• Personal Banking
  • Commercial Banking
  • Investment Services
  • Tools & Resources
  • Convenience Services
  • News
  • Rates

Bounce ProtectionWoman in kitchen looking at mail

At times unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be costly, inconvenient and potentially embarrassing,  At The Savings Bank, we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. However, we want to save you from the additional merchant fees and possible damage to your credit history that might result if a check is returned. That’s why we provide Bounce Protectionsm, a special overdraft service for The Savings Bank’s customers.

What is Bounce Protectionsm?

Bounce Protection is a discretionary overdraft service requiring no action on your part that provides you a safety net up to an automatically assigned overdraft limit. Your Bounce Protection limit may be available for checks and other transactions made using your checking account number or automatic bill payment and recurring debit card payment. Also, at your request, we may authorize and pay ATM transfers or withdrawals and everyday debit card purchases using your limit. Opt in to Bounce Protection.


How does Bounce Protection work?*

As long as you maintain your account in “good standing,” we may approve your overdraft items within your current available Bounce Protection limit as a non-contractual courtesy. For overdraft privilege consideration, your account is in “good standing” if you (1) make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all bank fees and charges); (2) avoid excessive overdrafts suggesting the use of Bounce Protection as a continuing line of credit; and (3) there are no legal orders, levies or liens against your account. 

Please note that the amount of the overdraft plus our overdraft fee of $33 for each item will be deducted from your overdraft limit. If the item is returned, the fee of $33 will be deducted from your account. No interest will be charged on the overdraft balance. 

*Please refer to the customer overdraft policy for additional details.

What if I go beyond my Bounce Protection limit?

Overdrafts above and beyond your established Bounce Protection limit may result in checks or other items being returned to the payee. The overdraft fee of $33 will be charged per item and assessed to your account. An overdraft notice will be sent to notify you of items paid and/or returned.

What does Bounce Protection cost?

There is no additional cost associated with this privilege unless you use it. You will be charged our overdraft fee of $33 for each overdrawn item created by a traditional paper-based check, a teller withdrawal, an automatic payment (ACH) transaction, or a recurring debit card payment. Also, if you have requested us to do so, we may authorize and cover ATM transfers or withdrawals and everyday debit card purchases. 

What is my Bounce Protection limit?

Consumer Checking. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $   750
Commercial Checking . . . . . . . . . . . . . . . . . . . . . . . . . . . $   750

How quickly must I repay my Bounce Protection?

You should make every attempt to bring your account to a positive end-of-day balance as soon as possible, and must do so within 30 calendar days. If you are not able to do so, you will receive a letter from The Savings Bank informing you that your Bounce Protection limit has been suspended and additional items will be returned. Unless we advise you differently or you request this service be removed from your account, your limit will be made available to cover overdrafts again after you bring your account to a positive end-of-day balance.

What if I don't want Bounce Protection on my account?

If you would like to have this service removed from your account, please call a customer service representative at (800) 246-2009.

Related Links

Deposit Rates
Retail Investments
Wealth Management
Savings Calculator
Retirement Calculator



PrivacyDisclaimerAgent ConnectSite Map
The Savings Bank  357 Main Street St, Wakefield, MA, 01880    Phone: (800) 246-2009    Fax: (781) 224-5482
DIFEqual Housing LenderFDIC