A special service for your personal checking account
Anyone can make a mistake when balancing their checking account. At times a mistake can cause a check to be returned due to insufficient funds. This can be inconvenient and a potentially embarrassing experience.
At The Pataskala Banking Company, we do not encourage overdrafts, as always; we encourage you to manage your finances responsibly. However, we want you to avoid additional merchant fees and possible damage to your credit that might result if a check is returned. That’s why we provide Bounce Protection®; a special overdraft service for The Pataskala Banking Company’s customers.
What is Bounce protection®:
- Bounce protection® is a discretionary overdraft service that provides you a safety net up to an automatically assigned overdraft limit.
- Your bounce protection limit may be available for checks and other transactions made using your checking account number or automatic bill payment and recurring debit card payment.
How does bounce protection® work?
- As long as you maintain your account in "good standing", defined as (1) making regular deposits and bringing your account to a positive 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, The Pataskala Banking Company may approve your overdraft up to the Bounce Protection® limit on your account. If you use Bounce Protection®, you should remember the bank's normal insufficient (NSF) fee for each transaction will be deducted from your limit. You will receive an overdraft notice in the mail each time an overdraft occurs. No interest will be charged on the overdraft balance.
what if I go beyond my bounce protection® limit?
Overdrafts above and beyond your established Bounce Protection® limit may result in a check or other items being returned to the payee. The Returned NSF fee 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 as possible, no later than 30 days. If you are not able to do so, you will receive a letter from The Pataskala Banking Company informing you that your Bounce Protection® limit has been suspended and additional items will be returned. 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 other steps to recover 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 Paid NSF Charge of $30.00 for each overdrawn item created by a traditional paper-based check, a teller withdrawal, an automatic payment (ACH) transaction or a recurring debit card payment.
How soon can I use my Bounce Protection® limit?
If you are a new customer, we will advise you 30 or more days after your account is opened that you may use the Bounce Protection® service. This is provided you have maintained satisfactory activity in your account, including regular deposits, consistent with our internal standards for new accounts types that may offer Bounce Protection®.
What is my bounce protection® limit?
To find your limit, simply locate your account type in the listing below:
- IDeal Checking....$400.00
- Interest Checking....$300.00
- Money Market Check Saver....$500.00