Bounce Protection

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 (Bounce Protection limit) amount will be automatically assigned. New accounts must deposit two times the bounce limit within 30 days to be activated.  Bounce Protection will only be available on checks and ACH transactions unless you opt-in to be charged for ATM and debit card transactions.

How does Bounce Protection work?

As long as you maintain your account in good standing (defined as making regular deposits and bringing your account to a positive balance at least once every 30 days), Coulee Bank may honor overdrafts up to the Bounce Protection limit on your account. If you use Bounce Protection, you should remember the Bank’s normal Bounce fee for each transaction will be deducted from your limit. The Bounce fee is deducted from your account each time an insufficient check or debit item is presented for payment from your account. As in the past, the bank will notify you by mail when an overdraft occurs. No interest will be charged on the overdraft balance. This is not a line of credit.

How do I know when I have used 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 Bounce fee. You should subtract total fees from your checkbook. Remember, the fee for paying an item is the same as for returning one.

I have two checking accounts.  Can I get Bounce Protection on both?

Yes. If you have multiple accounts for you 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 normal return item fee will be charged per check and assessed to your account.  A return item notice will be sent to notify you of our actions.  We will also assess a $3 continuous overdraft fee.  A continuous overdraft fee is a daily fee for an outstanding overdraft status.  Typically, we will charge this continuous overdraft fee after the 2nd business day and for each business day that your account is overdrawn and continues to have a negative (overdraft) balance.

What are some of the ways I may have access to Bounce Protection?

Generally, you may access your Bounce Protection through:

  • Checks and other debits cashed at teller windows
  • ACH debit transactions
  • Checks issued to a third party
  • Home Branch services
  • ATM and/or debit card transactions (if you have opted in to be charged)

How quickly must I repay my Bounce Protection?

You should make every attempt to bring your account to a positive balance within 30 days. If you are not able to do so, you will receive a letter from Coulee Bank informing you of the situation and your options. If, after a period of time, your account has not been brought to 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 if you bring your account to a positive balance once every 30 days. As stated previously, you should keep in mind that you will be charged a Bounce fee for each check paid under the limit.  The current Bounce/Overdraft Fee is $30.

How soon can I use my Bounce Protection?

If you are a new active account holder, you will be able to use the overdraft privilege 30 days after the account is opened. You have the right to terminate your Bounce Protection service at any time.

What is my Bounce Protection limit?

To find your Bounce Protection limit, simply locate your account type in the listing below.

Account

Bounce Protection Limit

Free Checking

$300

Kasasa Cash

$300

Kasasa Cash Back

$300

Kasasa Tunes

$300

Gold Club Checking (Gold Club)

$750

Money Market

$1000


When I use Coulee Bank's Internet Banking, is my Bounce Protection limit included?

Yes. Your available balance shown on Internet Banking may include the overdraft limit assigned to your account.

Will Bounce Protection cover all of my transactions?

Your Bounce Protection limit may be available for each item paid under the limit created by checks and other transactions made using your checking account number, such as a teller withdrawal, an automatic payment (ACH) transaction, an automatic bill payment, or recurring debit card payments. Also, at your request, we may authorize and pay ATM transactions and everyday debit card purchases using your limit. Click here to opt-IN to overdraft on your ATM/Check Card.


What are some other ways I can cover overdrafts at Coulee 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, Coulee Bank offers additional ways to cover overdrafts in addition to Bounce Protection.

Ways to Cover Overdrafts at Coulee Bank

Examples of Associated Fees

Good account management

$0

Link to savings/checking account

Sweep fee of $5 for each transfer

Overdraft line of credit

18% APR

Bounce Protection

Overdraft Item Fee of $30 for each item


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 (608) 784-9550.

Additional Questions?

If you have additional questions or would like more information, please contact us.

 

An overdraft balance could result in several ways, such as (1) the payment of checks, electronic funds transfers, or other withdrawal requests; (2) payments authorized by you; (3) the return, unpaid, of items deposited by you; (4) the imposition of 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 funds. However, if you maintain your account in good standing (defined as making regular deposits and bringing your account to a positive balance at least once every 30 days) and there are no 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 the pre-determined amount assigned to your account type, plus our overdraft item fee charge(s). 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 notified by mail of any overdraft 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 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 (1) 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 fee charge(s).


You should note that your Bounce Protection® limit may be included in your available balance when provided by a teller and through Internet Banking.

LIMITATIONS:  Available to individual/jointly owned accounts in good standing for personal or household use.  Coulee Bank reserves the right to limit participation to one account per household and to discontinue this product without prior notice.

 


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