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Frequently Asked Questions
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 amount is $300.00.
How does Bounce Protection work?
- As long as you maintain your account in good standing, First Bank will honor overdrafts up to the Bounce Protection limit on your account.
- When you use Bounce Protection, the bank's overdraft protection fee (ODPF) for each transaction will be deducted from your limit. The fee applies to overdrafts created by check, in-person withdrawals, ATM withdrawals, or other electronic means as applicable.
- As in the past, the bank will notify you by mail when an overdraft occurs. The notice will show the check number, amount and the overdraft item charge. You should subtract total charges from your checkbook.
- No interest will be charged on the overdraft balance.
What if I go beyond my Bounce Protection limit?
Overdrafts above and beyond your 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. A NSF notice will be sent to notify you of your actions.
Remember - whether your overdrafts 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 deposits, or you have too many overdrafts.
What about ATM services?
Yes, you can access your Bounce Protection by using your ATM card. Other transactions that will be honored under the program include:
- Checks and other debits cashed at teller windows
- VISA Check Card purchases
- ACH debit transactions
- Checks issued to a third party
- All transactions that currently are honored
How quickly must I repay my Bounce Protection?
You should make every effort to bring your account into a positive balance within 30 days. If you are not able to do so, you will receive a letter from First 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 steps to recover funds.
What does my Bounce Protection privilege cost?
There is no additional cost associated with this privilege.
As stated previously, you should keep in mind that you will incur an overdraft item charge for each check paid under the $300 limit.
Remember, checks drawn up to the limit will not be returned, saving you the embarrassment and expense associated with the merchant's returned check fee.
This privilege can save you money!
How soon can I use my Bounce Protection?
Existing account holders in good standing may use the overdraft privilege immediately.
If you are a new account holder and maintain a satisfactory account, you will be able to use the overdraft privilege after 30 days.
I have two checking accounts, do I get Bounce Protection on both?
Yes. If you have multiple accounts you have a $300.00 Bounce Proctction limit on all eligible accounts.
What about Phone First Telephone Banking?
No, the balance reflected through Phone First will not include the overdraft limit assigned to your account.
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