Overdraft Services

Overdraft Services for Personal Checking

What Are My Overdraft Options?

It happens to everyone now and then: A deposit goes unmade, a payment goes unrecorded, and then, at the worst possible moment, your purchase is declined. GWB provides various Overdraft Services to help you with unplanned or occasional overdrafts. Consider these ways to cover your overdrafts:

Overdraft Coverage

Overdraft coverage means certain purchases and transactions may be covered even if there isn’t enough money in your account. Your account comes with our Standard Overdraft Coverage and you may enroll in our Optional Overdraft Coverage.

  Standard Overdraft Coverage Optional Overdraft Coverage

 

 

How it Works        

GWB may authorize and pay overdrafts for:
  • Checks and other transactions made using your checking account number
  • Automatic pre-authorized bill payments
GWB will not authorize and pay overdrafts:
  • ATM transactions
  • Everyday (one time, non-recurring) debit card transactions

Smart Start Banking is not eligible for Optional Overdraft Coverage.

GWB has your permission to consider (at our discretion) paying ATM and everyday (one-time) debit card transactions even if you don’t have funds in your account.

You must enroll in this coverage option for your everyday debit card and ATM transactions to be approved beyond the balance in your account.

Smart Start Banking is not eligible for Optional Overdraft Coverage.

 

 

Additional
Information                                                                   

GWB pays overdrafts at our discretion, which means we do not guarantee that we will always pay any type of transaction.


If we do not authorize and pay an overdraft, your item will be returned unpaid and you will be charged a return fee.

If you say “Yes” to Optional Overdraft Coverage the bank may pay these transactions and charge overdraft fees.

If you say “No” to Optional Overdraft Coverage these transactions will be declined, and you will not be charged the overdraft fees below.

Note: Saying “No” to Optional Overdraft Coverage does not guarantee that you will avoid any overdraft fees under your Standard Overdraft Coverage.

 

 

Rates and Fees              

$35.00 fee per item
If you overdraw your account by $10.00 or more we will charge you a fee of $35.00 for each item presented over $5.00 up to a maximum of $175.00 per account per day. These fees apply whether the item is paid or returned.

$12.00 Continuous Overdraft fee
If your account is overdrawn for 5 or more consecutive business days, we will charge an additional $12.00 per business day.

$35.00 fee per item
If you overdraw your account by $10.00 or more we will charge you a fee of $35.00 for each item presented over $5.00 up to a maximum of $175.00 per account per day.

$12.00 Continuous Overdraft fee
If your account is overdrawn for 5 or more consecutive business days, we will charge
an additional $12.00 per business day.

 

Overdraft Protection Plans1

We also offer Overdraft Protection Plans to help you avoid being overdrawn.

  Overdraft Protection Account GWB Ready Reserve Line of Credit

 

How it Works

You can link your GWB Savings Account, Money Market or another GWB Checking Account to use your own funds to cover any overdrafts. Available funds will be automatically moved from your linked account to your checking account to help cover the transaction or purchase.

Smart Start Banking is not eligible for Overdraft Sweep.
A GWB Ready Reserve Line of Credit provides the ability to apply for a line of credit and we will cover your transaction up to your available credit limit.

Smart Start Banking is not eligible for a GWB Ready Reserve Line of Credit.

 

Additional
Information    

You must have enough funds available in your linked savings account for the transfer to occur. You will be billed monthly for overdraft transfers and any applicable interest charges and fees on your Overdraft Line of Credit statement that is combined with your monthly checking account statement.
Subject to credit approval.

 

Rates and Fees

$10.00 fee per transfer
  • When you overdraw, the exact amount of the negative balance plus the $10.00 transfer fee will be transferred the next business day
  • No transfer fee when your account is overdrawn by $10.00 or less
Annual Percentage Rate (APR): 18%
 
No annual fee
  • A fee of 5% of the funds advanced is applied each time the line is used, with a maximum of $15.00

 

Important Details & Authorization Form

 

1If you choose to enroll in Optional Overdraft Coverage you are not eligible for Overdraft Protection.
2Your account can only be enrolled in one Overdraft Protection Plan.

Tips for managing your account and avoiding fees

  • Monitor your spending. Keep track of each check, debit card purchase, transfer and ATM withdrawal as it is made and keep track of automatic payments such as utilities and insurance.
  • Review your statement regularly.
  • Register your account for Online Banking and download our Mobile Banking app, they’re both free! Then, set up Online Account Alerts to receive email updates on the status of your GWB personal checking account.