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Dip into our palette of resources.


Glossary of Terms

Annual Percentage Yield (APY) — Percentage rate that reflects the total amount if interest paid on the account

ATM Card — A card without the VISA® logo on the face of the card that can be used at all participating network ATMs and Point of Sale locations

Bonds — Interest-bearing certificates of debt, usually issued as securities

Check 21 — A substitute check that has the same legal validity as the original paper check. Check 21 reduces the nation’s check payment systems dependence on physical transportation networks, and streamlines the collection and return process

Check Imaging — A process of capturing, indexing, storing, and retrieving electronic images of checks

Check Card — An ATM card enhanced with the VISA® logo on the face of the card. This allows you to make purchases at all merchant and retail locations which accept VISA® credit cards

Demand Draft — instrument not signed by an account holder that is created by a third party under the purported authority of the account holder for the purpose of charging the account holder’s account with a financial institution

Direct Deposit — automatically deposit your funds into your account held with the Bank

Federal Deposit Insurance Corporation (FDIC) — a corporation organized by the government to insure deposits

Initial Interest Rate — Current annual rate of interest that Heritage Bank will pay on the specified balance

Interest Compounding — interest accrued on earned interest

Line of Credit — An arrangement in which a bank or vendor extends a specified amount of unsecured credit to a specified person or business for a specified period of time

Non Sufficient Funds (NSF) — checks presented against your account without sufficient balances to pay the items

Personal Identification Number — PIN

Point of Sale (POS) Transactions — A transaction occurring when you purchase goods or services from a merchant using your Card and PIN

Returned Items — deposited checks that are dishonored for reasons including payment stopped, NSF, and account closed

Stale Dated Checks — A check presented for payment more than 6 months after its date

Signature Card — A card with the signatures of all persons authorized to conduct transactions on the account and is on file with Heritage Bank

Substitute Check — Paper reproduction of the original check front and back

USA Patriot Act — to help the government fight the funding of terrorism and money laundering activities. Requires all financial institutions to obtain, verify, and record information that identifies each person who opens and account