Bounce Protection

Do I have Bounce Protection?

At times, unanticipated expenses can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be an embarrassing and humiliating experience. At Clear Lake Bank & Trust Company, we want to do our part to save you from the possibility of ever having this occur.

That's why we created Bounce Protection®, a special overdraft privilege for Clear Lake Bank & Trust Company checking customers. With this feature activated on your checking account, you will know that your transactions will be honored up to your Bounce Protection® limit.

What is Bounce Protection®?

Bounce Protection® is an overdraft privilege requiring no action on your part. You do not have to sign anything. Your overdraft privilege (Bounce Protection® limit) amount will be automatically assigned according to your personal checking account.

How does Bounce Protection® work?

As long as you maintain your account in good standing (defined as making regular deposits and bringing your account to a positive balance at least once every 30 days), Clear Lake Bank & Trust may honor overdrafts up to to the Bounce Protection® limit on your account. When you use Bounce Protection®, you must keep in mind that the bank's normal insufficient funds (NSF) fee for each transaction will be deducted from your limit. The NSF fee is deducted from your account each time an insufficient check or debit item is presented for payment from your account. As in the past, the bank will notify you by mail when an overdraft occurs. No interest will be charged on the overdraft balance.

How do I know when I use the overdraft limit?

You will receive an overdraft notice in the mail each time items are paid. The notice will show the check number, amount and the NSF fee. You should subtract the total fees from your checkbook.

I have two checking accounts. Can I get Bounce Protection® on both?

Yes. If you have multiple accounts for your household, you may have a limit on all eligible accounts.*

What if I go beyond my 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 normal NSF return fee will be charged per check and assessed to your account. An NSF notice will be sent by mail to notify you of our actions.

What are some of the ways I may have access to Bounce Protection®?

Generally, you may access your Bounce Protection® through:

• Checks and other debits cashed at teller windows.
• Internet Banking
• ATM/VISA Check Card
• ACH debit transactions
• Checks issued to a third party
• All transactions that currently are honored through your account

How quickly must I repay my Bounce Protection®?

You should make every attempt to bring your account to a positive balance within 30 days. If you are not able to do so, you will receive a letter from Clear Lake Bank & Trust informing you of the situation and your options. If, after a period of time, your account has not been brought to a positive balance, we will have no option but to close your account and take other steps to recover funds.

What does my Bounce Protection® privilege cost?

There is no additional cost associated with this privilege. However, you should keep in mind that you will be charged an NSF fee for each check or debit paid under Bounce Protection.

Do business checking accounts qualify for Bounce Protection®?

No, only personal checking accounts qualify for Bounce Protection®.

How soon can I use my Bounce Protection®?

This service will be available to our new customers after a 30-day waiting period.

What is my Bounce Protection® limit?

To find your Bounce Protection® limit, locate your account type in the listing below.

• Free Checking - $300
• New Generation Checking - $500  
• Regular Checking - $500
• All Other Checking - $1,000

When I call Clear Lake Bank & Trust's 24-Hour telephone banking service to get my balance, is my Bounce Protection® limit included?

No. The balance reflected through telephone banking will not include the overdraft limit assigned to your account.

Will the Bounce Protection® limit be reflected when I check my balance using Internet Banking?

The assigned Bounce Protection® limit will not be included in your current balance shown on Internet Banking. However, when you make a transfer, you will see the Bounce Protection® limit included in your available funds for transfer amount.

* Clear Lake Bank & Trust Company reserves the right to limit participation to one account per household and to discontinue this product without prior notice.

An insufficient balance could result in several ways, 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) the imposition of 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 in good standing (defined as making regular deposits and bringing your account to positive balance at least once every 30 days) and there are no legal orders outstanding, we may approve your reasonable overdrafts as a non-contractual courtesy. Normally, we will not approve an overdraft for you in excess of the predetermined amount assigned to your account type, plus our Insufficient Funds handling fee charge(s). 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 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 Insufficient Funds handling fee charge(s) 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 (1) 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 Insufficient Funds handling fee charge(s).

You should note that your Bounce Protection® limit may be included in your available balance provided by a teller, on your ATM receipt, and Internet Banking, but will not be reflected through our First Phone 24-hour telephone banking service.

LIMITATIONS: Available to individually/jointly owned accounts in good standing for personal or household use. Clear Lake Bank & Trust Company reserves the right to limit participation to one account per household and to discontinue this product without prior notice.