Health Savings Disclosure Packet


Gulf Coast Bank & Trust Co.
Contact Information:
200 St. Charles Ave. New Orleans, LA 70130

Truth In Savings Disclosure

Account Type: Health Savings Checking Account 

Account #: _________________________________

Date: _______________________

This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular. 

Minimum Balance Requirements

  • A minimum deposit of $20 is required to open account

Service Charge

  • $2.00 monthly service cycle charge.
  • Monthly service cycle charge will be waived if one of the following is met:
    • Average month to date balance of $1,000 OR
    • Average month to date balance of $25,000 or greater in qualifying deposits (See Additional Terms for qualifying accounts)
  • Monthly Paper Statement fee of $4.85
  • Monthly paper statement fee waived if one of the following is met:
    • Average month to date balance of $1000 OR
    • Average month to date balance of $25,000 or greater in qualifying deposits (See Additional Terms for qualifying accounts) OR
    • Account is set for eStatements
  • If the primary account holder decides to cancel their eStatement at any time or we have reason to believe that they are not receiving their eStatement or eNotification, a $4.85 monthly paper statement fee will be assessed unless the average month to date balance of $1,000 or greater OR average month to date balance of $25,000 or greater in qualifying deposits applies.

  • The primary account holder must maintain an active internet banking account and current , active email address.
    (See Gulf Coast Bank and Trust Co. Internet Banking and eSign Disclosure)

Additional Fees

  • A $5.00 monthly Dormant fee will be assessed if your account reaches Dormant account status. (See Additional Terms on Page 2.)
  • See Notice of Disclosure for Services and Fees for a list of additional fees that may apply.

Variable Rate

  • The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change.
  • The initial interest rate and annual percentage yield for your account is tiered and is determined by the rate tier that
    your initial deposit falls into on the date your account is opened.
  • Account Interest Rate Tiers

  Interest Rate Annual Percentage Yield (APY)
$250,000 and greater 0.05% 0.05%
$100,000.00 - $249,999.99 0.05% 0.05%
$0.01 - $99,999.99 0.05% 0.05%

  • The interest rate and annual percentage yield stated above are accurate as of the date printed above. If you would like more current rate and yield information please call us at one of the numbers listed above.
  • Fees may reduce earnings

Frequency of Rate Change

  •  At our discretion, we may change the interest rate on your account at any time.

Accrual of Interest on Noncash Deposits

  •  Interest will begin to accrue the next business day following the day of your opening deposit.

Compounding, Crediting and Balance Computation

  •  Interest is compounded monthly. Interest will be credited at the end of each statement cycle.
  •  There is no minimum balance required to earn interest.
  • If you close your account before interest is credited, you will not receive the accrued interest.
  •  We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The daily periodic rate may vary.
  •  The period we use is days in statement cycle.

Additional Terms

  • If the account holder has enrolled in eStatements, they will receive an email notification when their statement is ready for viewing at (see Gulf Coast Bank & Trust Co. Internet Banking and eSign Disclosure). Images of processed items are available online. Active internet banking account and email address is required at all times.

  • If the account holder is not actively enrolled in eStatements at any time, for any reason, they will receive a monthly paper statement mailed to their address of record.

  • Your account will be placed in Dormant Status after 12 months of inactivity. While your account is dormant, any applicable monthly service charges and monthly paper statement fees will be waived.  You will no longer receive periodic statements and/or eStatement notifications. Upon reactivating your account, you will begin to receive a periodic statement and all fees associated with the account product will be assessed, unless you meet the balance requirements if applicable.

  • Images of paid checks and deposit slips are available through our online banking website or at your local branch.

  • Check printing fees may apply - Prices will vary.

  • Checks and debit card should be used for Normal Distributions only. Withdrawal forms must be submitted for other types of distributions, such as death, disability, prohibited, and excess contribution removal.

  • Additional disclosures for this account are included in your Health Savings Agreement.

  • Qualifying deposits includes all personal checking, savings or certificates of deposits that are directly linked to this account.

  • Point of sale transactions - dollar limit - The total of pending PIN-based and signature -based transactions may not exceed $1000.00.

Rev 10/21

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