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Privilege Pay

Privilege Pay

Peace of mind for when life happens

  • Overview

    While all Heartland Checking accounts come with free Overdraft Protection, what happens when you don’t have enough money in your account for us to cover you? That’s where Privilege Pay comes in.

    For qualifying members, Privilege Pay allows us to clear your transactions even when you don’t have the necessary funds in your account to do so.

    No application is necessary to enjoy this service. If your account meets our qualifications, this feature will automatically be added to your account. There is no fee to have Privilege Pay available on your account and no fee if you never use it. If you do need to use it, you’ll pay a low $30 fee.

    To learn more please contact us at (651) 451-5160 or (800) 813-9185.

     

  • FAQs
    • You must repay or cover your overdraft within 45 days. After 45 days your account will be closed.

      We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

    • There is no fee to have Privilege Pay available on your account and no fee if you never use it.

      Each time Privilege Pay covers your transactions, because you didn’t have enough money in your account, you’ll pay $30.

    • Monitor your accounts with Online Banking and Mobile Banking. You can check balances, transfer funds, set-up transaction alerts and more.

    • Heartland also offers Overdraft Protection, such as a link to a savings account or 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.

    • You can change your Privilege Pay choice anytime by contacting Heartland:

      • Call us at (651)451-5160 or (800)813-9185
      • Visit a Heartland branch

    • Yes. Think of it as “Standard” Privilege Pay and “Full” Privilege Pay coverage. Standard Privilege Pay comes with your Checking Account and will cover paper checks, ACH and recurring Debit Card transactions such as gym membership fees.

      For “Full” Privilege Pay you must opt in. Full Overdraft Privilege covers everything that the Standard program covers, plus everyday Debit Card transactions, such as merchant purchases.

    • It’s a great emergency program to have in place, but it’s entirely up to you. If you don’t Opt In and you have an unforeseen discrepancy on your Checking Account, everyday Debit Card transactions could be declined. Privilege Pay can give you peace of mind, covering a transaction drawn on your account if you do not have enough money to cover the item.

    • You still need to Opt In. Every Checking Account holder will need to Opt In if they want everyday Debit Card transactions covered. Privilege Pay for other types of transactions (paper checks, ACH and recurring Debit Card transactions) will be
      covered automatically, without the requirement of Opting In.

    • No. Your accounts will not be penalized or serviced differently. The only difference will be that everyday Debit Card transactions, such as merchant purchases that put your checking account over the limit, will be denied at the register.

    • Everyday debit card transactions may be declined if you don’t have enough money in your account. Our standard Overdraft Protection practices that come with your account will cover paper checks, ACH and recurring Debit Card transactions, such a gym membership fees, without the requirement of Opting In.

    • As a service to you, your Heartland checking account currently has a convenient feature called Privilege Pay (an Overdraft Program) that allows us to approve transactions, at our discretion, even if you don’t have the funds available in your account to cover them.

    • It’s your choice to make Privilege Pay available on your account by opting in or opting out.
      If you do not opt-in your everyday debit card transactions may be denied if the money is not available in your account. Simply put, if you use your card to pay at the grocery store, gas station or other merchants and you don’t have enough money in your account your transaction could be denied.

    • If you qualify for Privilege Pay we will automatically cover check, ACH and recurring Debit card transactions such as a gym membership fee – no need to sign up.

      However, if you’d like us to cover your debit card transactions as well, Federal Regulations require you to “Opt-In” to the program (this regulation does not apply to Business Accounts).

      To “Opt-In” please contact us at (651) 451-5160 or (800) 813-9185

       

    • You must repay or cover your overdraft within 45 days. After 45 days your account will be closed.

      We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

    • We do authorize and pay overdrafts for the following types of transactions:

      • Checks drawn from your Heartland account
      • ACH (Automated Clearing House) transactions
      • Automatic bill payments
      • Recurring payments from your debit card, such as gym membership fees
      • NO FEE to have Privilege Pay available on your account.
      • NO FEE if you never use it.
      • Each time Privilege Pay covers your transactions, because you didn’t have enough money in your account, you pay $30.
    • To qualify for Privilege Pay no application is necessary, you must simply meet the following criteria:

      • Have a Heartland Checking account that has be open for a minimum of 90 days
      • Must be at least 18 years old
      • Checking balance cannot be negative for more than 10 days
      • Cannot have delinquent loans of more than $25 for more than 45 days
      • Must have a deposit of at least $200 in the last 15 days
      • Cannot have filed Chapter 7 or 13 bankruptcy