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Overdraft Coverage

Life is busy and from time to time anyone can lose track of how much money is in their checking account. That's why we've got options to help you when you need available funds.

Benefits of Extended Coverage Contact Us
  • Overview

    Life happens and we understand that unexpected overdrafts occur from time to time – Overdraft Coverage can help.

    Overdraft Coverage Options
    The choice is yours. Consider these ways to cover overdrafts, including Extended Coverage for your everyday debit card and ATM transactions:

    ServiceCost
    Overdraft Protection Link to Another Deposit Account you have at HeartlandNo Fee
    Ready Cash Line of CreditSubject to Interest and Credit Approval
    Privilege Pay$30 Overdraft Fee per item

    WHAT IS OVERDRAFT PROTECTION AND READY CASH?

    Overdraft Protection and Ready Cash applies to all transactions and may help protect your account from being overdrawn by automatically transferring funds to your checking account from another account or line of credit you may have at Heartland. Please note that Ready Cash lines of credit are subject to interest and credit approval. If you would like to link your checking to another deposit account you have at Heartland call us at (651) 451-5160, email us at [email protected] or visit a branch. If you’re interested in a Ready Cash line of credit Apply today.

    WHAT IS PRIVILEGE PAY?

    Privilege Pay allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection or Ready Cash, Privilege Pay is still available as secondary coverage if the other protection source is exhausted. For other important information, please review the What Else You Should Know document by logging into your Online Banking and clicking “Privilege Pay.” Please note, you can discontinue Privilege Pay in its entirety by contacting us at (651) 451-5160 or sending us an email at [email protected].

    Transactions Covered with Privilege PayStandard Coverage (no action required)Extended Coverage (your consent required on personal accounts)++
    ChecksXX
    ACH - Automatic DebitsXX
    Recurring Debit Card TransactionsXX
    Online Bill PaymentsXX
    Teller Window TransactionsXX
    ATM TransactionsX++
    Everyday Debit Card TransactionsX++

    If you would like Extended Coverage complete the Extended Coverage Consent Form. Or you can call us at (651) 451-5160 or visit a Heartland Branch.

    ++If you choose Extended Coverage on your consumer account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Privilege Pay Extended Coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.

  • FAQs

    • Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Overdraft Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of your Privilege Pay limit and may also help you avoid overdrafts in excess of your available balance. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn.

       

    • The $30 Overdraft Fee that is charged if you overdraw your account is the same fee amount that is charged if an item is returned as unpaid.

      If multiple items overdraw your account on the same day, each item will be assessed an Overdraft Fee or a Returned Item Fee of $30.

      All fees and charges will be included as part of the Privilege Pay limit amount. Your account may become overdrawn more than the Privilege Pay limit amount because of a fee.

       

       

    • You will automatically have Privilege Pay Standard Coverage if your account is eligible.

      If you want your ATM and everyday debit card transactions covered, you will need to consent by:

       

    • If you would like to select Extended Coverage for future transactions:

    • Standard Coverage includes checks, ACH transactions (automatic debits), recurring debit card transactions, online bill pay items, and teller window transactions.

      If you consent to Extended Coverage, ATM and everyday debit card transactions will be included with the Standard Coverage transactions.

      • Even if you have Overdraft Protection, Privilege Pay is available as secondary coverage if the other protection source is exhausted.
      • Privilege Pay will cover overdrafts up to the Privilege Pay limit if the funds in your savings account have been exhausted.

    • If you want to discontinue Privilege Pay, contact Heartland by calling (651) 451-5160, email us at [email protected], or visit any Heartland branch.

    • As soon as possible within 45 days. After 45 days your account will be closed.

    • When used, you will be charged a fee of $30 per overdraft paid, but costs nothing just to have on your account.

    • A link to another account or line of credit may be less expensive than an overdraft. A single larger overdraft will result in one fee, instead of multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile, online, and telephone banking services to keep track of your balance. For financial education resources, please visit mymoney.gov.

    • Heartland also offers Overdraft Protection, such as a link to a savings account or Ready Cash line of credit which may be less expensive than Privilege Pay. The majority of our members are already taking advantage of this service. If you’re not sure how your account is set up we’re happy to discuss this with you.

    • Privilege Pay allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection or Ready Cash, Privilege Pay is still available as secondary coverage if the other protection source is exhausted.

      • Have a Heartland Checking account that has been open for a minimum of 60 days
      • Cannot have a delinquent loan of more than 30 days
      • Checking balance cannot be negative for more than 20 days
      • Cannot have an active bankruptcy