Heartland Credit Union - Privilege Pay Changes

IMPORTANT NOTICE about your Heartland Debit Card & Privilege Pay Regulations regarding Debit Card Transactions are changing - effective July 1, 2010. As a service to you, your Heartland checking account currently has a convenient feature called Privilege Pay (an Overdraft Program) that allows us to approve transactions even if you don't have the funds available in your account to cover them. According to new Federal Regulations we can no longer provide this coverage automatically for everyday debit card transactions. You must tell us if you want it by "opting-in" to the program to continue this service. This new regulation does not apply to Business Accounts.	Resources Helpful Answers to Your Questions Why Opt-In? Online Opt Form
What Is Privilege Pay? Have you ever balanced your checkbook wrong? Found yourself a little short on money in your account? Had an unexpected expense and needed cash fast? Instead of denying transactions from clearing your checking account when you don't have the funds to cover your transactions, the Privilege Pay Program approves the transactions, at our discretion, and allows your transactions to clear.
Do I Qualify for Privilege Pay? To qualify for Privilege Pay no application is necessary, you must simply meet the following criteria: Have a Heartland Checking account that has be open for a minimum of 90 days Must be at least 18 years old Checking balance cannot be negative for more than 10 days Cannot have delinquent loans of more than $25 for more than 45 days Must have a deposit of at least $200 in the last 15 days Cannot have filed Chapter 7 or 13 bankruptcy
How Much Does it Cost? NO FEE to have Privilege Pay available on your account. NO FEE if you never use it. Each time Privilege Pay covers your transactions, because you didn't have enough money in your account, you pay $30.
What Happens if I Don't Opt-In to Privilege Pay? It's your choice to make Privilege Pay available on your account by opting in or opting out. If you do not opt-in your everyday debit card transactions may be denied if the money is not available in your account. Simply put, if you use your card to pay at the grocery store, gas station or other merchants and you don't have enough money in your account your transaction could be denied. Learn more.
How Do I Keep Privilege Pay On My Account? To keep the Privilege Pay program on your account, and keep your debit card working as it currently does, you must tell us you want it. To do this simply Opt-In. You can Opt-In: Online By Mail or Fax: Print, complete and return via fax to (651) 451-1591. Or mail to: Heartland Credit Union 5500 South Robert Trail Inver Grove Heights, MN. By Phone: Call us at (651) 451-5160 or (800) 813-9185. Please review this required form before calling. In Person: Visit a Heartland branch.

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