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Personal Banking - Overdraft Privilege

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What is OVERDRAFT PRIVILEGE?

With OVERDRAFT PRIVILEGE you will have peace of mind knowing that your transactions will be paid by HEARTLAND. HEARTLAND will authorize and pay overdrafts up to a total of $500 including overdraft fees for checks and other transactions made using your checking account number, automatic bill payments and recurring debit card transactions. We do not authorize and pay overdrafts for ATMs and everyday debit card transactions unless you ask us to authorize and pay these types of items. If you elect to enroll in overdraft services for everyday debit card transactions and ATM transactions, the amount of coverage provided by overdraft services does not increase, only the types of transactions covered by overdraft services changes. Overdraft Privilege generally pays items presented against insufficient funds up to a total of $500 regardless of which types of services are selected, which includes a $30 Overdraft Fee for each item presented against insufficient funds. The customer is responsible for all overdraft balances, including fees, which are due and payable on demand by the Bank. Whether your overdrafts will be paid by Heartland Community Bank is discretionary and the Bank is not obligated to pay any overdraft item, even though items may have been paid in the past. We will apply the same criteria for deciding when to pay overdrafts for checks, ACH transactions, or other types of transactions regardless of whether or not you affirmatively consent to our overdraft service for ATM and one-time debit card transactions. Your account will be closed if it remains in an overdraft status for a period of sixty (60) consecutive days; however, the closure of your account does not relieve you of the obligation to pay the overdraft balance.

To qualify for OVERDRAFT PRIVILEGE

  • The account must have monthly transaction activity, i.e. deposits and/or withdrawals;
  • The account cannot have liens, levies, or other legal restrictions on it. The Bank reserves the right to suspend the benefit if other holds or restrictions are placed on the account by the customer or the Bank;
  • The account has not been overdrawn 15 consecutive calendar days or more;
  • The account holder has not filed bankruptcy;
  • The account has not had excessive NSF and/or returned deposited items;
  • The account does not have any account related activity that may present a possible loss to the Bank; and
  • The account has been an open and active account for at least 90 calendar days.

What if I want Heartland Community Bank to pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions,

Can I decline to have OVERDRAFT PRIVILEGE on my account?

Yes. If you wish to opt out you would call or visit one of our branches to complete and sign a form which will indicate that you are requesting to not have this overdraft privilege on your account.

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