What
is Bounce Protection?
Bounce Protection is an overdraft
privilege service requiring no
action on your part. You
don't have to sign anything.
Your Bounce Protection limit
amount will be automatically
assigned.
How
does Bounce Protection Work?
As long as you maintain
your account in good standing,
Thumb National Bank & Trust
Company may honor overdrafts up to
the Bounce Protection limit on
your account. Whether your
overdraft will be paid is
discretionary and we reserve the
right not to pay. For
example, we typically do not pay
overdrafts if your account is not
in good standing or you are not
making regular deposits, or have
too many overdrafts. To
ensure you don't exceed your limit
if you use Bounce Protection,
please note that the amount of the
overdraft plus our standard NSF
fee of $27 for each item will be
deducted from your overdraft
limit. No interest will be
charged on the overdraft
balance.
How
do I know when I use the overdraft
limit?
You will receive an overdraft
notice in the mail each time items
are paid. The notice will
show the check number, amount and
the NSF fee. You will need
to subtract the total fees when
balancing your checkbook.
What
if I go beyond my Bounce
Protection limit?Overdrafts above and beyond
your established Bounce Protection
limit may result in a check or
checks being returned to the
payee. The standard NSF fee
will be charged per item and
assessed to your account. An
NSF notice will be sent to notify
you of our actions.
How
quickly must I repay my Bounce
Protection?
You should make every attempt to
bring your account to a positive
balance within 30 days. If
you are not able to do so, you
will receive a letter from Thumb
National Bank & Trust Company
informing you of the situation and
your options. If, after a
period of time, your account has
not been brought to a positive
balance, we may suspend your
account and take other steps to
recover the funds.
What
does my Bounce Protection
privilege cost?
There is no additional cost
associated with this privilege
unless you use it. You will
be charged our standard NSF fee of
$27 for each item created by check
or through in-person withdrawals,
ATM withdrawals or other
electronic means paid under the
limit. (For example,
three paid items in one day will
result in $81 in NSF fees.)
What
are some of the ways I can access
my Bounce Protection limit? Will
my limit be reflected in the
balance I receive?
The chart below 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.
How
soon can I use my Bounce
Protection?
If you are a new account holder,
you will be able to use the
overdraft privilege service 30
days after the account is opened.
What
are some of the other ways I can
cover overdrafts at Thumb National
Bank & Trust Company?
The best way to avoid overdrafts
and bounced check fees is to mange
your account so you don't overdraw
it. However, if a mistake
occurs, Thumb National Bank &
Trust Company offers additional
ways to cover overdrafts in
addition to Bounce Protection.
What
if I do not want to have Bounce
Protection on my checking account?
Bounce Protection costs you
nothing unless you use it.
However, if you would like to have
this service removed from your
account, please call 866-862-3113.
