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. We can cover your overdrafts in two 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 or line of credit, which may be less expensive than our standard overdraft practices.

You can check your balance with your mobile phone, in the online services section at www.gcfcu.org., or by calling CoastLine 24 at 561-439-2322 from any phone. These services will allow you to transfer money to cover a potential overdraft. They are available 24 hours a day, seven days a week. To learn more about these services, just call Member Connection at: 561-965-1000.

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

1. Checks and other transactions made using your checking account number
2. Automatic bill payments

What fees will I be charged if Gold Coast FCU overdrafts my account due one of these transactions?

1. The standard overdraft fee of $38.
2. If your account is overdrawn for 3 or more consecutive days, we will charge an additional $8 per day if your account
   is overdrawn $10 or more.
3. There is no limit on the total fees we can charge you for overdrawing your account.
4. If your account is overdrawn for 3 or more consecutive days, we will charge an additional $8 per day if your account is
   overdrawn $10 or more.

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

1. ATM transactions
2. Everyday debit card transactions

What if I want Gold Coast FCU to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call Member Connection at: 561-965-1000, or visit any credit union office. You can always change your mind and tell us you no longer want to do this. You can revoke your authorization by calling Member Connection at (561)965-1000, or stop by any office.

What fees will I be charged if Gold Coast FCU pays my ATM and every day debit card overdrafts?
Under our standard overdraft practices:

1. We will charge you a fee of up to $8 each time we pay an overdraft.
2. If your account is overdrawn for 3 or more consecutive days, we will charge an additional $8 per day if your account is
   overdrawn $10 or more.
3. There is no limit on the total fees we can charge you for overdrawing your account.

What is my EASY PAY limit?
Your EASY PAY limit is $300.00 inclusive of any per item uncollected or overdraft fee. 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.

How quickly must I repay my EASY PAY overdraft balance?
You should make every attempt to bring your account to a positive balance as quickly as possible. If you are not able to do so, you will receive a letter from Gold Coast Federal Credit Union informing you of the situation and your options. If, after a period of time, your account has not been brought to a positive balance, we will have no option but to close your account and take other steps to recover the funds.