $1,000


 

 

 

 

 

 

In order to qualify for Bounce Protection you must make at least two deposits totaling the amount of your Bounce Protection limit within the first 30 days of opening your account.
 

Bounce Protection is a program that covers checks, recurring debit card transactions, and ACH debits that occur from your account. In order for the Bank of Advance to authorize and pay overdrafts for ATM withdrawals and one-time debit card transactions, you will need to opt in to the Debit Card Overdraft Proctection option by contacting your local branch. 
 

 

 

Checks

Other Debits

ATM Withdrawals

One-Time
Debit Card Transactions

Bounce Protection

Optional coverage for checks, ACH debits and recurring debit card transactions.

X

X

 

 

Debit Card
Overdraft
Protection

Optional coverage.  When added to Bounce Protection, all types of overdrafts are covered.

 

 

X

X

Sweep Plan

Optional coverage that allows you to have funds automatically pulled from your savings account when your checking account goes below a preset amount.  One-time $10.00 set up fee.

X

X

X

X

Note: We pay overdrafts based on our standard overdraft policy.  We do not guarantee that we will always pay any type of overdraft transaction.

An insufficient balance could result in several ways, such as (a) the payment of checks, electronic funds transfer, or other withdrawal requests; (b) payments authorized by you; (c) the return of unpaid items deposited by you; (d) the imposition of bank service charges; or (e) the deposit of items which, according to the bank's Funds Availability Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. However, if you maintain your account in good standing, defined as making regular deposits to bring your account to a positive balance at least once every 30 days, and there are not legal orders outstanding, we may approve your reasonable overdrafts as a non-contractual courtesy. Normally we will not approve an overdraft for you in excess of your limit plus our overdraft charge. We may refuse to pay an overdraft for you at any time, although we may have previously paid overdrafts for you. You will be notififed by mail of any non-sufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdraft plus our Insufficient Funds handling fee charge(s) and any daily overdraft fee(s) that you owe us shall be due and payable upon demand. If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdraft and overdraft fee(s).

LIMITATIONS: Available to individually owned accounts in good standing for personal or household use. Bank of Advance reserves the right to limit participation to one account per household and to discontinue this product with 30 days prior notice.