Bounce Protection

Peach State Bank & Trust personal checking account customers can receive automatic Bounce Protection, in a minimum amount of $500 ($1500 for Peach Plus Customers). If you are a new customer, we will advise you 45 or more days after your account is opened that you may use the overdraft privilege 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 your Bounce Protection limit is available to you, it may continue to be available provided you maintain the account in "good standing". Unless you opt out of the Bounce Protection service, your checks will be honored up to your defined limit, saving you not only the embarrassment of a returned check but merchant processing charges as well. At the time your automatic Bounce Protection transfers funds to cover your overdraft, a $30 overdraft fee, per item, is assessed. This fee may be imposed for covering overdrafts created by check, in person withdrawal, ATM or Debit Card withdrawal, or other electronic means. We will not assess fees for more than 6 transactions per day. In addition, we will not impose a fee when the overdrawn amount is less than $5. We reserve the right to unilaterally refuse to pay any item that is presented. Bounce Protection Re-Payment, overdrawn balances including any authorized overdraft charges/fees must be paid within 30 days of the overdraft. Deposits made to an overdrawn account will be used to cover overdrafts and authorized overdraft charges/fees.
On July 1, 2010, new Federal Reserve rules give consumers additional options regarding overdrafts in connection with your one-time debit card transactions and ATM withdrawals. As your bank we must offer you the ability to make decisions about Bounce Protection services for transactions made with your debit or ATM card.
Under the new rules, the bank must first get your permission to apply these services to one-time debit card transactions and ATM withdrawals. To grant this permission, you will need to opt in (agree) by contacting a customer service representative. If you do not opt in (agree) you will not have availability to use the Bounce Protection services for one-time debit card transactions and ATM withdrawals.