Overdraft Privilege and Overdraft Protection

Life happens! Heritage Bank and Trust understands 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:

Service

Cost

Overdraft Protection Link to Another Deposit Account you have at Heritage Bank and Trust1

Overdraft Protection Line of Credit1,2

Overdraft Privilege

 $9.95 fee per transfer

Subject to fee + interest

$32.95 NSF Paid item Fee per item. Daily fees may apply

1Call us at (931) 388-1970, email us at operations@heritagebankandtrust.com, or come by a branch to sign up or apply for these services;

2subject to credit approval.

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit you may have at Heritage Bank and Trust for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction.

Transactions Covered with Overdraft Privilege

Standard Coverage (No action required)

Extended Coverage (Your consent required)*

Checks

X

X

ACH - Automatic Debits

X

X

Recurring Debit Card Payments

X

X

Online Bill Pay Items

X

X

Internet Banking Transfers

X

X

Telephone Banking

X

X

Teller Window Transactions

X

X

ATM Transactions

 

X*

Everyday Debit Card Transactions

 

X*

*If you choose Extended Coverage, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage

If you would like to select Extended Coverage for future transactions:

  • Call us at (931) 388-1970
  • Visit us at any Branch
  • Complete the secure online Extended Coverage Consent Form (LINK) or print the PDF version (LINK) and mail it to us at: 217 S. James Campbell Blvd., Columbia, TN 38401

You can discontinue the Overdraft Privilege in its entirety by contacting us at (931) 388-1970 or send us an e-mail to operations@heritagebankandtrust.com requesting that one of our representatives contact you.

What Else You Should Know

  • A link to another account or a line of credit is a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts.
  • Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted.
  • Good account management is the best way to avoid overdrafts. Use our mobile banking, Internet banking, and telephone banking services to keep track of your balance.
  • The $32.95 NSF Paid item Fee is the same fee amount that would be charged if a check was returned as unpaid. If multiple items would overdraw your account on the same day, each item would be assessed an appropriate NSF Paid item Fee or a NSF Return item Fee of $32.95. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of a fee.
  • If your account balance remains negative for two business days, we will charge your account a daily negative balance fee of $5.95 for each of the consecutive business days the account remains negative, beginning with day two.
  • For consumer accounts, there is a limit of five NSF Paid item Fees ($164.75) per day we will charge. We will not charge an NSF Paid item Fee if a consumer account is overdrawn by $10.00 or less. These exceptions do not apply to business accounts.
  • We pay items in the following order: 1) ATM withdrawals (from low to high by dollar amount), 2) ACH items (from low to high by dollar amount), 3) POS transactions (from low to high by dollar amount), and 4) checks in serial number order. The order in which transactions are posted may impact the total amount of NSF Paid item Fees or NSF Return item Fees assessed.
  • Although under payment system rules, Heritage Bank and Trust may be obligated to pay some unauthorized debit card transactions, Heritage Bank and Trust will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).
  • Giving us your consent to pay every day debit card and ATM overdrafts may result in you incurring NSF Paid item Fees for transactions that we would otherwise be required to pay without assessing an NSF Paid item Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available funds that could result in restriction of your debit card.
  • Except as described in this letter, Heritage Bank and Trust will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).
  • We may restrict your debit card use if you incur overdrafts in excess of the available funds in your account, including any Overdraft Privilege limit.
  • Heritage Bank and Trust authorizes and pays transactions using the available balance in your account. The available balance is comprised of the ledger balance (collected funds) less any debit card holds, and does not include any deposited funds on hold. Engagement Client may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure. If the funds in the available balance are not sufficient to cover a transaction, any available overdraft protection and/or the amount of the Overdraft Privilege limit, may be used to authorize and pay a transaction.
  • Heritage Bank and Trust will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, a NSF Paid item Fee may be assessed.
  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be removed at any time without prior notice.
  • Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty-two (32) days for a minimum of one business day.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account and Disclosure Agreement. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at (931) 388-1970 or visit a branch.

PDF Extended Coverage Consent Form (Print and Mail)

 

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