One-Time Debit Transaction Opt In: What You Need To Know

Review this page to learn everything you need to know about overdraft and overdraft fees. 

What You Need To Know About Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. Gulf Coast Bank also offers the below overdraft services.

  1. We offer a standard overdraft practice that is available with your account called Discretionary Overdraft Privilege. You may choose to participate in this plan if you meet the qualifications. To learn more, ask us about this plan. 

  2. We also offer overdraft protection plans, such as a link to a automatic transfer from a savings or money market, which may be less expensive than our standard plan. To learn more, ask us about this plan. 

If you would like to revoke a previous opt in election, please complete our overdraft privilege election form. 

Standard Overdraft Practices 

What are the standard overdraft practices that come with my account? 

We will not authorize and pay overdrafts for the following types of transactions unless you have asked us to:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments

We will not authorize and pay overdrafts for the following types of transactions unless you ask us to: 

  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.  If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Gulf Coast Bank and Trust pays my overdraft? 

Under our standard overdraft practices: 

  • We will charge you a fee of up to $35.00 each time we pay an overdraft.
  • We will not charge you a fee if your account balance at the end of the business day is overdrawn by $25.00 or less.
  • For Consumer accounts ONLY, there is a limit of $105.00 per day on the total fees we can charge you for overdrawing your account. 

What if I want Gulf Coast Bank and Trust to authorize and pay overdrafts on my ATM and everyday debit card transactions? 

If wish the Bank to authorize and pay overdrafts on ATM and everyday debit card transactions, call 1-800-223-2060, visit our website at www.gulfbank.com, or complete and submit the form below and present it at a branch or mail it to: Gulf Coast Bank & Trust Attn: Deposit Services 8216 W. Judge Perez Dr. Chalmette, LA 70043-1612.

You can revoke your authorization for Gulf Coast Bank & Trust to pay these overdrafts at any time by any of the above methods. Your revocation must include both your name and account number so that we can properly identify your account.

Click here to Opt In, Opt Out or Revoke a Previous Opt In Election