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Overdraft Protection and Money Management Tips

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Overdraft Protection

We understand that life is busy.  Forgetting to record a check or debit, making a small budget miscalculation or an oversight that results in an unexpected shortage of funds can happen to anyone, no matter how carefully you manage your finances.  For these reasons and more, Jefferson Security Bank offers the convenience of Bounce Protection to cover transactions that exceed the balance in your checking account.

Overdraft Privilege

Consumer checking accounts may qualify for overdraft privilege through Bounce Protection, except Youth Checking and Second Chance Checking Accounts. This discretionary service provides built-in protection against accidental overdrafts which may be created by a check, in person withdrawals, ATM withdrawals or transactions performed by other electronic means. This protection will not be available for ATM and everyday debit card transactions unless you authorize the Bank to do so by providing an affirmative opt-in consent.

Jefferson Security Bank does not encourage you to present transactions for payment against insufficient or uncollected funds in your account. However, with this overdraft privilege, it allows us to authorize and pay items that would result in your account being overdrawn up to a limit of $500.00. There are no annual fees for this privilege. However, you will be charged an overdraft or returned item (non-sufficient/NSF) fee of $32 for each item paid plus a daily fee of $2 for each business day the account remains overdrawn starting on the second business day.

The payment of transactions resulting in an overdraft is discretionary, and the Bank reserves the right not to pay. For example, the Bank typically does not pay items into overdraft if an account is not in good standing or there have been excessive overdrafts. If there is an overdraft on an account, a deposit or transfer must be promptly made to return the account to a positive balance.

ATM and Point of Sale Debit Card Purchases

You have the choice to opt-into JSB’s overdraft privilege program for authorization and payment of overdrafts for ATM and everyday (one-time) debit card transactions. Without your affirmative opt-in consent, we will not authorize payment of ATM and everyday (one-time) debit card transactions that would overdraw your account, and the transaction will be declined. There are no fees for declined transactions.  You may opt-in or out for ATM and everyday (one-time) debit card transactions at any time by calling 304-876-9000, or stop by your local JSB office.

Sweep Protection

With Sweep Protection, you can link a designated JSB savings or checking account to your checking account so funds will be automatically transferred if you overdraw your account.  Funds will be transferred in increments of $100, with a $5 fee for each transfer.  This service ensures that each item is paid, helping you avoid overdrafts.

Avoiding Overdrafts

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

Please note: Jefferson Security Bank’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.

 

 

 

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