OVERDRAFT SERVICES DISCLOSURE

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. We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account
  2. We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

THIS NOTICE EXPLAINS OUR STANDARD OVERDRAFT PRACTICES.

What are the standard overdraft practices that come with my account?
   
We do authorize and pay overdrafts for the following types of transactions:

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

We do 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 GUARANTY BANK & TRUST PAYS MY OVERDRAFT?

Under our standard overdraft practices:

  • The bank will not charge you a fee if the item(s) that are paid result in your account being overdrawn between $0.01 and $10.00 at the end of the day.
  • The bank will charge you a fee of $16.00 each time we pay an item drawn against non-sufficient funds when the amount of the item is less than $20.00 and is paid within your designated overdraft limit.
  • The bank will charge you a fee of $32.00 for all other items paid or returned when drawn against non-sufficient funds.
  • The maximum daily amount of fees the bank will charge you for overdrawing your account is $160.00

WHAT IF I WANT GUARANTY BANK & TRUST TO AUTHORIZE AND PAY OVERDRAFTS ON MY ATM AND EVERYDAY DEBIT CARD TRANSACTIONS?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, please click on the link below to complete the request form or you may call (888) 572-9881 or visit any of our locations.

If you have previously given your consent to have us authorize and pay overdrafts on ATM and everyday debit card transactions, you may revoke that consent at any time by clicking the link below and choosing the “opt-out” option or you may call (888) 572-9881, or visit any of our locations.

Click here to complete a form for each bank account that may be tied to your ATM card or debit card.

Overdraft Disclaimer

Overdraft protection is subject to approval.  If you have overdraft protection on your account, Guaranty Bank & Trust, N.A. (“the Bank”) will not charge a fee if the item(s) that are paid results in your account being overdrawn between $0.01 and $10.00 at the end of the business day. The bank will charge a fee of $16.00 each time we pay an item drawn against non-sufficient funds when the amount of the item is less than $20.00 and is paid within your designated overdraft limit. The bank will charge you a fee of $32.00 for all other items paid or returned when drawn against non-sufficient funds. The maximum daily amount of fees the bank will charge you for overdrawing your account is $160.00. These fees may be imposed for covering overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means.  Whether the Bank will pay your overdrafts is discretionary and not a right or obligation. The Bank reserves the right not to pay. For example, the bank typically does not pay overdrafts if your account is not in good standing, regular deposits are not being made to your account, or there are excessive overdrafts on your account. Termination of said account can result if the account remains in overdraft status for a period of 45 consecutive calendar days, and may lead to the account being charged off after 60 consecutive days.​