No Bounce Advantage Policy

No Bounce Advantage is an overdraft privilege service where an automatic No Bounce limit is assigned to some account types and is available either two months after the account is opened or after the account has been open for 12 months and your relationship has been reviewed if you did not qualify for No Bounce at the time of account opening. The checking accounts that offer a No Bounce Advantage limit are:

Student Checking $100.00
Basic Checking $300.00
Preferred Checking $300.00
Senior Checking $300.00
Peoples Bank Rewards Checking $750.00
Premium Checking $750.00
MAX Money Market Account $750.00

The Bank is not obligated to pay any insufficient items (NSFs). However, if you maintain your account(s) in good standing, you make regular deposits and you don’t have too many overdrafts, we may approve reasonable overdrafts up to your No Bounce Advantage limit as a non-contractual courtesy.

Our No Bounce Advantage overdraft protection will provide you the peace of mind you need for those times the cash in your checking account may run a little short. Ideally you wouldn’t want to overdraw your checking account. No Bounce Advantage can protect you when a situation presents itself or if an honest mistake is made in the checkbook register and save you from merchant fees or possible damage to your credit. You can have the peace of mind of knowing your checks and other debits will be honored and avoid the embarrassment one little mistake could cause. If overdrafts exceed the limit assigned to your account, it may result in checks or other debits being returned to the payee and a Non-Sufficient Funds (NSF) fee per item being assessed to your account.

There is no cost associated with the No Bounce Advantage privilege unless you use it. You can have this service removed from your account by calling 828-466-1765 or Toll Free 877-802-1212. If you use the service, the Non-Sufficient Funds (NSF) fee is $36.00 for each item. An insufficient balance can result from the payment of checks, electronic funds transfers or other withdrawals and payments authorized by you, the return of unpaid items you have deposited, bank service charges or the deposit of items not yet collected in accordance with the Funds Availability Policy. The amount of any overdraft plus the $36.00 Non-Sufficient Funds fee is due and payable on demand. You should bring your account to a positive balance as soon as possible within 30 days. If your account is not brought to a positive balance within 30 days, checks or other debits may be returned unpaid and you will receive a letter outlining your options. We may suspend your account and take steps to recover the funds.

You can access your No Bounce Advantage limit at the following points but it will not be reflected in your available balance:

  • Teller
  • Writing a check
  • Check/Debit Card*
  • ATM Withdrawals*
  • ACH-Auto Debit

*Requires Debit Card/ATM Opt In request. Call (877) 802-1212 or visit one of our offices to arrange for your Debit and ATM Card coverage.

You can also access your No Bounce Advantage limit through Internet Banking and it will be reflected separately from the available balance at this access point.

You will be mailed a notice whenever items are paid using the No Bounce Advantage overdraft privilege showing the amount, the check number (if applicable) and the Non-Sufficient Funds fee so you will know the amount to subtract when balancing your checkbook.

While it is always best to maintain your account in a manner where overdrafts do not occur, sometimes accidents do happen. In addition to No Bounce Advantage, Peoples Bank offers Redi-Advantage Overdraft Line of Credit at an annual percentage rate of 17% (subject to change without notice and subject to credit approval) and an Overdraft Protection Program at a cost designated on the current Schedule of Fees for customers that maintain a savings account in good standing with Peoples Bank.

No Bounce Advantage

Customer Overdraft Policy

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.

However, if you maintain your account(s) in good standing, we may approve your overdrafts within your current available No Bounce Advantage limit as a non-contractual courtesy. Your account is in good standing if you (1) demonstrate responsible account management—such as making regular deposits to bring your account to a positive end-of-day balance at least once every 30 days (including the payment of all bank fees and charges); (2) avoid excessive overdrafts suggesting the use of No Bounce Advantage as a continuing line of credit; and (3) there are no legal orders, levies or liens against your account.

In addition, based upon our review of your account management, if we determine you may be using No Bounce Advantage as a regular line of credit by creating excessive overdrafts, we may suspend the privilege without any prior notice. In the normal course of business, we pay ATM and Debit Card transactions first in chronological order, checks that you have written are paid in check number order, and all other transactions are paid from the lowest amount to the highest amount. 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.

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 Non-Sufficient Funds (NSF) fee of $36.00 per item will be deducted from the overdraft limit.

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 charged a returned item Non-Sufficient Funds (NSF) fee of $36.00 for each item returned. 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 plus our paid item Non-Sufficient Funds (NSF) fee of $36.00 and/or a returned item Non-Sufficient Funds (NSF) fee of $36.00 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 one 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 paid item Non-Sufficient Funds (NSF) fee of $36.00.

No Bounce Advantage should not be viewed as an encouragement to overdraw your account. As always, we encourage you to manage your finances responsibly. If you would like to have this service removed from your account, please call (828) 466-1765 or (877) 802-1212. You can get more information about managing your account at www.fdic.gov/­consumers/­overdraft/­index.html.

Please note that your No Bounce Advantage will not be reflected in your balances provided through Internet Banking.

LIMITATIONS: No Bounce Advantage is a non-contractual courtesy that is available to individually/jointly owned accounts in good standing for personal or household use. Peoples Bank reserves the right to limit participation to one account per household and to discontinue this service without prior notice.

Revised 11/01/2017