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 | $500 |
| 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.
| 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 for one-time debit card transactions. 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 notified 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.
Bounce Protection FAQs
Learn how Bounce Protection works, how to access it and what happens when you use it.
Avoid Overdrafts
We have some tips and services that can help you prevent overdrafts from your account.