A Safety Net for Unexpected Overdrafts

Personal Overdraft Protection

Unexpected expenses can lead to insufficient funds in your checking account, causing fees and inconvenience.

At First Reliance Bank, we encourage responsible financial management. However, to support you during unforeseen circumstances, we offer Bounce Protection, a specialized overdraft service that helps you avoid merchant fees and safeguard your credit history from returned checks.

First Reliance Bank/Personal/Personal Banking/Checking Accounts/Overdraft Protection

Important Information About

Bounce Protection

Under federal regulation requirements, we cannot intentionally pay your overdraft ATM and everyday debit card transactions without your permission. You must consent consent by completing and submitting the Overdraft Opt-In Form.

Bounce Protection Tips – FAQ

We do authorize and pay overdrafts for the following types of transactions:

  • First Reliance Bank Checks and other transactions made using your checking account number
  • ACH transactions
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:

  • ATM transactions
  • Everyday debit card transactions (such as gas, grocery, and other purchases made using your debit card)

If we do not authorize and pay an overdraft, your transaction will be declined.

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Bounce Protection PLUS!

To authorize First Reliance Bank to pay overdrafts on your ATM and everyday debit card transactions for all your accounts, please complete the Overdraft Opt-In Form.

Important Information About Bounce Protection

Your checking account comes with a convenient feature called Bounce Protection, which helps protect you against cashflow emergencies or account errors in your checking account. However, you are missing out on full access to Bounce Protection unless you take specific action!

Under federal regulation requirements, we cannot intentionally pay your ATM and everyday debit card transactions without your permission. You must consent to having us pay your ATM and everyday (one-time) debit card transactions.  You can give us consent by completing and submitting the Overdraft Opt-In Form.

What You Need to Know about Overdraft and Overdraft Fees:

What are the standard overdraft practices that come with my account (Bounce Protection)?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • ACH transactions
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:

  • ATM transactions
  • Everyday debit card transactions (such as gas, grocery, and other purchases made using your debit card)

If we do not authorize and pay overdraft, your transaction will be declined.

What fees will I be charged if First Reliance Bank pays my overdraft?

  • We will charge you a fee of $37.00 each time we pay an overdraft
  • Also, if your account is overdrawn for 5 or more consecutive business days, we will charge an additional $1.00 per day
  • There is a limit of $222 on the total fees we can charge you for overdrawing your account per day.

What if I want First Reliance Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (888) 543-5510 or simply fill out the form on this page.

 

Right to Revoke Consent

If you have given your consent to have First Reliance Bank authorize and pay overdrafts on ATM and everyday debit card transactions, you may revoke that consent at any time by notifying First Reliance Bank as follows:

Call our Customer Care Call Center at (888) 543-5510 or stop by a branch and talk to a First Reliance Banker.

(If this is a joint account, any one of you may revoke consent on behalf of the other account holder(s).)

    FAQs About Bounce Protection

    What fees will I be charged if First Reliance Bank pays my overdraft?

    We will charge you a fee of $37.00 each time we pay an overdraft.

    Also, if your account is overdrawn for 5 or more consecutive business days, we will charge an additional $1.00 per day.

    What is Bounce Protection?

    Bounce Protection is a discretionary overdraft service requiring no action on your part that provides you a safety net up to an assigned overdraft limit.

    Your Bounce Protection limit may be available for checks and other transactions made using your checking account number. If you request us to do so (opt-in), we may authorize ATM transfers or withdrawals and everyday debit card purchases using your available balance and your Bounce Protection limit. For Non-Consumer (Business) accounts, the limit may be available for ATM and everyday debit card transactions with no action required.

    Why doesn't Bounce Protection automatically include all types of transactions for consumer accounts?

    Federal regulations require that financial institutions obtain your consent before authorizing and paying overdrafts for ATM and everyday debit card transactions on consumer accounts. Therefore, unless you opt-in, these transactions will not be covered by Bounce Protection.

    Bounce Protection Customer Overdraft Disclosure

    An insufficient balance can result from several events, such as (1) the payment of checks, electronic funds transfer 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); and (2) there are no legal orders, levies, or liens against your account. You may be charged up to a maximum of 12 fees per day; 6 fees per day for items automatically paid through Bounce Protection, plus 6 fees per day for items reviewed by a banker. In addition, we waive the paid item fee (overdraft) if the end of day overdrawn balance settles at ($3.00) or less after the posting of each transaction (for items paid through Bounce Protection). 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 fee (overdraft) of $37 per item will be deducted from the overdraft limit. We may refuse to pay an overdraft item at anytime 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 review of your account management, we determine that you have too many overdrafts or are using Bounce Protection as a regular line of credit. You will be charged a returned item fee (NSF) of $37 for each item returned. A returned item may be presented to us multiple times and multiple Returned Item (NSF) Fees may be charged. You understand that we do not monitor or control the number of instances an item is presented for payment. 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 including our paid item fee (Overdraft) and/or a returned item fee (NSF) that you owe us shall be due and payable upon demand, but if no demand is made, 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.

    The processing order of these items is important because if there is not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraft or non-sufficent funds fees or increase in the amount of these fees. In the normal course of business for consumer accounts, we generally pay electronic transactions first, by low to high ($), and then checks by serial number, 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 fee (overdraft) for each overdraft item paid. 
    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 (888) 543-5510.
    Please note that your Bounce Protection limit may be available for covering overdrafts created at the teller window, ATM, through a POS transaction, Online Banking and Telephone Banking. 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/joint owned accounts in good standing for personal or household use. First Reliance reserves the right to limit participation to one account per household and to suspend, revoke, or discontinue this service without prior notice.

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