Online Banking

Overdraft Protection and Money Management Tips

Your Guide to Preventing and Managing Overdraft Fees

What is Bounce Protection?

Bounce Protection is an overdraft privilege limit that provides you protection against unanticipated expenses or unforeseen problems. Jefferson Security Bank offers Bounce Protection on most checking accounts. With this protection, JSB will “pay” items that would result in your account being overdrawn up to a limit of $500.00.  There is no additional cost for this service unless you use it. 

How does Bounce Protection work?

Since having a transaction declined or check returned due to insufficient funds can be a costly and embarrassing experience, JSB’s Bounce Protection allows you to rest easy knowing your bills will be paid.  If you write a check from your account without sufficient funds, the Bank may "pay" (cover) the transaction up to the $500.00 limit and overdraft fees will be assessed. Without this protection, the Bank may charge you a “non-sufficient funds” (NSF) fee and the merchant also may charge you a returned check fee. This protection is also available to ATM and everyday debit card payment transactions. However, these transactions will only be authorized and paid if you have opted-in to our Overdraft Protection Program.

How do I avoid Overdraft Fees altogether?

JSB encourages you to manage your finances responsibly but also knows that emergencies or unexpected circumstances happen. The following tips may help you avoid overdraft fees altogether.

  1. Watch Your Account Balance Regularly.  JSB provides you many options to monitor your account balances including paper check registers, 24 hour telephone banking, online banking and our JSB mobile app.  Remember to track and record all ATM withdrawals, debit card transactions, automatic payments and checks. It is also a good idea to keep a cushion of funds in your account to help prevent unintended overdrafts.
  2. Use Direct Deposit for Your Paycheck. This ensures that you will have access to your paycheck timely.
  3. Link Your Checking Account to Another JSB Account. JSB offers Sweep Protection that permits an automatic transfer of $100.00 from an account you have designated as a “sweep” account to cover transactions that would have otherwise resulted in an overdrawn balance. This service also ensures that each item is paid. A $5.00 fee is assessed for each sweep.

Please note: JSB’s Bounce Protection overdraft privilege does not constitute an actual or implied obligation of or by the Bank. The service represents a purely discretionary courtesy or privilege that the Bank may provide to you from time to time and which may be withdrawn or withheld by the Bank at any time without prior notice or reason or cause.

ATM and Point of Sale Debit Card Purchases

In 2010, federal regulations took effect that provides certain protections for bank customers when their deposit account(s) are overdrawn. Customers now have a choice whether to opt-into a bank’s overdraft program. By choosing to opt-in, the bank can charge you a fee to process point-of-sale (POS) or ATM transactions that exceed your account balance. This is called the “opt-in rule” – if you do not opt in, the bank will decline your ATM withdrawals and debit card transactions at POS terminals if you do not have enough money in your account to cover the withdrawal or purchase. If you do not opt-in but the bank pays an ATM or POS item when your account is overdrawn, the bank cannot charge you an overdraft fee.

What Should I Do if I Have a Problem?

If you have a concern about your account, contact your financial institution. Explain the problem and how you would like to see the problem resolved. If contacting the bank does not produce desired results, you can contact the bank’s federal regulator for assistance. To learn more about smart ways to manage your money, complete the FDIC Money Smart financial education program online through . You can also find financial education workshops or individualized counseling in your area.

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