Joint Minor Savings Disclosure Packet


Truth In Savings Disclosure

Account Type: Joint Minor Savings

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.

We reserve the right to at any time require not less than seven (7) days notice in writing before any withdrawal from an interest bearing account.

Minimum Balance Requirements

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

Service Charge

  • There is no monthly service charge for this account.

Additional Fees

  • A fee of $5.00 per debit/withdrawal transaction, excluding ATM transactions, in excess of six (6) per month will be assessed.
  • Quarterly Paper Statement fee of $4.85.
  • Quarterly paper statement fee waived if one of the following is met:
    • Average quarter to date* balance of $5,000 or greater OR
    • Average quarter to date* balance of $25,000 or greater in qualifying deposits (See Additional Terms for qualifying accounts) OR
    • Account is set up for eStatements
    • *Average quarter to date cycle will end one business day prior to the statement cycle.
  • If the primary bank account holder decides to cancel their eStatement at any time, or if we have reason to believe that they are not receiving their eStatement or eNotification a $4.85 quarterly paper statement fee will be assessed unless the average quarter to date balance of $5,000 or greater OR average quarter to date balance of $25,000 or greater in qualifying deposits applies.

  • 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 may change.
  • The initial interest rate and annual percentage yield on your account is determined by the interest rate tier that your initial deposit falls into on the day your account is opened.
Account Interest Rate Tiers:
Balance Tier Interest Rate Annual Percentage Yield (APY)
$250,000.00 and greater 0.50% 0.50%
$100,000.00 - $249,999.99 0.20% 0.20%
$0.01 - $99,999.99 0.20% 0.20%
  • 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 quarterly. Interest will be credited quarterly.
  •  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

  • You will receive a quarterly periodic statement unless electronic activity triggers a monthly statement.
  • If the account is enrolled in eStatements, an email notification to the email of record when when the 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. Minors age 15 up to age 18 can enroll in online banking at by selecting Sign up under the New to Online Banking. The joint accountholder must enroll the account in online banking if the minor has not yet reached the age of 15. After enrollment, the account can be enrolled in eStatements by going to and follow the steps for Minor Savings, Trust, Estate, & _________________________________ Accounts.
  • If the account holder is not actively enrolled in eStatements at any time, for any reason, the account will receive a quarterly 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.
  • A parent or legal guardian MUST be a joint owner on this account.  
  • Qualifying deposits includes all personal checking, savings or certificates of deposits that are directly linked to this account.

REV 12/21