Learn more about our Standard Overdraft Coverage.
Heritage Bank’s standard practice is to provide all eligible checking accounts with standard overdraft coverage. This means that if you don’t have enough funds in your account to cover a transaction, at our discretion we may pay for the transaction on your behalf. We may charge you our standard overdraft fee of $34 per item (up to 6 per business day), and an additional $5 per business day if your account is overdrawn 4 or more consecutive business days (maximum of 15 business days).
If we decline to pay an eligible transaction, the transaction will be returned or declined and we may charge a $34 insufficient funds fee (returned). Repayment of the overdraft amount is expected within 45 calendar days. You should make every effort to bring your account to a positive balance within 30 calendar days. At 30 calendar days, we will send you a letter informing you of the account status and your options.
With standard overdraft coverage, Heritage authorizes and pays overdrafts for the following transactions (up to the account limit):
Our standard coverage does not automatically include coverage for ATM and one-time debit card transactions. To extend your coverage to your ATM and one-time debit card transactions that might overdraw your account, you must opt in to our enhanced overdraft coverage.
Why get extra overdraft protection?
The standard overdraft coverage that comes with your account is limited to certain types of transactions. Our Enhanced overdraft coverage gives you the next level of protection, covering more transaction types than our standard coverage.
Line of Credit Protection and Overdraft Protection plans are also available and can work along with our Standard and Enhanced Coverage. These plans generally offer a higher degree of coverage at a lower cost as they guard against NSF fees and returned checks.
|Enhanced Opt In Coverage||Business Line of Credit||Account Link Protection|
|Plan type||With an easy opt in, this plan offers you the next level of coverage for your account.||This plan gives you the convenience and security of a line of credit.||This plan links your savings and checking to keep your account in the black.|
|How it works||If your account is in good standing, get coverage on an overdraft and be authorized for transactions not covered in our standard overdraft plan.||Funds are automatically advanced to your account at no charge. Need quick cash? Write yourself a check, up to your credit limit.||Funds get transferred from savings to checking in increments of $50 (or the available balance, whichever is less) to cover overdrafts.*|
|Fees||$34 per item||Annual fee varies||$5 transfer fee per day. No overdraft fees if savings covers it.|
*If enough money is not available in your linked overdraft protection account to cover the entire overdraft, an overdraft protection transfer will not occur.