Bounce Protection

As long as you maintain your account in good standing, BSV may approve overdrafts up to the available Bounce Protection limit. Whether your overdraft will be paid is discretionary and we reserve the right not to pay.(see footnote) The amount of the overdraft plus our standard NSF fee of $29.89 for each item will be deducted from your overdraft limit. In addition, there is a daily overdraft fee of $4.89 charged for every day the account remains in an overdrawn status. No interest will be charged on the overdraft balance.

When you open certain types of checking accounts you will have the option to select Bounce Protection for your account(s).

ATM and Debit Card Transactions
In compliance with federal regulations Bounce Protection will automatically apply to all transactions except for ATM or everyday debit card transactions. You must grant us permission, or opt-in to have Bounce Protection apply to these types of transactions. If you would like to opt-in please fill out the Overdraft Privilege Opt-In/Out Form.

Going beyond your Bounce Protection limit.
Overdrafts above and beyond your established Bounce Protection limit may result in a check or checks being returned to the payee. The standard NSF fee will be charged per item and assessed on your account. An NSF notice will be sent to notify you of our actions.

Repaying your Bounce Protection.
Your account must be brought into a positive balance within 30 days. If not, BSV will send you a letter informing you of the situation and your options. If your account cannot be brought into a positive balance thereafter your account will be suspended and steps will be taken to recover the funds.

Cost.
There is no additional cost associated with this privilege unless you use it. You will be charged our standard NSF fee of $29.89 for each item and a daily overdraft fee of $4.89.

Sideline Reserve

This service provides the instant cash you need to cover an overdraft, special purchase, unexpected bills or other emergencies. In the case of an overdraft BSV will automatically deposit funds into your account in multiples of $100 up to your approved credit limit. There are no interest charges unless funds are advanced to your account. Each transfer to your checking account generates a transfer fee. There is a small annual fee assessed for Sideline Reserve. This annual fee is waived for Premier Plus checking and for customers 62 or older who sign up for Prime Time Banking.

Applying for Sideline Reserve
Sideline Reserve is a credit product. It is subject to standard BSV application approval. You may apply at any BSV branch office.

Monthly Statement
Each month you will receive a separate statement for your Sideline Reserve Account. The statement will show all activity on the account, including advances made to your checking account, automatic payments, finance charges, annual fee and any payment you have made in addition to or in lieu of the minimum payment.

Repayment
Your Sideline Reserve statement will tell you the minimum payment amount due each month, based on the Automatic Payment Schedule below. The minimum payment will be automatically deducted from your checking account 10 days later. If you wish, you may repay any amount due, up to the full balance on the Sideline Reserve account, before the due date. A payment of at least the minimum amount due prior to the due date will stop automatic deduction from your checking account.