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 First Reliance Bank, we do not encourage overdrafts. To avoid fees, we encourage you to manage your finances responsibly by keeping track of your account balance and reconciling it regularly. 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 Protection, a special overdraft service for First Reliance Bank's customers.
Sign Up Now for Bounce Protection PLUS!
FAQ's About Bounce Protection
Bounce Protection Customer Overdraft Disclosure
An insufficient balance can result from several events, such as (1) the payment of checks, electronic funds transfer 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 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 Bounce Protection consideration, your account is in "good standing" if you (1) 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); and (2) there are no legal orders, levies, or liens against your account. You may be charged up to a maximum of 12 fees per day; 6 fees per day for items automatically paid through Bounce Protection, plus 6 fees per day for items reviewed by a banker. In addition, we waive the paid item fee (overdraft) if the end of day overdrawn balance settles at ($3.00) or less after the posting of each transaction (for items paid through Bounce Protection). You may opt out of the privilege 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 paid item fee (overdraft) of $37 per item will be deducted from the overdraft limit. We may refuse to pay an overdraft item at anytime 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 above, or if based upon 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 a returned item fee (NSF) of $37 for each item returned. A returned item may be presented to us multiple times and multiple Returned Item (NSF) Fees may be charged. You understand that we do not monitor or control the number of instances an item is presented for payment. 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 including our paid item fee (Overdraft) and/or a returned item fee (NSF) that you owe us shall be due and payable upon demand, but if no demand is made, no later than 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.