Posted by William Charles on March 2, 2019
Bank Account Bonuses

Published on March 2nd, 2019 | by William Charles

21

[LA, MS, FL, AL, TX] Hancock Whitney $100 Savings Bonus

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: LA, MS, FL, AL, & TX only
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Early account termination fee: $20, 180 days
  • Household limit: One (this is enforced)
  • Household limit: None
  • Expiration date: March 31st, 2019 June 30th, 2019

The Offer

Direct link to offer

  • Open a new Silver Savings account with Hancock Whitney Bank and receive a bonus of up to $100.
    • Open a Silver Savings account with a total deposit of $500 or more in new money by 3/31/19
    • Ensure you have an average daily balance of at least $500 on 6/30/19, to receive either a $25, $50 or $100 Visa® Gift Card.
  • Bonus depends on your deposit:
    • $25 gift card with a $500 minimum balance
    • $50 gift card with a $1,000 minimum balance
    •  $100 gift card with a $2,000 minimum balance

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Savings account has a $3 monthly fee that is waived with an average daily balance of $200.

Early Account Termination Fee $20

This account has an early account termination fee of $20 if the account is closed within 180 days of account opening.

Our Verdict

This is much better than the $100 savings bonus usually available when you open a checking account and even better than the last dedicated savings bonus they offered as well. If you live near a branch I think this is worth doing and will add it to our list of the best savings account bonuses.

Useful posts regarding bank bonuses:



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Lothar
Lothar

None within 50 miles of Dallas or Fort Worth.

Christian Buechel
Christian Buechel

Do you need to go in branch to sign up? Or is that mainly to close?

J L
J L

email says you need to bring the email code to a branch.

Duke I.
Duke I.

Good deal! Guess I can let them hold $2000 for 6 months. They’ve been good with the checking bonuses.

Joe
Joe

So I need to deposit $501 today, and then another $1500 just before 6/30 for the $100, correct?

Duke
Duke

No, you need a daily average of $2000 for the $100.

Joe
Joe

Are you sure about that? The terms seem to conflict each other? William Charles any thoughts?

Betelgeuse
Betelgeuse

The link shows the bonus is based on average daily balance. The post says just need the balance on 6/30 which is not correct.

mark atwood
mark atwood

they don’t issue any 1099 either…another bonus

Matt B
Matt B

You’re still supposed to report the income

Alys Holden
Alys Holden

Any and all income must legally be reported to the IRS. Just because you don’t get a 1099 don’t get you off the hook.

Ann
Ann

Another important note from the previous thread, don’t try to open this from out-of-state with a ‘borrowed’ address. https://www.doctorofcredit.com/la-ms-fl-al-tx-hancock-whitney-bank-300-checking-bonus-100-savings-bonus-no-direct-deposit-required-2/#comment-373914

Julian Banks

Small play here, but might be worth mentioning that you’re better off disputing as close to 3/31 as possible. Of course they could pull the promo, but just a thought.

Duke I.
Duke I.

this is in branch only.

Orin
Orin

I tried to open over the phone, as I was able to get them to do that last year with a checking account. CSR said recently they had a change and do not open accounts over the phone. I did not even mention the promo or bonus. Just said I want to open a savings account.

GreedyGecko

Was told that since I closed a checking account within the last year, I would not receive the bonus. Don’t see this exclusion in the terms but clerk was adamant.

On another note, she told me to come back after the year had elapsed because they are always running new account offers – so she wasn’t offended by the bonus chasing.

True or bad information?

Snowbird
Snowbird

Here are the T&C for this one. As long as you have an average bonus of $500+, then the bonus amount is based on the actual balance as of 6/30 (not the average bonus). So you can put $500 in now and add $1500 in late June. After 6/30, reduce the balance to $200 to keep the account open, collect the bonus, and waive the fees.

1 To be eligible for the promotion: A Silver Savings account, with new money not currently held by Hancock Whitney, must be opened with an opening deposit of $500 or more by 3/31/19. The promo code is required at account opening. The email given at account opening must match the email address submitted to get the offer promo code. Then maintain an average monthly balance of at least $500 or more through 6/30/19.

If average monthly balance requirement is met, the earned savings bonus will be based on the balance of the Silver Savings account as of 6/30/19. One savings bonus per balance tier based on highest balance amount.

Balance on 6/30/19 Savings Bonus
$0 – $499.99 $0
$500.00 – $999.99 $25
$1,000.00 – $1,999.99 $50
$2,000 + $100

Jonathan
Jonathan

Does anyone know if they close checking accounts automatically if you ACH all funds out? I have an old checking account that I am zeroing out. Spouse would like to avoid branch visit…

Joe
Joe

(Wrong Hancock Whitney thread, never mind)

akjohnny
akjohnny

i hope they extend this one… $100 may be worth the trouble

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