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Unexpected overdrafts can happen to anyone. Fortunately, we have options to make sure you’re covered from the inconvenience of declined transactions or overdraft fees, so you can keep on groovin’.
Overdrafts occur when there’s not enough money in your account to cover a transaction. The best way to avoid overdrafts – and the fees that come with them – is to understand what account options are available that ensure necessary funds are always available to cover purchases.
When it comes to preventing overdrafts, we’re with you every step of the way, helping you feel supported and empowered with the following options:
A checking reserve line of credit is an unsecured line of credit linked to a personal checking account at Gate City Bank. This option provides automatic overdraft protection by covering overdrafts to your account for a small fee, which may benefit you in the case of emergency expenses or unexpected transactions.
To get started, simply visit with one of our lenders and begin the application process.
Savings Link is an option that lets you link your Gate City Bank savings account to your checking account, allowing funds to be transferred as an added protection against overdrafts. For only $5.00 per automated transfer, we’ll automatically pull over the overage amount from the linked savings account on your behalf – saving you time, worries and inconvenience.
To set up Savings Link, give us call at 701-293-2400 or 800-423-3344, or stop by any of our convenient locations.
An easy checking account, crafted to help protect you from accidentally overspending on your account.Learn More
An overdraft fee occurs when you try to spend more money than you have available in your checking account. Rather than denying the transaction, the bank will allow the purchase by advancing the funds to cover the purchase, with a nominal charge to your account.
Overdraft fees can involve check, ACH or debit card transactions. Some banks will occasionally forgive an overdraft fee to help you cover other essential expenses from your account. However, it’s best to review your bank’s account agreements to understand the policy on handling overdrafts.
When it comes to protecting yourself from overdraft fees, you have two main options – connecting your Gate City Bank checking account with your savings account or adding a reserve line of credit to provide extra peace of mind:
Learn more about helpful hints and habits to avoid overdrafts or check out our BankOn checking account for even more ways to steer clear of overdraft fees.
The best way to prevent overdraft fees is to know your daily balance, manage your monthly budget and try not to spend more money than you have available, but mistakes do happen. Learn more about some habits you can adopt to avoid surprise overdraft fees.
To set up your savings link, give us call at 701-293-2400 or 800-423-3344, or stop by any of our convenient locations. We’ll be happy to assist you and answer any questions you may have!
Speak with one of our helpful lenders to learn more about a checking reserve line of credit. They’ll be happy to assist you with the application process!
Overdrafts occur when a transaction is paid even though you do not have an adequate balance to cover a transaction presented. At Gate City Bank, a fee is incurred for this type of transaction.
Non-sufficient funds (NSF) refers to when a transaction is declined or returned because you do not have an adequate balance to cover a transaction presented. At Gate City Bank, there is no fee for this type of transaction.
To locate a current list of the total amount you have paid year-to-date in overdraft fees, please reference your most recent checking account statement (last page).
To view your online statements or notices from your Gate City Bank online banking account:
You can also view statements and notices from our mobile app:
Note: Please log in to online banking from a web browser to view statements and notices from any closed accounts.
When it comes to maintaining a checking account, be sure to know your overdraft protection options and the fees you could face if you draw more money than is actually in your account.
Want to learn more about overdrafts and how to prevent them? You’re in the right place! Learn more.
It’s crucial to keep your accounts in good standing, but what exactly does that mean? Let us help walk you through the importance of making payments on time, not exceeding card limits, spending within your means and more!
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