Overdraft Forgiveness

Small mistakes shouldn’t result in hefty penalties.

Bounce Guard Plus protects against checking account errors

Here’s how Bounce Guard Plus and Overdraft Forgiveness could help you bank better:

  • Coastal’s overdraft forgiveness program reduces fees to one penny per overdraft if members correct their checking account balance problem by 11 p.m. that day
  • The one-cent fee also applies if the end-of-the-day negative balance is less than $10*
  • Limit fees and ensure uninterrupted checking account access when you accidentally spend more money than is in your account
  • Checking accounts automatically include regular Bounce Guard2
  • Only the first two overdrafts in any one day will each result in the full $31 fee a piece; fees will be reduced for additional transactions on that particular day (following the first 2 overdrafts.) This will remain the pattern for each day there are new overdrafts. For more information on fees click here
  • We will continue to honor checks and automatic online payments for members with regular Bounce Guard who overdraw their checking accounts, up to $500**; however, debit card purchases and ATM withdrawals will be declined
  • If you opt into Bounce Guard Plus, all debit card transactions and ATM withdrawals, up to $500**, will be approved even if you are overdrawing your account
  • You also have the option of opening an Overdraft Line of Credit that automatically fills in whenever your funds fall short1
  • To opt-into Bounce Guard Plus, simply login into  Digital Banking and send us a Secure Message or call us at (800) 868-4262 

Everyone makes a little mistake now and then.

For Coastal members, a common error is accidentally spending more than they have in their checking accounts. Members have told us that a small mistake, or one they fix quickly, shouldn't result in a big overdraft penalty.

We share that sentiment. That’s why Coastal has various types of overdraft protection. Our overdraft forgiveness program reduces your fees to just one cent per transaction.  To qualify for the one cent overdraft, you can simply correct the account balance or have your overdraft balance be less than $10. by 11 p.m. the same day*.  If you're unable to fix your account in that time frame, our Bounce Guard program limits your fees to two $31 per transaction fees on a given day; fees will thereafter be reduced for subsequent transactions on that same day.  Bounce Guard Plus offers the same fee policy and also ensures you continue to enjoy all the benefits of your checking account even if you overspend. Plus, you can open an Overdraft Line of Creditthat's always available when you overdraft your account and set up account alerts to get information on balances and all of your account transactions3. Coastal’s bottom line is that to err is human, and to forgive is just good business.

*Any account that remains negative by more than $10 after 11:00 p.m. will be charged a fee of $31 per overdraft, a maximum of two $31 fees charged on a given day. These charges apply to all checks and automated ACH transactions, as well as debit and ATM transactions on checking accounts that have BounceGuard Plus overdraft coverage.

**Coverage Limit: BounceGuard and BounceGuard Plus coverage is limited to a maximum of one (1) accounts per individual. Individuals are determined by unique Social Security Numbers, not account numbers.  All negative shares must be paid within 40 days.  BounceGuard limit is $500. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. If we do not authorize and pay an overdraft, your transaction will be denied. There is no limit on the total fees we can charge you for overdrawing your account. 

1. Initial rate may vary and is determined by credit qualifications, amount financed, and collateral, and the annual percentage rate is variable and may change after account opening.  There are no origination fees, transfer fees, nor a penalty to payoff your line of credit early.  

2. Qualification of the program is required.

3. Qualification of the program is required.

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