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About Bounce Protection Program

At times, unanticipated expenses or unforeseen problems 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. At State Bank, we do not encourage overdrafts. As always, we encourage you to manage your finances 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 service for State Bank’s customers.

What does my Bounce Protection cost?

There is no additional cost associated with this privilege unless you use it. You will be charged our paid item charge of $35 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. Also, automatically on business accounts, and if you requested us to do so on personal accounts, we may authorize and cover ATM transfers or withdrawals and everyday debit card purchases.

For example, three paid items in one day will result in $105 in 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.

How does Bounce Protection work?

As long as you maintain your account in “good standing,” we may approve your overdraft items within your current available Bounce Protection limit as a non-contractual courtesy.

For Bounce Protection consideration, your account is in “good standing” if you

  1. Make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar 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
  3. There are no legal orders, levies or liens against your account

Please note that the amount of the overdraft plus our paid item charge of $35 for each item will be deducted from your overdraft limit. If the item is returned, the returned item charge of $35 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.

What if I go beyond my Bounce Protection limit?

Overdrafts above and beyond your established Bounce Protection limit may result in checks or other items being returned to the payee. The returned item charge of $35 will be charged per item and assessed to your account. An OD/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, and you must do so within 30 calendar days. If you are not able to do so, you will receive a letter from State Bank informing you that your Bounce Protection limit has been suspended and additional items will be returned. Unless we advise you differently or you request this service be removed from your account, your limit will be made available to cover overdrafts again after you bring your account to a positive end-of-day balance.

How soon can I use my Bounce Protection?

If you are a new customer, we will advise you one 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 the account, including regular deposits, consistent with our internal standards for new account types that may offer Bounce Protection. Once you are notified and your Bounce Protection limit is available to you, it may continue to be available provided you maintain the account in “good standing” as defined above.

What are some other ways I can cover overdrafts at State Bank?

The best way to avoid overdrafts and fees is to keep track of your account balance by entering all checks, debit card purchases and ATM withdrawals in your check register, reconcile your check book regularly and manage your finances responsibly. However, if a mistake occurs, State Bank offers additional ways to cover overdrafts in addition to Bounce Protection.

Ways to Cover Overdrafts at State Bank

Example of Associated Fees

Good account management

$0

Link to another account

$10 daily sweep transaction charge*

Bounce Protection

Paid item charge of $35 for each item

*This information is effective as of February 2017 and is provided as examples. Please ask us about our current specific products, rates and fees.

How can I get help managing my account?

Ask your State Bank representative for advice on managing your checking account. You could also consider a visit to Checking Navigator, an online service State Bank offers our clients with information to help you better understand how checking accounts work, how to manage your account and how to avoid overdraft charges.

You can browse at your convenience and take as much time as you want as you review it. Visit Checking Navigator at http://navigator.statebt.com.

  • 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 funds. As long as you maintain your account in “good standing,” we may approve your overdraft items within your current available Bounce Protection limit as a non-contractual courtesy. For Bounce Protection consideration, your account is in “good standing” if you (1) make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar 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) have no legal orders, levies or liens against your account.

    In the normal course of business, we generally pay electronic transactions first and then checks and other items in serial number order, or if no serial number is visible, from lowest amount to highest amount, 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 overdraft items during a single banking day for which you will be charged our paid item charge of $35 for each overdraft item 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 paid item charge of $35 per item will be deducted from the overdraft limit.

    We may refuse to pay an overdraft item at any time even though we may have previously paid overdrafts for you. For example, we typically do not pay overdraft items if your account is not in good standing as defined above, or, if based upon our review of your account management, we determine that you are using Bounce Protection excessively or seem to be using Bounce Protection as a regular line of credit. You will be charged a returned item charge of $35 for each item returned.

    You will be promptly notified 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 including our paid item charge of $35 and/or a returned item charge of $35 that you owe us shall be due and payable upon demand, but if no demand is made, it is due no later than 30 calendar days after the creation of the overdraft. If there is an overdraft on an account with more than one owner on the signature card, each owner and agent, if applicable, shall be jointly and severally liable for all overdrafts inclusive of fees.

    Bounce Protection should not be viewed as an encouragement to overdraw your account. To avoid fees, we encourage you to keep track of your account balance by entering all items in your check register, reconcile your check book regularly and manage your finances responsibly. If you would like to have this service removed from your account, please call 800.414.4177.

    Please note that 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, or automatic bill payment and recurring debit card payment. Also, at your request, we may authorize and pay ATM transfers or withdrawals and everyday debit card purchases using your limit. The limit will not be included in the balance provided during an inquiry.

    LIMITATIONS: Bounce Protection is a non-contractual courtesy that is available to individually/jointly owned accounts in good standing for personal or business use. State Bank reserves the right to limit participation to one account per household and to suspend, revoke, or discontinue this service without prior notice. Unless we advise you differently or you request this service be removed from your account, your limit will be made available to cover overdrafts again after you bring your account to a positive end-of-day balance.

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