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Bounce Protection

February 4, 2023


Having a payment returned due to insufficient funds can be costly and inconvenient. That's why we provide Bounce Protection, a special overdraft privilege for The Bank of Elk River's personal checking account customers.

What is Bounce ProtectionSM?

Bounce ProtectionSM is a special service for customers in good standing to cover the occasional and accidental overdraft. This feature may save you time and the additional fees other companies charge for returned items (payments). Bounce ProtectionSM is only available on eligible checking accounts used primarily for personal and household purposes. It is not a line of credit, a right, or an obligation guaranteed to you and is a discretionary service that can be changed or withdrawn at any time, without notice.

How does Bounce ProtectionSM work?

As long as you maintain your account in good standing, The Bank of Elk River may honor overdrafts up to the Bounce ProtectionSM limit on your account. This means you will not be charged the merchant return check fee typically required when a payment is returned.

What does my Bounce ProtectionSM cost?

This service has no annual fee, and no costs associated with it until it is used. When used, each overdrawn item is assessed a Bounce Paid Item Fee of $33.00. There is a maximum daily limit of five Bounce Paid Item Fees charged.

What is my Bounce ProtectionSM limit?

Each qualifying account will automatically receive a $700 Bounce Protection limit 60 days after account opening if the following criteria are met during that period:

  • You have at least $1,500 in aggregate deposits
  • The account cannot be overdrawn for more than one day

Note: Bounce ProtectionSM is a non-contractual courtesy, and we may refuse to pay an overdraft transaction at any time, even though we may have previously paid overdrafts for you.

How do I know when I use the Bounce?

You will receive a Bounce ProtectionSM notice, including Bounce Paid Item Fees assessed each time items are paid.

How quickly must I repay my Bounce ProtectionSM?

You should make every attempt to bring your account to a positive balance within 30 days. If you cannot do so, you will receive a letter from The Bank of Elk River 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 may suspend your overdraft privilege limit and take other steps to recover funds.

What if I go beyond my Bounce Protection SM limit?

Overdrafts above and beyond your established Bounce Protection SM limit may result in an item or items being returned to the payee. The normal overdraft paid item fee or overdraft returned item fee will be charged per item and assessed to your account. So as not to exceed your limit if you use Bounce ProtectionSM, you should note that the amount of the overdraft plus our standard Bounce paid item fee for each item will be deducted from your overdraft limit.

When I check my balance, is my Bounce ProtectionSM limit included?

Your Bounce ProtectionSM limit is not included in the current balance provided by Digital Banking, Telephone Banking, or at the ATM.

What transactions are eligible for Bounce ProtectionSM?

At our discretion, we may pay transactions for items, including checks, ACH debits, represented items, in-person withdrawals, recurring debit card transactions (i.e., authorization provided to a merchant to withdraw funds according to a set schedule for recurring payments such as monthly installments or membership fees), and certain other electronic transactions, when your account does not have sufficient funds available. To receive Bounce Protection for ATM and one-time debit card transactions, Federal regulations prohibit us from authorizing and paying overdrafts on ATM and one-time debit card transactions using Bounce ProtectionSM unless you specifically opt-in to this service. If you do not opt-in, these transactions will be declined, and you will not be charged a fee. If you opt-in and we pay an ATM or one-time debit card transaction when the balance in your checking account is insufficient to cover the transaction, we will charge you a Bounce Paid Item Fee as disclosed in our Miscellaneous Fee Schedule.

By keeping accurate records and knowing your balance, you can avoid mistakenly accessing your limit and incurring fees. The best way to do this is to use digital banking tools or other methods to keep track of your deposits, written checks, withdrawals including service charges, and ATM and check card transactions. Always reconcile your records with your monthly bank statement.

What if I do not want to have Bounce ProtectionSM on my checking account?

You may never need to take advantage of our Bounce Protection service, but you may find it helpful in the event of an inadvertent overdraft. If you do not want Bounce Protection SM, contact The Bank of Elk River by calling 763.241.8522, sending a message through digital banking, or visiting any of our branch locations. Please note: once this service is removed, if an item is presented for payment and there are not sufficient funds in your account, the item may be returned to the payee, and our overdraft paid item fee or overdraft returned item fee as disclosed in our Miscellaneous Fee Schedule will be charged per item. The Bank of Elk River offers other services to cover overdrafts. See your banker for details.


Bounce ProtectionSM is a non-contractual courtesy available to individually/jointly owned accounts in good standing for personal or household use. Trust and business checking accounts are not eligible for this service. The Bank of Elk River reserves the right to limit participation to one account per household and discontinue this service without prior notice. The terms and conditions of the agreements and disclosures for each of your deposit accounts, including but not limited to the Account Agreement, continue to apply notwithstanding anything contrary in this Disclosure. In the event of a conflict between this Disclosure and any other agreement governing your deposit account, this Disclosure will control Bounce ProtectionSM and the matters herein.

Bounce ProtectionSM Customer Overdraft Policy

An overdraft fee could result in several ways, such as (1) the payment of checks, electronic fund transfers, ATM, 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, suppose you maintain your checking account in good standing, in that case, we may approve your reasonable overdrafts as a non-contractual courtesy. 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, you should note that the amount of the overdraft plus the bank's Bounce Paid item fee 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 notified of any overdraft 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 Overdraft/Returned item fee 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, shall be jointly and severally liable for such overdraft plus our overdraft fees.

Bounce ProtectionSM 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, you can do so by calling 763.241.8522.

You should note that your Bounce ProtectionSM limit will not be reflected in your current balance provided at the ATM, through Digital Banking or Telephone Banking.

The Bounce ProtectionSM logo is a registered trademark of Pinnacle Financial Strategies.