Overdraft Coverage Options:

Life happens!  Riverview Bank, understands that unexpected overdrafts occur from time to time. Our Overdraft Protection Services and Bounce Protection Overdraft Privilege can help. Please contact your local community office.

The choice is yours. Overdraft protection and overdraft privilege services may save you additional charges and possible damage to your credit history that can result when overdrawn items are returned to merchants or other service providers.

Service Description & Cost
Overdraft Protection Services Overdraft Protection Services apply to all types of transactions and may help prevent overdrafts by automatically transferring funds to your checking account from a line of credit or another deposit account you have at Riverview Bank for a fee. Link your primary account to another deposit account or line of credit you have at Riverview Bank. If you overdraw, your funds in the linked account will be automatically transferred to cover the overdrawn transaction for a $12 transfer fee.i
Basic Bounce Protection Overdraft Privilege Basic Bounce Protection Overdraft Privilege may pay certain items that overdraw your account, up to your disclosed protection limit. Under this service, we may pay overdraft items created by check, teller withdrawal, automatic or other electronic transaction, or recurring debit card transaction. Each overdraft item presented for payment will be subject to the bank’s standard $40 Overdraft Item Fee.ii
Enhanced Bounce Protection Overdraft Privilege Enhanced Bounce Protection Overdraft Privilege may pay items of all transaction types that overdraw your account, up to your disclosed protection limit. This service provides you the same coverage options and service terms as Basic Bounce Protection and additionally covers Everyday Debit Card and ATM Transactions. Each overdraft item presented for payment will be subject to the bank’s standard $40 Overdraft Item Fee .iii


i Account must be linked to a deposit account or line of credit prior to the subject account being overdrawn for the transfer to occur. Linked deposit account or line of credit must have sufficient funds available to cover the amount of the overdraft plus the $12 fee for the transfer to occur. Please contact Riverview Bank at 1-888-765-7551 or visit any Riverview Bank community office to apply for this service.


ii Basic Bounce Protection Service is subject to our standard Overdraft Item Fee of $40 per item. For Personal Checking Accounts, overdraft fees imposed are limited to 6 items per day with a daily total maximum limit of $240. Basic Bounce Protection applies to the following transaction types: Teller, Check Writing, Recurring Debit Card Payments, ACH Automatic Debits, Bill Payment.


iii Enhanced Bounce Protection Service requires your consent to extend the service to each account and is subject to our standard Overdraft Item Fee of $40 per item. For Personal Checking Accounts, overdraft fees imposed are limited to 6 items per day with a daily total maximum limit of $240. Enhanced Bounce Protection applies to the following transaction types: Teller, Check Writing, Reoccurring Debit Card Payments, ACH Automatic Debits, Bill Payment, Everyday Debit Card Transactions and ATM Transactions.

Enhanced Bounce Protection:

Election and Differences from the Basic Bounce Protection.

With an upgrade to Enhanced Bounce Protection, your overdraft privilege limit remains the same, but overdraft privilege will include all transaction types as shown:

Transactions Covered with Bounce Protection Basic Bounce Protection (no action required) Enhanced Bounce Protection (your consent required)  
Teller X X

If you would like to opt in to Enhanced Bounce Protection Service for future transactions:

  • Call our Customer Service Center at (888) 765-7551
  • Visit one of our local community offices

 

Send message through Online24- Internet Banking or your Mobile Banking App

Writing a Check X X
Recurring Debit Card Payments X X
ACH -Automatic Debits X X
Bill Payment X X
Everyday Debit Card Transactions   X
ATM Transactions   X

To elect Enhanced Bounce Protection Overdraft Privilege, contact us at 1-888-765-7551, send us an email through Online24 or your Mobile Banking App, or visit any Riverview Bank community office. 

Removing Enhanced Bounce Protection Overdraft Privilege:
If after electing Enhanced Bounce Protection Overdraft Privilege you wish to change to Basic Bounce Protection Overdraft Privilege or wish to entirely withdraw your accounts from Overdraft Privilege, you may do so by contacting us at 1-888-765-7551, by sending us an email through Online24 or your Mobile Banking App, or by contacting any Riverview Bank community office.

Ways to Prevent Overdrafts:
While we’re pleased to offer you this service, we encourage you to manage your finances responsibly.

  • Review all account notices and periodic statements as soon as you receive them.
  • Enter all items in your check register.
  • Reconcile your account regularly.
  • Set Low Balance Alert notification through your Riverview Bank Mobile App.

Please note that your Bounce Protection limit will not be reflected in your account balance provided by a teller, at the ATM, or through online or telephone banking.  Basic Bounce Protection and Enhanced Bounce Protection are overdraft privilege services provided at the bank’s discretion and maybe reduced or withdrawn at any time without prior notification.

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