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

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.

  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 savings account, which may be less expensive than our standard plan. To learn more, ask us about this plan. 

This notice explains our 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 & 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. 
    • Consumer and personal accounts: We do not charge an NSF fee when we return an item unpaid. We will charge an NSF fee for a transaction that may have been previously returned unpaid if it is later paid against an overdrawn balance.   

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

For consumers that want us to authorize and pay 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.

ATM and One-Time Debit Card Election Form