Overdraft Protection Options

As a result of new regulatory changes, your permission is now required to receive overdraft coverage on ATM withdrawals and debit card purchases.

For more information, click here.

To activate this Overdraft Privilege, click here.
 

Bounce Protection

Most Bank of Granite checking accounts come with Bounce Protection™. Simply maintain your account in good standing and this protection ensures that inadvertent overdrafts will be honored up to the limit on your account. This optional limit will be automatically assigned when you open the account. Should the use of Bounce Protection become necessary, the bank's normal insufficient funds fee (NSF) for each transaction will be deducted from your limit. We will notify you by mail when an overdraft occurs. No interest will be charged on the overdraft balance.

Note:  Effective July 1, 2010, new legislation takes effect which prohibits the bank from providing Bounce Protection on ATM and debit card withdrawals…unless the checking accountholder has “opted in”, providing the bank written permission to extend this service to these withdrawal channels.  Bounce Protection, however, will continue to be available on check and electronic overdrafts (i.e., direct draft, e-bill pay, etc.)

 

Personal ReservAccount

Personal ReservAccount is a convenient line of credit, which automatically transfers funds to your checking account to avoid overdrafts. Enjoy peace of mind and take away the worry of accidentally overdrawing your account or the embarrassment of having a check returned. We offer:

  • Discreet service—only you and Bank of Granite know that you are using this credit
  • Credit line of $500 or more, funds are transferred to your checking account in increments of $100 as you use them
  • Receive notification each time a transfer is made
  • Minimum monthly payment of only 5% of the outstanding balance or $20, whichever is greater
  • Pay your entire balance at any time without pre-payment penalty
  • No interest on the unused portion of your credit line
  • Banclub, Lifestyle 50, Lifestyle 50 Elite, and GraniteAdvantage customers receive reduced interest rate
  • Optional life insurance is available

The approval process is fast and easy with no charge to apply. Contact any Bank of Granite office to learn more about our Personal ReservAccount.

 

Preauthorized Transfers

We also offer you the option of preauthorizing transfers from your Bank of Granite savings account to protect you from overdrafts. A transfer fee will apply each time you access this service and each transaction will count as a withdrawl on the savings account.