eCentive™ Account Terms and Conditions
TRUTH IN SAVINGS DISCLOSURE
The interest rate and annual percentage yield stated below are accurate as of Sunday, May 26, 2013. If you would like more current rate and yield information please call us at (800) 344-7048.
We reserve the right to require written notice, 7 days in advance, before we allow you to withdraw from an interest bearing account.
When the eCentive Account qualifications are not met, the interest rate on your account is 0.05% and corresponding annual percentage yield (APY) is 0.05%. You must maintain a daily collected (available) balance of $0.01 to obtain this disclosed annual percentage yield.
When the eCentive Account qualifications are met, the interest rate on your account for balances up to $25,000 is 1.25% with a corresponding annual percentage yield (APY) of 1.26% for the entire statement cycle. The interest rate on balances over $25,000 is 0.05% with a corresponding annual percentage yield (APY) of 0.05%. You must maintain a daily collected (available) balance of $0.01 to obtain this disclosed annual percentage yield.
We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Interest rates and APYs may change daily, at our discretion.
Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Interest is compounded monthly. Interest will be credited to your account monthly. If you close your account prior to interest being credited, you will receive your accrued interest.
You must deposit $50.00 to open this account.
eCentive Account Qualifications
When you meet the eCentive Account qualifications we will refund domestic ATM fees and Non-Shazam ATM fees totaling up to $25.00 per cycle.
The following fees apply to this account:
Abandoned account*: $25.00
Account closure within 6 months of account opening*: $30.00
Deposited items returned*: $6.00 per returned check
Foreign Deposited items returned*: cost plus $6.00 per returned check
Dormant account*: $25.00 per year
Inactive account*: $25.00
Overdrafts/NSF’s: $27.00 per item
Shazam Debit Card:
Stop Payments*: $25.00 per item/ Lost Check Book*: $40.00
* All Fees marked with an asterisk (*) are subject to Iowa State sales tax of 7.00%
For a complete list of service charges please refer to our Consumer Fee Schedule
FUNDS AVAILABILITY POLICY DISCLOSURE
YOUR ABILITY TO WITHDRAW FUNDS AT HERITAGE BANK NA. Our policy is to make funds from your cash and check deposits available to you on the same business day as the day we receive your deposit. Once the funds are available, you can withdraw them in cash and/or we will use them to pay checks that you have written. For determining the availability of your deposits, everyday is a business day, except Saturdays, Sundays, and federal holidays. We have different deposit cut-off hours for different locations. Our cut-off hours are as follows:
If you make a deposit before our cut-off hour on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit or loan payment after our cut-off hour or on a day we are not open, we will consider that the deposit or loan payment was made on the next business day we are open.
Longer Delays May Apply. In some cases, we will not make all of the funds that you deposit by check available to you on the same business day as the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the seventh business day after the day of your deposit. The first $200 of your deposit, however, may be available on the same business day of your deposit. If we are not going to make all of the funds from your deposit available on the same business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the business day after we receive your deposit. If you need the funds from a deposit right away, you should ask us when the funds will be available.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.
Holds On Other Funds. If we cash a check for you that is drawn on anther financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to with draw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
Deposits at Automated Teller Machines. Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth business day after the day of your deposit. This rule does not apply to ATMs that we own or operate. All ATMs that we own or operate are identified as our machines.
Special Rules For New Accounts. If you are a new customer, the following special rules will apply during the first 30 days your account is open:
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day's total deposits of cashier's, certified, teller's, travelers’, and federal, state and local government checks will be available on the same business day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the seventh business day after the day of your deposit.
ELECTRONIC FUND TRANSFERS
YOUR RIGHTS AND RESPONSIBILITIES
The Electronic Fund Transfers we are capable of handling for consumers are indicated below, some of which may not apply to your account. Some of these may not be available at all terminals. Please read this disclosure carefully because it tells you your rights and obligations for these transactions. You should keep this notice for future reference.
TYPES OF TRANSFERS, FREQUENCY AND DOLLAR LIMITATIONS
A. Prearranged Transfers
Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking and/or savings account(s),
Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking and/or savings account(s).
B. ATM Transfers. You may access your account(s) by ATM using your Shazam Check Card and personal identification number to:
Make deposits to checking accounts
Make deposits to savings accounts
Get cash withdrawals from checking accounts (you may withdraw no more than $500.00 per day)
Get cash withdrawals from savings accounts (you may withdraw no more than $500.00 per day)
Transfer funds from savings to checking
Transfer funds from checking to savings
Get checking account(s) information
Get savings account(s) information
The balance available for ATM withdrawal & transfer includes current account balance plus pre-authorized transfers from other accounts, Ready Reserve and/or other loans.
C. Point-Of-Sale Transactions
Using your card:
You may access your checking account to purchase goods (in person, by phone, by computer), pay for services (in person, by phone, by computer), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.
You may not exceed more than $1,000.00 in transactions per day.
The balance available for Point of Sale transactions includes current account balance plus pre-authorized transfers from other accounts, Ready Reserve and/or other loans.
D. Computer/Mobile Banking Transactions. You may access your account(s) by computer and/or mobile device at www.heritagebankna.com and using your account numbers, or access id and password to:
Transfer funds from checking to savings
Transfer funds from savings to checking
Make payments from checking to loan accounts with us
Make payments from savings to loan accounts with us
Make online bill payments (not available for Mobile Banking)
Get checking account(s) information
Get savings account(s) information
Transfer funds between eligible accounts
E. Electronic Funds Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic funds transfers between your account and the third party’s account. These transfers to make or receive payments may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice with a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and financial institution information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your financial institution and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers.
ATM Operator/Network Fees: When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).
TIME NEEDED TO COMPLETE TERMINAL TRANSACTIONS
REVERSAL OF POINT-OF-SALE TRANSACTIONS
You cannot reverse a point-of-sale transaction.
Payment for goods and services in this manner shall not affect any of the rights, protections, or liabilities in existing law concerning a cash or credit sale made by means other than through the use of a terminal.
FINANCIAL INSTITUTION’S LIABILITY
Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:
We will disclose information to third parties about your account or the transfers you make:
Consumer Liability. Tell us at once if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all of the money in your account (plus your maximum line of credit). We will be liable for all unauthorized transfers unless the unauthorized transfer was due to the loss or theft of your card and/or code. If due to the loss or theft of your card and/or code, you notify us within 60 days of when the unauthorized transfer appears on the statement you can lose no more than $50 if someone used your card and/or code without permission.
If you do NOT notify us within 60 days after the unauthorized transfer appears on your statement, and we can prove that we could have stopped someone from using your card and/or code without your permission if you had told us within 2 days of when you discover the loss or theft of your card and/or code, you could lose as much as $500 for unauthorized transfers that appear on the statement.
Also, if your statement shows transfers that you did not make, including those made by card, code, or other means tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we prove that we could have stopped someone from taking the money if you had told us in time.
If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
Visa Debit Card. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Visa card. This additional limit on liability does not apply to ATM transactions or to transactions using your Personal Identification Number which are not processed by Visa. Visa is a registered trademark of Visa International Service Association.
Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen, call us at (800) 344-7048, write to us at Heritage Bank, ATTN: Customer Ops, P.O. Box 1124, Willmar, MN 56201, or login to Online Banking at www.heritagebankna.com and submit a secure contact form as soon as you can. You should also contact us if you believe a transfer had been made using the information from your check without permission.
RIGHT TO BRING CIVIL ACTION
You may bring civil action against any person violating any provision of Minnesota Statutes 47.69 (governing consumer privacy and unauthorized withdrawals.) If you prevail in such an action, you may recover the greater of your actual damages or $500.00. You may also be entitled to recover punitive damages, your court costs and reasonable attorney’s fees.
You agree that you will not reveal your online access information to any person not authorized by you to use it and will not leave your computer terminal unattended after you have logged in using your online access or other confidential information.
Business Days: Our business days are Monday through Friday, excluding Federal Holidays.
ERROR RESOLUTION NOTICE
In case of Errors or Questions About Your Electronic Transfers, call us at (800) 344-7048, or write to us at Heritage Bank, ATTN: Customer Ops, P.O. Box 1124, Willmar, MN 56201, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 10 business days (5 business days if involving a Visa transaction or 20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 days if involving a Visa transaction or 20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. An account is considered a new account for 30 days after the first deposit is made, if you are a new customer.
We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
AMENDMENTS AND TERMINATION
We reserve the right to amend any terms in this disclosure and to terminate your card privileges upon giving written notice to you within a reasonable period of time in advance of the effective date to the amendment or termination. You may terminate your card privilege by notifying us and returning your card.
Foreign Currency Conversion: When you use your card at a merchant that settles in currency other than US dollars, the change will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either a government-mandated rate or the wholesale market rate in effect the day before the processing date, increased by 1%.
FACTS: WHAT DOES HERITAGE BANK N.A. DO WITH YOUR PERSONAL INFORMATION?
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
The types of personal information we collect and share depend on the product or service you have with us. This information can include:
When you are no longer our customer, we continue to share your information as described in this notice.
All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Heritage Bank chooses to share; and whether you can limit this sharing.
|Reasons we can share your personal information||Does Heritage Bank share?||Can you limit this sharing?|
|For our everyday business purposes— such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus||Yes||No|
|For our marketing purposes— to offer our products and services to you||Yes||No|
|For joint marketing with other financial companies||Yes||No|
|For our affiliates’ everyday business purposes— information about your transactions and experiences||Yes||No|
|For our affiliates’ everyday business purposes— information about your creditworthiness||No||We don't share|
|For nonaffiliates to market to you||No||We don't share|
Call (800) 344-7048 or go to www.heritagebankna.com
|What We Do|
|How does Heritage Bank protect my personal information?||To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We also maintain other physical, electronic and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate.|
|How does Heritage Bank collect my personal information?||
We collect your personal information, for example, when you
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
|Why can’t I limit all sharing?||
Federal law gives you the right to limit only
Companies related by common ownership or control. They can be financial and nonfinancial companies.
Companies not related by common ownership or control. They can be financial and nonfinancial companies.
A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
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