What is Bounce Protection®?
Bounce
Protection® is an overdraft privilege requiring no action on your
part. You do not have to sign anything. Your overdraft
privilege (Bounce Protection® limit) amount will be automatically
assigned.
How does Bounce Protection®
work? As
long as you maintain your account in good standing, Jackson County
Bank may honor overdrafts up to the Bounce Protection® limit on your
account. If you use Bounce Protection®, you should remember the
bank's normal insufficient funds (NSF) fee for each transaction will
be deducted from your account. As in the past, the bank will
notify you by mail when an overdraft occurs. 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 should subtract total fees from your checkbook. Remember, the fee for paying an item is the same as for returning one.
I have
two checking accounts. Can I get Bounce Protection®
on both? Yes,
if you have multiple accounts for your household, you may have a limit
on all eligible accounts.
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
normal NSF fee will be charged per check and assessed to your
account. An NSF notice will be sent to notify you of our
actions.
What are some of the ways I
may have access to Bounce Protection®?
Generally
you may access your Bounce Protection® with the following
transactions:
Checks and other
debits cashed at teller windows
ACH debit transactions
Checks issued to a third party
All transactions that currently are honored through your account
How quickly must I repay my
Bounce Protection®? You
should make every attempt to bring your account to a positive balance
as quickly as possible. If you are not able to do so, you will
receive a letter from Jackson County Bank informing you of the
situation and your options. If, after a period of time, your
account has not been brought into a positive balance, we will have no
option but to close your account and take other steps to recover
funds.
What does my
Bounce Protection® privilege cost? For each Bounce paid item, whether created by check, in-person withdrawal, ATM withdrawal, or other electronic means, you will be charged $21. There
is no additional cost associated with this privilege if you bring your
account to a positive balance as soon as possible.
How soon can I use my Bounce
Protection®?
If you are a new active account holder, you will be able to use the
overdraft privilege 30 days after the account is opened.
What is my
Bounce Protection® limit?
To find your Bounce Protection® limit, simply locate your account
type in the listing below.
