Looking for protection from bounced checks? CNB has the answer … a special overdraft-avoidance service available to all of CNB’s personal and business checking customers.
Unexpected expenses or unforeseen emergencies 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.
AND WE CAN HELP.
At CNB, we do not encourage overdrafts. As always, we encourage you to mange your financial responsibly. 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 privilege service for CNB’s checking customers.
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 will be automatically assigned based on the type of account you choose to open.
HOW DOES BOUNCE PROTECTION WORK?
As long as you maintain your account in good standing, CNB may approve your overdrafts within your current available Bounce Protection limit. 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. Your account is in good standing if (1) you demonstrate responsible account management — such as making regular deposits to bring your account to a positive end-of-day balance at least once every 30 days (including the payment of all bank fees and charges); (2) you avoid excessive overdrafts suggesting the use of Bounce Protection as a continuing line of credit; and (3) there are no legal orders, levies or liens against your account. Please note that the amount of the overdraft plus our Overdraft NSF paid item charge of $30 for each item will be deducted from your overdraft limit. If the item is returned, the NSF returned item charge of $30 will be deducted from your account. No interest will be charged on the overdraft balance. Please refer to the customer overdraft policy for additional details.
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 Overdraft NSF paid item charge. You will need to subtract the total fees when balancing your checkbook.
IF I HAVE TWO CHECKING ACCOUNTS, CAN I GET BOUNCE PROTECTION ON BOTH?
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 NSF returned item charge of $30 will be charged per item and assessed to your account. An NSF notice will be sent to notify you of items paid and/or returned.
HOW QUICKLY MUST I REPAY MY BOUNCE PROTECTION?
You should make every attempt to bring your account to a positive end-of-day balance as soon a possible, and must do so within 30 days. If you are not able to bring your account to a positive end-of-day balance within 30 days, you will receive a letter from CNB informing you of the situation and your options. If, thereafter, your account has not been brought to a positive end-of-day 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 Overdraft NSF paid item charge of $30 for each overdrawn item created by check, in-person withdrawals or ACH transactions paid under your bounce protection limit. For example, three paid items in one day will result in $90 in Overdraft NSF paid item charges. To help you manage your account, the total fees you have paid for items (both paid and returned) during the current month and for the year-to-date will be reflected on your monthly checking statement.
WHAT ARE SOME OF THE WAYS I CAN ACCESS MY BOUNCE PROTECTION LIMIT?
Your overdraft privilege limit is available through the following access points:
• Writing A Check
• Debit Card (recurring) **
• Debit Card (everyday) **
• ATM Withdrawal **
• ACH-Auto Debit
• InTouch Voice Response
The balance provided from these access points does not reflect your overdraft privilege limit.
** Subject to Regulation E Opt-In Status
HOW SOON CAN I USE MY BOUNCE PROTECTION?
If you are a new accountholder, you may be able to use the overdraft privilege service immediately upon account opening.
WHAT ARE SOME OTHER WAYS I CAN COVER OVERDRAFTS AT COMMUNITY NATIONAL BANK?
The best way to avoid overdrafts and fees is to manage your account so you don't overdraw it. However, if a mistake occurs, CNB offers additional ways to cover overdrafts in addition to Bounce Protection:
• Good account management - $0 fee*
• Link to savings account - $0 transfer fee*
• Bounce Protection Overdraft - NSF paid item charge of $30 each
*These costs are provided only as examples. Please ask us about our specific products and fees.
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 (830) 426-3066. To inquire about CNB Bounce Protection, just visit your nearest CNB Banking Center.
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