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 IS MY BALANCE PROTECTION LIMIT?
Locate your account type below and make note of the corresponding limit.
• Regular Community Gold Checking $400
• Personal Checking $400
• Senior Citizen Community Gold Checking $400
• Professional Checking $750
• NOW Interest Checking $1,000
• NOW Community Gold Checking $1,000
• NOW Senior Citizen Community Gold Checking $1,000
• Personal MMDA $1,000
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.
HOW SOON CAN I USE MY BOUNCE PROTECTION?
If you are a new accountholder, you may be able to use the overdraft privilege service 90 days after the account is opened, assuming you demonstrate responsible account management by making regular deposits to maintain your account with a positive balance, and there are no legal orders, levies or liens against your account.
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.
Customer Overdraft Policy
An insufficient balance can result from several events, such as (1) the payment of checks, electronic funds transfers 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 collected funds.
However, if you maintain your account in good standing, we may approve your overdrafts within your current available Bounce Protection limit as a non-contractual courtesy. Your account is in good standing if you (1) 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) 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.
In addition, based upon our review of your account management, if we determine you may be using Bounce Protection as a regular line of credit by creating excessive overdrafts, we may suspend the privilege without any prior notice. In the normal course of business, we generally pay electronic transactions first and then checks in serial number order, per the bank's policy. We reserve the right to change the order of payment without notice to you if we suspect fraud or possible illegal activity affecting your account. Also, please be aware that the order of item payment may create multiple overdrafts during a single banking day for which you will be charged our Overdraft NSF paid item charge of $30 for each overdraft paid.
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 Overdraft NSF paid item charge of $30 per item will be deducted from the overdraft limit.
We may refuse to pay an overdraft for you at any time even though we may have previously paid overdrafts for you. You will be charged a NSF returned item charge of $30 for each item returned. 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 plus our Overdraft NSF paid item charge of $30 and/or a NSF returned item charge of $30 that you owe us shall be due and payable upon demand. If there is an overdraft paid by us on an account with more than one owner on the signature card, each owner and agent, if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdraft plus our Overdraft NSF paid item charge of $30.
Bounce Protection should not be viewed as an encouragement to overdraw your account. As always, we encourage you to manage your finances responsibly. If you would like to have this service removed from your account, please call (830) 426-3066.
Please note that the balance labeled “Available Funds” may include any available Bounce Protection and deposits made during the day. Although deposited items will show in your “Available Funds,” these deposits are treated as not yet available or finally paid, in accordance with our Funds Availability Policy.
Bounce Protection: You will be charged our Overdraft NSF paid item charge of $30.00 for each item created by check, in-person withdrawals, or ACH Transaction paid under your bounce protection limit. All negative balances must be brought positive within 30 days. CNB reserves the right not to pay if your account is not kept in good standing. Please contact a customer service representative for more details.
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