ODT Plus Debit Card Opt-in/Out

What You Need To Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that come with qualifying accounts.
We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

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

We do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments
Recurring debit card transactions

We do not authorize and pay overdrafts for the following types of transactions:

ATM transactions

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Heritage Federal Credit Union pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30.00 each time we pay an overdraft.
Also, if your account is overdrawn for 8 or more consecutive business days, we will charge an additional $3.00 per day, up to 20 days or until your account becomes current.
There is no limit on the total fees we can charge you for overdrawing your account.

What if I want Heritage Federal Credit Union to authorize and pay overdrafts on my everyday debit card transactions?

If you want us to authorize and pay overdrafts on everyday debit card transactions, complete the below online form. You may also call 812-253-6928, Option 1, log in to mobile banking, or stop by any branch location.

Can I revoke my authorization in the future?

Yes, you may revoke your prior consent at any time by completing the information below and submitting the online form. You may also call 812-253-6928, Option 1, log in to mobile banking, or stop by any branch location. Once authorization is revoked, any future items may be returned or denied.

* Required Fields

Terms of Service: Review Above or Click Here to Print

Authorize:

Yes, I want Heritage Federal Credit Union to authorize and pay overdrafts on my everyday debit card transactions.

No, I do not want Heritage Federal Credit Union to authorize and pay overdraft on my everyday debit card transactions.

First Name:

Middle Name:

Last Name:

Last 4 digits of your Social Security Number:

Email Address:

Last 4 digits of your Account Number:

If you have additional Accounts that you would like to Opt-In/Opt-Out of "ODT Plus" list them below:

Last 4 digits of your Account Number:

Disclaimers

Opt-In & Opt-Out requests submitted thought the Heritage Federal Credit Union website, may take up to five (5) business days to before your request is processed.
You may Opt-In to “ODT Plus” at any time, but your everyday debit card purchases may not be covered unless your account qualifies for “ODT” and your account overdraft limits are not exceeded.
There are overdraft dollar limits for “ODT” and “ODT Plus” that generally coincide with your checking type. For more information, call 812-253-6928, option 1 or stop by any branch location.
Only one owner per account must Opt-In/Out for a consent to take place.
“ODT Plus” Debit Card Overdraft Opt-In only applies to consumer accounts. All business accounts and transactions will be processed under the credit unions standard overdraft practices.

Disclosure:

By submitting this form, I hereby state that I have read and understand my "ODT Plus" Debit Card Overdraft Opt-In/Opt-Out decision.

The box below must be checked in order to submit this request.

Security Code:

¹Overdraft Tolerance (ODT) and Overdraft Tolerance Plus (ODT Plus) are discretionary services. ODT Plus requires your opt-in. We may at our sole discretion limit the number of accounts eligible for ODT and ODT Plus to one account per household or per taxpayer identification number. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing. An account in good standing exhibits at a minimum the following:

The account has been open for at least ninety (90) days;
The minimum balance is maintained in the primary share as defined by the credit union;
The account owner has not caused the credit union a loss through a charged-off account;
The account owner is not delinquent more than thirty (30) days on all loan obligations with us;
The account is brought to a positive balance within every fifteen (15) day period for a minimum period of 24 hours; and
The account is not subject to any legal or administrative order or levy, such as bankruptcy or tax lien.

A fee may be imposed for covering overdrafts created by check, automatic bill payment, preauthorized automatic debit, one-time debit purchase, or other means. The fee may also be charged when covering an overdraft caused when there are insufficient funds because previously deposited funds are subject to a hold or uncollected. For each overdraft we pay, we will charge a per presentment overdraft tolerance charge of $30.00. In addition, we will charge your account a $3.00 per day “daily overdraft fee” after seven (7) consecutive days your account is overdrawn. The per presentment and per day overdraft fees count toward your ODT limit.

Go to main navigation