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Personal Banking
Debit Card Overdraft Protection
It’s time to make a choice regarding your debit card overdraft protection
A government regulation is changing how banks offer overdraft services. Here’s an overview of the changes and some of the frequently asked questions. Our employees are here to answer your questions and help you determine the best choice in overdraft protection to meet your specific needs.
Overview of Changes
Due to changes in government regulations, effective August 5, 2010, Debit Card Overdraft Protection can no longer be included as an automatic feature of your account for ATM and one-time debit card transactions. If you currently have Overdraft Plus on your checking account you will continue to receive overdraft coverage for checks, automatic bill payments (online bill pay), recurring debit card transactions (ex. utilities or gym membership) and ACH transactions.
As a Heritage Bank customer, if you’ve ever tried to withdraw money from the ATM, or make a one-time debit card purchase when you were low on funds, Heritage Bank may have allowed the transaction as a courtesy, and charged an overdraft fee for covering it. Though covering these overdrafts is always at our discretion, beginning on August 5, 2010, Heritage Bank will no longer provide Debit Card Overdraft Protection for these types of transactions unless you actively “Opt-in” to continue receiving the service.
What to do next
Most Heritage Bank customers have a decision to make about Debit Card Overdraft Protection. Customers who hold multiple accounts with us will need to specifically make a choice for each account. If you do not actively opt-in to continue receiving the service for each account, Debit Card Overdraft Protection will terminate automatically on August 5, 2010.
To continue your Overdraft Plus privilege for ATM and one-time debit transactions, please take one of the following steps:
- Click here to complete the Overdraft Plus Opt-In Form Online
- Stop by your branch and complete the form there.
- Phone in to our Customer Service Center at 800-455-6126
How Debit Card Overdraft Protection works
If you choose to opt-in to continue receiving Debit Card Overdraft Protection, your Heritage Bank account will keep functioning exactly as it does today. So if you make a one-time debit card transaction or ATM withdrawal and don’t have the necessary funds to cover it, Heritage Bank may allow the transaction and you will be charged an overdraft fee. Some people like the convenience of Debit Card Overdraft Protection. Others look for ways to avoid fees entirely. Consider the benefits and decide for yourself. Continuing the service may:
- Help you avoid the inconvenience of declined transactions at a store or ATM
- Allow access to additional funds when your balance is low or other "just in case" moments
- Help provide a safety net between deposits
Please note, our Overdraft Plus service for automatic bill payments, recurring debit card transactions, ACH debits and checks you write will remain in effect even if you don’t choose to continue Debit Card Overdraft Protection.
How and When to Act:
Customers who want to continue receiving Debit Card Overdraft Protection can opt-in at any time in one of several convenient ways – by completing a secure online form, at a branch, over the phone or in the mail. To avoid any interruption to your existing overdraft protection, please make your decision before August 5, 2010.
Customers with multiple accounts need to make their choice for EACH personal checking Account.
If you have additional questions about Debit Card Overdraft Protection, please review our frequently asked questions. In addition, you may contact us anytime for assistance, our employees are here to answer your questions and help you determine the best choice in overdraft protection to meet your specific needs.
