Update 2/13/21: Deal is back and valid until March 31, 2021. Hat tip to reader SamL
Offer at a glance
- Maximum bonus amount: $300
- Availability: LA, MS, FL, AL, & TX only. In branch only [Branch locator]
- Direct deposit required: Yes, $250+
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: No
- Credit card funding: None
- Monthly fees: $21
- Early account termination fee: $20, 180 days (bonus forfeit)
- Household limit: One (this is enforced)
- Expiration date: March 31st, 2020
- Hancock Whitney Bank is offering a bonus of $300 when you open a Priority Checking account and complete the following requirements:
- Receive a qualifying monthly direct deposit of at least $250 by 12/31/2020
The Fine Print
- Checking Promotion Requirements: Bring the promo code referenced above to your nearest financial center or apply online and open a new Priority Checking account with money not currently on deposit at Hancock Whitney Bank by the offer expiration date of 3/31/2020.
- The promo code is required at account opening.
- The following criteria must be met by 5/31/2020: set up and receive a qualifying monthly direct deposit of at least $250 per deposit.
- A qualifying direct deposit includes a salary, pension, social security or other recurring, monthly income amount of $250 or more, electronically deposited by your employer or outside agency.
- Transfers from one account to another or deposits made at a financial center or ATM do not qualify.
- Limit of one new consumer checking related bonus per household per calendar year.
- The Bank may change or discontinue the offer at any time and without notice.
- This offer is non-transferable and cannot be combined with other offers.
- The email given at account opening must match the email address submitted to get the offer promo code.
- If your account meets the criteria, and remains open and active, we will deposit the earned bonus into your new Priority Checking account within 6 weeks after the qualification period of 5/31/2020.
- Bonuses may be considered interest and may be reported on IRS Form 1099.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Priority Checking account has a $21 monthly fee, this is waived if you do one of the following:
- a minimum daily collected balance of $10,000 or more;
- $25,000 in combined deposits (excluding CDs and IRAs) or consumer loans (excluding mortgages) or credit card balances;
- $250,000 or more in a Trust account or account (excluding annuities) with Hancock Whitney Investment Services.
Early Account Termination Fee
$20 fee is charged for each account if the account is closed within 180 days. Looks like you might also forfeit the bonus.
There was a previous $500 deal. That required the same account, normally the $300 bonuses only require the silver checking account that is easier to keep fee free. Because of that I wouldn’t recommend doing this bonus, either wait for the bigger bonus to return or wait for a $300 bonus that is easier to keep fee free.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
- Deal has been extended until December 31, 2020. But there is now a $300 bonus.
- Update 7/18/20: Terms say this ended on 6/30, but if you e-mail yourself a promo code it says valid thru 9/31/20. I’m guessing they just forgot to update the fine print. Hat tip to reader BlaseBB
- Update 3/31/20: Extended until 6/30/20