An insufficient balance could result in several ways, such as (a) the payment of checks, electronic funds transfer, or other withdrawal requests, (b) payments authorized by you, (c) the return of unpaid items deposited by you, (d) the imposition of bank service charges, or (e) 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. However, if you maintain your account in good standing, defined as making regular deposits to bring your account to a positive balance at least once every 30 days, and there are not legal orders outstanding, we may approve your reasonable overdrafts as a non-contractual courtesy. Normally we will not approve an overdraft for you in excess of your limit plus our overdraft charge. We may refuse to pay an overdraft for you at any time, although we may have previously paid overdrafts for you.
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 insufficient funds handling fee charge(s) 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 (l) 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 insufficient funds handling fee charge(s). You should note that your Bounce Protection® limit might be included in your available balance provided by a teller, on your ATM statement, on NetTeller or through our Bankline 24.
Limitations: Available to individually owned accounts in good standing for personal or household use. The First National Bank of Oneida reserves the right to limit participation to one account per household and to discontinue this product with 30 days prior notice.
Frequently Asked Questions
- How does First National Bank's Bounce Protection work?
- What is the benefit to me?
- How do I know when Bounce Protection has been used?
- How much does Bounce Protection cost?
- I have more than one account. Is Bounce Protection available for all of my checking accounts?
- How can I access Bounce Protection?
- Okay, what happens if I exceed my limit?
- How soon must I settle my account when Bounce Protection is used?
- What if I don't want Bounce Protection?
- How can I find out more information or my preset limit?
Q: How does First National Bank's Bounce Protection work?
A: As an FNB checking customer you receive a Bounce Protection Limit. There is a 60 day delay before new accounts are covered by Bounce Protection.
Should an overdraft occur, you'll be covered until you exceed your limit.
Checks covered by Bounce Protection are still subject to our standard NSF/OD (non-sufficient funds/overdraft) fee that will be deducted from your account.
Q: What is the benefit to me?
A: Instead of sending a check back to the payee, who can tack on a service charge of their own, we cover your check (up to your preset limit) and no one else has to know.
Q: How do I know when Bounce Protection has been used?
A: We'll notify you by mail each time the service is used. We'll tell you the check number, amount paid and the standard per item NSF/OD fee charged by First National Bank.
Q: How much does Bounce Protection cost?
A: FNB Bounce Protection costs you nothing unless you write a check for more than you have on deposit in your account.
When your check (or other withdrawal request) exceeds the amount you have on deposit and accesses your Bounce Protection, the only cost to you is our standard per item NSF/OD fee.
Q: I have more than one account. Is Bounce Protection available for all of my checking accounts?
A: Absolutely! Bounce Protection works on all your personal checking accounts. However, Bounce Protection is not available for business checking accounts.
Q: How can I access Bounce Protection?
A: Make an ATM withdrawal
Use your Debit Card
Write a check
Transfer funds electronically
Q: Okay, what happens if I exceed my limit?
A: When you exceed your limit, checks may be returned to the payee and the standard NSF/OD fee will be charged to your account.
Q: How soon must I settle my account when Bounce Protection is used?
A: The sooner the better, obviously. If your account is not brought to a positive balance within 30 days, we'll send you a letter explaining your options. Should the account remain in arrears, we'll be forced to close the account and take appropriate steps to recover funds.
Q: What if I don't want Bounce Protection?
A: You may choose not to have Bounce Protection by signing a Waiver of Limit form at the FNB office nearest you.
Q: How can I find out more information or my preset limit?
A: Central 663-2395
Huntsville 663-3461
Oneida 569-8586
Winfield 569-6386
Bookkeeping 663-4044
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