BOUNCE PROTECTION

Your checking account comes with a convenient feature called Bounce Protection, which helps protect you against cashflow emergencies or account errors in your checking account. However, you are missing out on full access to Bounce Protection unless you take specific action!

Under federal regulation requirements, we cannot intentionally pay your ATM and everyday debit card transactions without your permission. You must consent to having us pay your ATM and everyday (one-time) debit card transactions.  You can give us consent by completing and submitting the Overdraft Opt-In Form.

What You Need to Know about Overdraft and Overdraft Fees:

What are the standard overdraft practices that come with my account (Bounce Protection)?

We do authorize and pay overdrafts for the following types of transactions:

• Checks and other transactions made using your checking account number
• ACH transactions
• Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:

• ATM transactions
• Everyday debit card transactions (such as gas, grocery, and other purchases made using your debit card)

If we do not authorize and pay overdraft, your transaction will be declined.

What fees will I be charged if First Reliance Bank pays my overdraft?

• We will charge you a fee of $37.00 each time we pay an overdraft
• Also, if your account is overdrawn for 5 or more consecutive business days, we will charge an additional $1.00 per day
• There is a daily limit of 12 on the total fees we can charge you for overdrafting your account

What if I want First Reliance Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (888) 543-5510 or simply fill out the form on this page.

Right to Revoke Consent

If you have given your consent to have First Reliance Bank authorize and pay overdrafts on ATM and everyday debit card transactions, you may revoke that consent at any time by notifying First Reliance Bank as follows:

Call our Customer Care Call Center at (888) 543-5510 or stop by a branch and talk to a First Reliance Banker.

(If this is a joint account, any one of you may revoke consent on behalf of the other account holder(s).)

Bounce Protection is an overdraft privilege limit that is automatically assigned to your account and gives you an extra level of protection against unanticipated cash flow emergencies and account reconciliation errors. There is no action required on your part. You do not have to sign anything.

Under Regulation E for consumer accounts, we will not intentionally pay your ATM and everyday (one-time) debit card transactions that overdraw your account without your permission. You must consent to having us pay your ATM and everyday (one-time) debit card transactions that overdraw your account for which you will incur our standard overdraft fee of $37.

Your ATM and everyday (one-time) debit card transactions will be declined in the event of an overdraft, unless you have other Overdraft Protection services. Our standard overdraft services, such as Overdraft Transfer/Sweep and Overdraft Protection Line of Credit, will continue to be in effect for your checks and automatic bank payments.

Your linked Overdraft Protection account will continue to function the same way as it does today.

Your Overdraft Protection Transfer/Sweep allows us to automatically transfer available funds to your checking account to cover any overdraft on your account. However, if you do not have enough available funds in your linked account to cover your ATM and everyday (one-time) debit card purchases, they will be declined. Choosing to opt-in to have your ATM and everyday (one-time) debit card transactions included as a part of Bounce Protection could provide an additional layer of coverage in the event you exhaust other sources of Overdraft Protection.

Unfortunately, people slip up from time to time, so the occasional overdraft can happen and we want to try to pay those transactions. If it happens, opting in may allow your ATM withdrawals and everyday (one-time) debit card purchases to be accepted, which saves you the humiliation of being declined and/or leaving you in a position where you may be unable to complete the transaction for an urgent purchase.

No, the bank has the discretion to approve or decline a transaction that causes the account to become overdrawn. It is our policy to strive to pay all overdraft items when possible.

You will be charged a fee each time we pay an overdraft, with a limit of $222 in charges per day. You may also be assessed additional fees if your account remains overdrawn.

No, the changes made to Regulation E only apply to ATM and everyday (one-time) debit card transactions. Items such as checks, ACH transactions and recurring debit card transactions are handled under our standard Bounce Protection service. When you do not have sufficient available funds to cover these types of items, the bank, at its discretion, may pay the item(s) resulting in an overdraft fee(s).

The changes made to Regulation E do not affect the way we process overdrafts on recurring debit card transactions, checks and other transactions made using your checking account. We will continue to exercise our discretion in paying these overdrafts.

You may call  or visit a branch at any time to opt in to have your ATM and everyday (one-time) debit card transactions included as a part of Bounce Protection Plus. The request will become effective no later than the following two business days.

Yes, you may change your ATM and everyday (one-time) debit card transactions choice at any time; however, each time you make a change it will not go into effect until the following two business days. You will receive a Confirmation Notice each time you change your selection.

Only one authorized signer per account has to opt in or opt out for an election to take place.

No, Regulation E applies to consumers only. All business transactions will be processed under the bank’s standard overdraft practices.