[Expired] [AL, AR, FL, LA, MO, MS, TN, TX] BancorpSouth $150 Checking Bonus

This offer has unfortunately expired, view more offers here.

Offer at a glance

• Maximum bonus amount: $150
• Availability: Must live in one of the following states: AL, AR, FL, LA, MO, MS, TN, TX. You also need to live close to a branch, probably within 50 miles. Reader Dan was denied for living 120 miles from a branch. Apparently you need to live within one hour of branch.
• Direct deposit required: Yes, $150+
• Additional requirements: Use promo code Q4CHK
• Hard/soft pull: Soft 
• ChexSystems: Unknown
• Credit card funding: None 
• Monthly fees: $5+, avoidable
• Early account termination fee: $25, 90 days
• Expiration date: December 31st, 2016

The Offer

Direct link to offer

• Open a new BancorpSouth checking account and receive a bonus of $150 when you complete this requirement:
  • Use the promotional code Q4CHK or get a printable version of the offer
  • Set up a direct deposit of $150 or more within 60 days of account opening

The Fine Print

• My Way, Second Chance, Student, Performance, Interest Plus, or Heritage are all eligible accounts
• Student checking is available for students through the age of 24
• A Direct Deposit is considered a Government or payroll ACH deposit of $100 or more. (I assume they mean $150 or more)
• Your $150 incentive will be deposited into your new checking account within 30 days of meeting the recurring direct deposit requirement.
• Only one $150 incentive offer per household.
• Account must remain open, active, in good standing and in the same product type through the qualifying period to receive the incentive. In addition, the account must have a positive balance at the time of the incentive payment.
• Offer available only to recipients of this offer who do not already have a personal checking account with BancorpSouth.
• BancorpSouth employees and immediate family members are not eligible.
• Non-US residents and individuals under 18 are not eligible.
• In the event that we determine in our sole discretion that your account does not meet eligibility criteria or the activity on your account does not qualify as a Qualifying Direct Deposit, we will not be obligated to credit your account with the incentive.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Easiest account to keep fee free seems to be the My Way Checking account, this has a $5 monthly fee that is waived if you do any of the following:

• $100 minimum daily balance or
• 5 debit card purchase transactions or
• Direct Deposit of $100+

According to the fee schedule there is also an early account termination fee of $25 if the account is closed within 90 days of opening.

Our Verdict

It says that the offer is only available to the receipient, but it doesn’t actually look targeted – still something to keep in mind. This is a pretty good offer now that the online application is working, because of that I’m going to add it to our list of the best bank account bonuses due to no credit card funding, it being possibly targeted and also having to go in branch. We might change that if we get some more positive datapoints.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• 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