Routing Number: 103111618
Call us! 405.527.6503

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 a costly, inconvenient and potentially embarrassing experience.

At McClain 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 privilege service for McClain Bank personal checking customers.

What is Bounce Protection?

Bounce Protection is an overdraft privilege service requiring no action on your part. You don't have to sign anything. Your Bounce Protection limit amount will be automatically assigned depending on the type of account you open. If you are a new account holder, you may be able to use the overdraft privilege service 30 days after the account is opened, assuming your account is in good standing.

How does Bounce Protection work?

As long as you maintain your account in good standing, McClain Bank may approve your overdrafts within your current available Bounce Protection limit. Whether your overdraft will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing. Your account is in good standing if you

  • demonstrate responsible account management - such as making regular deposits to bring your account to a positive balance at least once every 30 days (including the payment of all bank fees and charges);
  • avoid excessive overdrafts suggesting the use of Bounce Protection as a continuing line of credit; and
  • there are no legal orders, levies or liens against your account.

Please note that the amount of the overdraft plus our standard overdraft fee of $28.00 for each item will be deducted from your overdraft limit. The total overdraft fees charged per account, in any one business day, will not exceed 5 overdraft fees ($140.00). If, after end of day processing, an account is overdrawn less than $10.00, no overdraft fee will be charged. No interest will be charged on the overdraft balance. Your Bounce Protection limit can be accessed through check writing, at the teller window, Online Banking/Bill Pay, Telephone Banking and recurring ACH. Also, if you have requested us to do so, we may authorize and cover ATM withdrawals and everyday debit card transactions. The limit will not be included in the balance provided during an inquiry.

How do I know when I use the overdraft limit?

You will receive an overdraft notice in the mail each time items are paid. You will need to subtract the total fees when balancing your checkbook.

What is my Bounce Protection limit?

Locate your account type on the following chart and make note of the corresponding limit. If you have multiple accounts for your household, you may have a limit on all eligible accounts.

 FREE Checking  $100
 Regular/Plan 62  $400
 Diamond Club/Double Diamond Club  $500
 Super NOW  $500
 Personal Money Market $500 

 

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 standard overdraft fee will be charged per item and assessed to your account. The total overdraft fees charged per account, in any one business day, will not exceed 5 overdraft fees ($140.00). If, after end of day processing, an account is overdrawn less than $10.00, no overdraft fee will be charged. An overdraft notice will be sent to notify you of our actions.

How quickly must I repay my Bounce Protection?

You should make every attempt to bring your account to a positive balance as soon as possible, and must do so within 30 days. If you are not able to bring your account to a positive balance within 30 days, you will receive a letter from McClain Bank informing you of the situation and your options. If, thereafter, your account has not been brought to a positive balance, we may suspend your account and take other steps to recover the funds.

What does my Bounce Protection privilege cost?

There is no additional cost associated with this privilege unless you use it. You will be charged our standard NSF paid item charge of $28.00 for each item created by check or through in-person withdrawals, or other electronic means. Also, if you have requested us to do so, we may cover ATM and debit card transactions. (For example, three paid items in one day will result in $84.00 in NSF fees.) To help you manage your account, the total fees you have paid for NSF items (both paid and returned) during the current month and for the year-to-date, will be reflected on your monthly checking statement in accordance with Federal regulations.

What are some other ways I can cover overdrafts at McClain Bank?

The best way to avoid overdrafts and bounced check fees is to manage your account so you don't overdraw it.

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

Bounce Protection costs you nothing unless you use it. However, if you would like to have this service removed from your account, please call 405.527.6503.

Customer Overdraft Program - Bounce Protection Policy

An insufficient balance can result from several events, such as

  • the payment of checks, electronic funds transfers or other withdrawal requests;
  • payments authorized by you;
  • the return of unpaid items deposited by you;
  • bank service charges; or
  • 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.

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

  • 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);
  • avoid excessive overdrafts suggesting the use of Bounce Protection as a continuing line of credit; and
  • have no legal orders, levies or liens against your account.

In the normal course of business, we generally pay electronic transactions first and then checks, per the bank’s policy. We reserve the right to change the order of payment without notice to you if we suspect fraud or possible illegal activity affecting your account. Also, please be aware that the order of item payment may create multiple overdraft items during a single banking day for which you will be charged our Overdraft fee of $28.00 for each overdraft item paid. The total overdraft fee charged per account, in any one business day, will not exceed 5 overdraft fees. A return item fee will be charged on each item processed. No additional fees (either daily overdraft balance fees or interest) shall be charged. If, after end of day processing, an account is overdrawn less than $10.00, no fee will be charged. 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, please note that the amount of the overdraft plus the bank’s Overdraft fee of $28.00 per item will be deducted from the overdraft limit.

We may refuse to pay an overdraft item at any time even though we may have previously paid overdrafts for you. For example, we typically do not pay overdraft items if your account is not in good standing as defined above, or, if based upon our review of your account management, we determine that you are using Bounce Protection excessively or seem to be using Bounce Protection as a regular line of credit. You will be charged a returned item fee of $28.00 for each item returned.

You will be promptly notified 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 including our overdraft fee of $28.00 and/or a return item fee of $28.00 that you owe us shall be due and payable upon demand, but if no demand is made, no later than 30 calendar days after the creation of the overdraft. If there is an overdraft on an account with more than one owner on the signature card, each owner and agent, if applicable, shall be jointly and severally liable for all overdrafts inclusive of fees.

Bounce Protection should not be viewed as an encouragement to overdraw your account. To avoid fees, we encourage you to keep track of your account balance by entering all items in your check register, reconcile your check book regularly, and manage your finances responsibly. If you would like to have this service removed from your account, please call 405.527.6503.

Please note that your Bounce Protection limit may be available for each item paid under the limit created by checks and other transactions made using your checking account number, such as a teller withdrawal, an automatic payment (ACH) transaction, 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. The limit will not be included in the balance provided during an inquiry.

LIMITATIONS: Bounce Protection is a non - contractual courtesy that is available to individually/jointly owned accounts in good standing for personal or household use. McClain Bank reserves the right to limit participation to one account per household and to suspend, revoke, or discontinue this service without prior notice. 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 the first business day after you bring your account to a positive end-of-day balance.