Overdraft Services

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If a bank pays a transaction that comes through when there’s not enough money in your account, it’s called an overdraft.

There are several things you should know about overdrafts, and there are a few ways we can help you cover them.

Overdraft Honor (with or without Opt-In Protection) is available to accounts that are in good standing.
Overdraft Transfer Service allows the automatic transfer of funds from one of your other Heartland Bank accounts to the account that was overdrafted.
A Reserve Line of credit will specifically cover unexpected expenses and emergencies. Talk to a personal banker at a branch near you to learn more and get things set up.

What are the standard overdraft practices that come with my account?

There are a few things we’ll use our discretion to authorize as an overdraft, including:

Checks and other transactions made from your checking account
Automatic bill payments
Recurring debit card transactions (for example, monthly membership dues)

For your protection, there are other things we won’t authorize unless you tell us in advance that you want us to.

ATM transactions
Everyday debit card transactions

Look at Opt-In Protection if you want to be sure all your withdrawals are approved.

What fees will I be charged if Heartland Bank pays my overdrafts?

There’s a fee of $32 for each item that overdraws your account, with a limit of $133 in overdraft fees on any given day. If your account is overdrawn for more than three business days, you’ll be assessed an overdraft charge of $5 per day, starting with the fourth business day. Your account will be charged each business day thereafter, as long as the account remains overdrawn.

Opt-In Protection

At Heartland Bank, we understand that life happens. That’s why we offer our customers services that protect them and provide peace of mind. If you choose Opt-In Protection, you’ll ensure your debit card will work even when your funds are low, whether it’s an emergency, you’re facing an unexpected bill, or you simply forgot to check your account that day. Opt-In Protection keeps you covered.

How Does Opt-In Protection Work?

The Federal Reserve requires that banks issuing debit cards have a customer’s authorization to either allow or deny overdraft services when and if they’re necessary. By opting in, you allow us to cover any insufficient funds whenever you make a purchase. If you don’t opt in, your debit card will be declined when there isn’t enough money in your account, no matter how you’re trying to use it.

Learn More About Federal Reserve Rules Online

Opt-In Protection FAQs

People with a debit card are required to let the card-issuing institution know if they want overdraft services or not. If you don’t opt in to overdraft protection for your debit card, those everyday debit and ATM transactions will be declined when there’s not enough money in the account to cover them.

“Everyday” or “one-time” debit card transactions are the day-to-day purchases you make at the grocery store, gas station, drug store, or wherever you shop. The Federal Reserve rules around opting in don’t apply to regularly recurring debit card transactions, like gym memberships or other automatic payments.

The regulations apply to any transaction of funds in your Heartland Bank personal checking account at any ATM. If you choose not to opt in, you won’t be allowed to withdraw or transfer more than what’s available in your account, even if you have our Overdraft Honor service.

By opting in, you know your purchases will be covered. You may never need the service, but it’s important to have that protection in place. Remember, there’s no charge for the service unless you use it.

If you have chosen not to opt in and you try to make a purchase for more than the funds available in your account, the merchant will decline the purchase.

Yes. Any owner on the account may revoke consent at any time. Simply call or stop by a Heartland Bank office, phone our Customer Care Center at 888-897-2276 during regular business hours, or mail your request to:

Heartland Bank
PO Box 67
Bloomington, IL 61702-0067

If your account is never overdrawn, there will never be an overdraft fee. Track your transactions and keep sufficient funds in your account, and you’ll probably never need it. It’ll be there just for your peace of mind.

Keep a current and accurate record of your deposits and withdrawals, and balance your monthly statements. Don’t forget to record automatic payments, bill pay transactions, and debit card purchases, for example. Information from online banking, mobile banking, telephone banking, or ATMs can be helpful, but they don’t reflect transactions that haven’t been posted to your account. If you’d like help learning how to reconcile your statements, just ask. We’re happy to show you how.

Sign up by filling out and returning the Opt In Protection Form.

Overdraft Transfer Service

Protect your personal or DBA checking account from overdrafts by linking it to your savings, money market, or another checking account.

How Does the Overdraft Transfer Service Work?

If there’s an overdraft, funds will automatically transfer from the account with an available balance to the one that’s about to be overdrawn. It all happens in one overnight batch, no matter how many transactions may come in on the overdrawn account during the day.

Overdraft Transfer Service FAQs

No. The Overdraft Transfer Service is only available on personal accounts and on DBA (sole-proprietor) accounts. Businesses that need this type of service can discuss other options with a personal banker.

There’s a $10 fee if the overnight process covers an overdrawn balance. It’s a flat per-day fee, not based on the number of transactions that come in on an overdrawn account during the day.

The fee is charged to the account that has become overdrawn (the account being protected). The transfer will include the overdrawn amount plus the transfer fee.

You can choose to either have only the amount needed to cover the purchases that have been made, or you can request an incremental amount, such as $100 increments.

There are several ways to get this service activated. Print and complete the authorization form and mail it in, visit any office, or call us at 888-897-2276 during regular business hours. We look forward to helping you!

If you have questions about overdraft or any other services or accounts, visit your local branch or call our Customer Care Center at 888-897-2276 during regular business hours.