Loading
Tap on the profile icon to edit
your financial details.

Gulf Coast Bank Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Gulf Coast Bank Savings
0.01% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Gulf Coast Bank was founded in 1971 with its headquarters in Abbeville, Louisiana. Gulf Coast Bank handles $380 million in assets as well as deposits totaling $332 million, classifying it as a small bank. Gulf Coast Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 4.2 out of 5 stars, Gulf Coast Bank should be solidly in contention for your choice of bank. Gulf Coast Bank provides customers with a full array of product offerings, including savings accounts, checking accounts, money market accounts, CDs and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account features a $2.50 monthly fee, which is acceptable in comparison to the average U.S. bank. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best option for returning the most income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.7
SmartAsset Average: 3.5

With a savings rate of 0.01%, Gulf Coast Bank ranks poorly compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 1.56% and 2.52%, respectively, while its highest-yielding money market account has a rate of 0.25%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Gulf Coast Bank's Savings Rates Compare

Gulf Coast Bank Savings 0.01 National Average 0.26 Compare Offers
Back to Overview

Fees

4.3
SmartAsset Average: 4.4

Gulf Coast Bank has typically low fees compared to other U.S. banks. At $2.50/month, Gulf Coast Bank is less than ideal for people who want a basic checking account. Also, Gulf Coast Bank has an overdraft fee of $30.00, which is considerably less than the average U.S. overdraft fee. Gulf Coast Bank unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll have to find a Gulf Coast Bank ATM or eat the ATM charge.

Monthly Fee $2.50 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
Back to Overview

Service Quality

4.1
SmartAsset Average: 3.7

Gulf Coast Bank is a brick-and-mortar bank, with 13 total branches in Louisiana. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Gulf Coast Bank's online and mobile banking services receive relatively high scores from customers. Out of 51 customer reviews across both iOS and Android platforms, the Gulf Coast Bank mobile app is scored at 4.2 out of 5 (compared to the national average of 3.8). You can utilize Gulf Coast Bank's mobile app to control your bank accounts by monitoring account balances, sending and receiving money as well as reaching support representatives. Gulf Coast Bank gets a superb consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.5
SmartAsset Average: 4.8

Gulf Coast Bank is currently a small bank owning assets totaling $380 million as well as deposits totaling $332 million. Gulf Coast Bank's Texas Ratio is 11.38%, signifying that Gulf Coast Bank is in fine financial condition and far from failure. Additionally, Gulf Coast Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

11.38%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Back to Overview

Compare Gulf Coast Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.01% APY $100
Checking Account 0.1% APY $1500
Certificates of Deposit
  • 12 Month: 1.56% APY
  • 24 Month: 2.02% APY
  • 36 Month: 2.07% APY
  • 60 Month: 2.52% APY
$1000 for all terms
Money Market Accounts 0.25% APY 0.25% APY $10000 $15000

Gulf Coast Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Gulf Coast Bank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Gulf Coast Bank's CD rates are fair in comparison to the average U.S. bank.

Back to Overview

Find a Gulf Coast Bank Near Me

Gulf Coast Bank has 13 locations across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure