About Heritage Bank
Heritage Bank traces its roots back to 1969 and the founding of the Geiger Corporation. The Geiger family is still actively involved with Tom Geiger serving as Chief Executive Officer of the Bank. The bank is headquartered in Spicer, Minnesota and offers full-service personal and business banking..
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Heritage Bank Overview
Heritage Bank is a regional bank that operates six branches in Iowa, Minnesota, and South Dakota. It offers fee-free access to more than 50,000 Allpoint ATMs nationwide, as well as more than 100 Heritage Bank ATMs in the states it operates in. The bank offers a wide variety of banking products, such as CDs, checking, money market, and savings accounts.
| Competitive APYs on some of its CD products. | High excess withdrawal fees on its savings accounts. |
| Wide selection of checking and savings accounts. | Higher than average minimum opening deposits on its CD products. |
| Peer-to-Peet transactions are available via Zelle. | No money market options. |
| Access to more than 50,000 Allpoint ATMs nationwide. |
Heritage Bank Product Offerings
CDs
A certificate of deposit (CD) is a form of savings account that pays a fixed interest rate on the money in the account for a certain period, known as a term. Heritage Bank offers a limited selection of CDs with terms varying from six months up to five years. Aside from the six- and 12-month CDs, the rest of its CDs offer below-average APYs. Here are some of their best CD offerings for May 2025:
Checking Accounts
Heritage Bank offers several different business and personal checking accounts. Most of the checking accounts offer APYs below the national average of 0.01% for checking accounts. Heritage Bank offers a wide selection of checking accounts with and without monthly service charges, some of which do not require minimum opening deposits. Here are the latest account details for May 2025:
Savings Accounts
A savings account is a type of bank account that allows you to save your money while earning interest. Heritage Bank offers several business and one personal savings account with varying opening deposit requirements. Here are the latest savings account details for May 2025:
Bank Fees
Overdraft fee: $33
Savings and Money Market Account withdrawal fee: $30
Account closure fee: $30 if closed within the first six months
Wire transfer fee: Domestic - Incoming is $18 and outgoing is $30; International - Incoming is $35 and outgoing is $60
Non-network ATM fee: None
Monthly service charge: $5-$500 depending on the type of account
Stop payment fee: $35
Paper statement fee: $4
Heritage Bank Features
Heritage Bank's customer service line is available Monday through Friday from 9 a.m. to 4 p.m. CST.. The bank offers an automated telephone line that is available 24 hours a day, 7 days a week, for basic account information and changes. There is also a live chat available at all times. Customers have fee-free access to the more than 50,000 Allpoint ATMs nationwide. The bank also offers a mobile app for Peer-to-Peer transactions via Zelle to process transactions and manage your bank account.
Heritage Bank FAQs
Our Take
Heritage Bank is a regional bank headquartered in Minnesota and currently operates four branches in Minnesota, one in Iowa, and one in South Dakota. The bank offers a highly competitive APY on its six- and 12-month CDs as well as on its Jumbo Deposit savings accounts. The drawback to its CDs is that the minimum opening deposit is slightly higher than the minimum at most other banks. There are several checking account options, one of which is a free checking account, which makes opening an account very convenient. As with most regional banks, it may be a good option for residents of Minnesota, Iowa, and South Dakota, as it operates its branches in those states.
Methodology
Our editorial staff continually updates the information contained on our website. Our editorial staff has analyzed virtually all of the banks and credit unions that it follows, and it does weekly rate analysis for more than 250 prominent banks and credit unions. These institutions were chosen because they provide competitive APYs, low fees, and other factors we find important. These banks and credit unions often provide accounts that are available nationally. All of these banks are FDIC-insured, and all of these credit unions are NCUA-insured. Choosing an FDIC-insured bank or an NCUA-backed credit union assures that your money is protected as long as it stays within insurance limits and requirements.