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:
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| Service | Cost |
|---|---|
| Overdraft Protection Link to Another Deposit Account you have at Heartland | No Fee |
| Line of Credit | Subject to Interest and Credit Approval |
| Privilege Pay | $30 Overdraft Fee per item |
WHAT IS OVERDRAFT PROTECTION AND CREDIT LINE?
Overdraft Protection and Line of Credit 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 Novation. Please note that the Line of Credit is subject to interest and credit approval. If you would like to link your checking to another deposit account you have at Novation call us at (651) 451-5160, email us at [email protected] or visit a branch. If you’re interested in a 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 Line of Credit, 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].
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| Transactions Covered with Privilege Pay | Standard Coverage (no action required) | Extended Coverage (your consent required on personal accounts)++ |
|---|---|---|
| Checks | X | X |
| ACH - Automatic Debits | X | X |
| Recurring Debit Card Transactions | X | X |
| Online Bill Payments | X | X |
| Teller Window Transactions | X | X |
| ATM Transactions | X++ | |
| Everyday Debit Card Transactions | X++ |
If you would like Extended Coverage complete the Extended Coverage Consent Form. Or you can call us at (651) 451-5160 or visit a 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.
