A service provided by most banks that gives the bank the option (but not the obligation) to cover transactions when a customer has insufficient funds in their account. The bank charges an overdraft fee for each check that would otherwise have bounced. The bank may also charge a daily fee for each day that the customer fails to pay off these overdraft balances and bring their account current. Unlike a formal overdraft protection plan, customers are automatically enrolled in bounce protection and must opt out if they do not wish to have this service.
Related information about bounce protection:
- Overdraft - Wikipedia, the free encyclopedia
Larger banks tend not to offer bounce protection plans, but instead process ... Bounce protection plans have some superficial similarities to overdraft lines of ...
- Century Bank - Personal - Checking - Bounce Protection
Overdraft Bounce Protection For Your Checking Account. What is ... We have standard overdraft Bounce Protection practices that come with your account.
- Yellowstone Bank - Bounce Protection
Bounce Protection is a discretionary overdraft service requiring no action on your part that provides you a safety net up to an automatically assigned overdraft ...
- State Bank and Trust: Bounce Protection
Bounce protection from State Bank & Trust automatically provides overdraft protection to your checking or money market account 30 days after opening.
- Bounce Protection ~ - Robins Federal Credit Union
Bounce Protection. SM. ~. An insufficient balance can result from several events, such as (1) the payment of checks, electronic funds transfers or other ...
- Checking Account Bounce Protection - First Reliance Bank
Bounce Protection gives you an extra level of protection against unanticipated cash flow emergencies and account reconciliation errors.
- Bounce protection - The Free Dictionary
a. The act of overdrawing a bank account. b. Abbr. OD or o/d The amount overdrawn. c. The maximum amount of credit extended to a customer.
- Bounce Protection Report - Consumer Federation of America
Bounce protection works like this: Participating banks advertise to ... Bounce protection coverage can be accessed through payment methods other than ...