Bounce Protection
BayCoast Bank offers Bounce Protection that’s just right for those unanticipated moments in life.
At times, unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be a costly, inconvenient and potentially embarrassing experience. At BayCoast Bank, we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. However, we want to save you from the additional merchant fees and possible damage to your credit history that might result if a check is returned. That’s why we provide Bounce ProtectionSM, a special overdraft service for customers of BayCoast Bank.
What is Bounce ProtectionSM?
Bounce Protection is a discretionary overdraft service requiring no action on your part that provides you a safety net up to an automatically assigned overdraft limit. Your Bounce Protection limit may be available for checks and other transactions made using your checking account number or automatic bill payment and recurring debit card payment. Also, at your request (personal accounts only), we may authorize and pay ATM transfers or withdrawals and everyday debit card purchases using your limit.
What does my Bounce Protection cost?
There is no additional cost associated with this privilege unless you use it. You will be charged our Overdraft Fee of up to $35 for each overdrawn item created by a traditional paper-based check, a teller withdrawal, an automatic payment (ACH) transaction, or a recurring debit card payment. If you have requested us to do so (personal accounts only), we may also authorize and cover ATM transfers or withdrawals and everyday debit card purchases. For example, three paid items in one day will result in up to $105 in Overdraft Fees. To help you manage your account, the total fees you have paid for items (both paid and returned) during the current month and for the year-to-date will be reflected on your monthly account statement.
How does Bounce Protection work?
As long as you maintain your account in “good standing,” we may approve your overdraft items within your current available Bounce Protection limit as a non-contractual courtesy. For overdraft privilege consideration, your account is in “good standing” if (1) you make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all bank fees and charges); (2) you avoid excessive overdrafts suggesting the use of Bounce Protection as a continuing line of credit; and (3) there are no legal orders, levies or liens against your account. Please note that the amount of the overdraft plus our Overdraft Fee of up to $35 for each item will be deducted from your overdraft limit. If the item is returned, the Overdraft Fee of up to $35 will be deducted from your account. No interest will be charged on the overdraft balance. Please refer to the customer overdraft policy for additional details.
How do I know when I use the overdraft limit?
You will receive an overdraft notice each time items are paid, including fees. You will need to subtract the total fees when balancing your checkbook.
What is my Bounce Protection Limit? If I have two checking accounts, can I get Bounce Protection on both?
The Bounce Protection limit is $500 for each eligible personal checking account and $1,000 for each eligible business checking account regardless of whether or not you have multiple accounts.
What if I go beyond my Bounce Protection Limit?
Overdrafts above and beyond your established Bounce Protection limit may result in checks or other items being returned to the payee. The Overdraft Fee of up to $35 will be charged per item and assessed to your account. A Non-Sufficient Funds notice will be sent to notify you of items paid and/or returned.
How quickly must I repay my Bounce Protection?
You should make every attempt to bring your account to a positive end-of-day balance as soon as possible, and must do so within 30 calendar days. If you are not able to do so, you will receive a letter from BayCoast Bank informing you that your Bounce Protection limit has been suspended and additional items will be returned. Unless we advise you differently or you request this service be removed from your account, your limit will be made available to cover overdrafts again the first business day after you bring your account to a positive end-of-day balance.
What are some of the ways I can access my Bounce Protection limit? Will my limit be reflected in the balance I receive?
The following chart shows the different ways you can access your Bounce Protection limit and indicates whether or not this limit will be reflected in the balance provided.
| Access points | Is my overdraft privilege available? | Does the balance provided reflect my overdraft privilege limit? |
| Teller | Yes | No |
| Writing a Check | Yes | N/A |
| Debit Card (recurring) | Yes | N/A |
| Debit Card (everyday) | No** Yes (business accounts) | No |
| ATM Withdrawal | No** Yes (business accounts) | No |
| ACH – Auto Debit | Yes | N/A |
| Online Banking | Yes | No |
| Bill Pay | Yes | N/A |
| Telephone Banking | Yes | No |
How soon can I use my Bounce Protection?
You will have access to Bounce Protection 30 days after your account is open, assuming your account is in good standing, as defined in this brochure.
What are some other ways I can cover overdrafts at BayCoast Bank?
The best way to avoid overdrafts and fees is to keep track of your account balance by entering all checks, debit card purchases and ATM withdrawals in your check register, reconciling your checkbook regularly and managing your finances responsibly. However, if a mistake occurs, BayCoast Bank offers other ways to cover overdrafts in addition to Bounce Protection.
| Good account management | $0 |
| Link to savings account | $5 transfer fee for exact amount needed. |
| Overdraft line of credit | Rate is Wall Street Journal Prime Rate plus 6%. Minimum 10% APR and Maximum 18% APR. |
| Bounce Protection | Overdraft Fee of up to $35 for each item or $5 on qualifying designated 18/65 accounts. |
| * These costs are provided only as examples. Please ask us about our specific products and fees. |
What if I do not want to have Bounce Protection on my checking account?
If you would like to have this service removed from your account, call (508) 678-7641 or visit one of our branches.
Bounce Protection Customer Policy
An insufficient balance can result from several events, such as (1) the payment of checks, electronic funds transfers or other withdrawal requests; (2) payments authorized by you; (3) the return of unpaid items deposited by you; (4) Bank service charges; or (5) 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 checking account does not contain sufficient funds.
As long as you maintain your account in “good standing,” we may approve your overdraft items within your current available Bounce Protection limit as a non-contractual courtesy. For courtesy overdraft protection consideration, your account is in “good standing” if (1) you make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all Bank fees and charges); (2) you avoid excessive overdrafts suggesting the use of Bounce Protection as a continuing line of credit; and (3) there are no legal orders, levies or liens against your account.
In the normal course of business, we generally pay electronic transactions first and then checks (low dollar amount to high dollar amount), per the Bank’s policy. We reserve the right to change the order of payment without notice to you if we suspect fraud or possible illegal activity affecting your account. Also, please be aware that the order of item payment may create multiple overdraft items during a single banking day for which you will be charged our overdraft fee of up to $35.00 (or $5.00 on qualifying designated 18/65 accounts) for each overdraft item paid.
You may opt out of Bounce Protection at any time, but you are responsible for any overdrawn balances at the time of opting out. Normally, we will not approve an overdraft for you in excess of the predetermined amount assigned to your account type. So as not to exceed your limit, please note that the amount of the overdraft plus the Bank’s overdraft fee of up to $35.00 (or $5.00 on qualifying designated 18/65 accounts) per item will be deducted from the overdraft limit.
We may refuse to pay an overdraft item at any time even though we may have previously paid overdrafts for you. For example, we typically do not pay overdraft items if your account is not in good standing as defined in this brochure, or if based upon our review of your account management, we determine that you have too many overdrafts or are using Bounce Protection as a regular line of credit. You will be charged an overdraft fee of up to $35.00 (or $5.00 on qualifying designated 18/65 accounts) for each item returned.
There is a daily limit of six (6) on the total number of overdraft fees we will charge you.
You will be notified by mail of any insufficient or uncollected 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 including our overdraft fee that you owe us shall be due and payable upon demand, but if no demand is made, no later than thirty (30) calendar days after the creation of the overdraft. If there is an overdraft on an account with more than one owner on the signature card, each owner and agent, if applicable, shall be jointly and severally liable for all overdrafts inclusive of fees.
Bounce Protection should not be viewed as an encouragement to overdraw your account. To avoid fees, we encourage you to keep track of your account balance by entering all items in your check register, reconciling your checkbook regularly, and managing your finances responsibly. The Bank also offers other overdraft protection plans such as Overdraft Protection (a link to your savings account) and Overdraft Line of Credit, which may be less expensive than Bounce Protection. If you would like to have Bounce Protection removed from your account or to learn more about our other overdraft protection plans, please call 508-678-7641 or visit any branch location.
Please note that your Bounce Protection limit may be available using traditional paper-based check processing, a teller withdrawal, an ACH transaction, a recurring debit card (point-of-sale) transaction, or through Online Banking, Bill Pay, or Telephone Banking. Additionally included with proper “opt-in” documentation from a customer (personal accounts only), we may authorize and cover transactions from an ATM and one-time use debit card (point-of-sale) terminal transactions. The limit will not be included in the available balance provided during an ATM, Telephone Banking, or Online Banking inquiry.
LIMITATIONS: Bounce Protection is a non-contractual courtesy that is available to all checking accounts in good standing (with some exceptions). BayCoast Bank reserves the right to limit participation to one account per household/entity and to suspend, revoke, or discontinue this service without prior notice. Unless we advise you differently or you request this service be removed from your account, your limit will be made available to cover overdrafts again the first business day after you bring your account to a positive end-of-day balance.