Common Questions About Opting In

What do you mean by “Opt In”?

In 2010, the Federal Reserve issued regulations that affected the services available on your Heartland Bank Debit Card/ATM Card. As a Heartland Bank customer, the rules require you to tell us if you want us to continue applying overdraft service to your everyday debit card and ATM transactions. By giving this authorization, or “Opting In”, you are choosing to allow Heartland Bank to handle your account activity in the same manner as we always have in the past. If you do not Opt In, whenever sufficient funds are not available in your account, all everyday debit and ATM transactions must be declined.

What’s an everyday, one-time debit card transaction?

“Everyday” or “one-time” debit card transactions are the day-to-day purchases you make with your Heartland Bank Debit Card at the grocery store, gas station, drug store, or wherever you shop. The Federal Reserve rules do not apply to debit card transactions that have been set up to recur on a regularly scheduled basis.

What types of ATM transactions are affected by the rules?

The regulations apply to withdrawals or transfers made from your Heartland Bank personal checking account at any ATM. If you choose not to Opt In, you will not be allowed to withdraw or transfer an amount that is greater than the funds available in your account at that time, even if you have our Overdraft Honor service.

Why should I Opt In?

Opting In provides peace of mind and allows Heartland Bank to handle your account activity in the same manner as we always have in the past. There is no charge unless you use the service, and although you may never need it, it is very handy service to have available.

What happens if I don’t Opt In?

If you do not Opt In, you are no longer allowing Heartland Bank to handle your account activity in the same manner we always have. If for any reason you are short on a debit card purchase or at the ATM, the transaction will be automatically rejected and we will not have the option to pay it, even if you have our Overdraft Honor service. Whether the card is being used for groceries, prescriptions, or cash for family emergencies, there will be nothing we can do in that moment to change that for you. By giving this authorization, or “Opting In”, you are choosing to allow Heartland Bank to handle your account activity in the same manner as we always have in the past.

What does it mean to be declined?

If you have chosen not to Opt In and you attempt to make a purchase with your Heartland Bank Debit Card that is for more than the funds available, the merchant will not be able to accept your Debit Card as a form of payment and will decline the purchase.

Once I Opt In, can I Opt Out at a later date?

Yes. You or any joint owner on the account may revoke this consent at any time. Just call or stop by a Heartland Bank office, phone our Customer Care Center at 888-897-2276 or mail your request to:

    Heartland Bank
    PO Box 67
    Bloomington, IL 61702-0067

By Opting In, am I signing up to pay overdraft fees?

There is no charge to your account if you don’t use the service. If you carefully track your transactions using your check register and keep sufficient funds in your account, then you won’t need to use the service at all. Any overdraft service on your account will be there just for your peace of mind.

How can I avoid overdrafts?

The best way to avoid overdrafts is to keep a current and accurate transaction register and balance it to your monthly statements. Also, be sure to record automatic payments, bill pay transactions, debit card purchases, etc. Information from online banking, telephone banking, or ATMs can be very helpful sources, but they do not reflect outstanding transactions that have not yet been posted to your account. If you need any assistance with learning how to reconcile your statements, we will be happy to help you.