Posted by William Charles on April 12, 2017
Bank Account Bonuses

Published on April 12th, 2017 | by William Charles

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[LA, MS, FL, AL, TX] Hancock Whitney $400 Visa Gift Card Business Checking Bonus

Deal is back, there is also another $400 deal on the personal checking & savings accounts. Thanks to reader The Bearded Traveler.

Offer at a glance

  • Maximum bonus amount: $400 Visa gift card
  • Availability: LA, MS, FL, AL, & TX only. Must be opened in branch [Branch locator]
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: $0-$25
  • Early account termination fee: $20, 180 days
  • Household limit: None, one per business
  • Expiration date: March 31st, 2017 June 30th, 2017

The Offer

Direct link to offer

  • Hancock Whitney are offering a business checking bonus of $400 (in the form of a Visa gift card) when you complete the following requirements:
    • Get promo code by entering e-mail address into the form
    • Bring promo code into a Hancock Whitney branch by June 30th, 2017 (e-mails must match)
    • Enroll in Business Online Banking with online statements and make four check deposits through a branch or mobile check deposit by July 31st, 2017

 

 

The Fine Print

  • The Visa gift card will be sent to the address associated with your new account within 4-6 weeks after the qualifying expiration date of July 31st, 2017 if offer criteria is met.
  • Limit one gift card per business.
  • The offer is nontransferrable. (in the past this wording has still meant the offer was open to everybody that requested a promo code, YMMV)
  • This cannot be combined with other offers.
  • Limit one business checking gift card offer redemption per business and per calendar year.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The easiest account to keep fee free is the essential business checking account as this has no monthly fee to worry about. There is an early account termination fee of $20 if closed within 180 days.

Our Verdict

We just posted about a $200 business checking bonus, obviously this is signficantly better. Same requirements but an extra $200. The downside to both bonuses is that you have to open in branch. Upside is the bonus requirements are ridiculously easy to meet and also there is no monthly fee to worry about. We’ve added this to our list of the best business checking bonuses. They have also offer personal checking bonuses (best is $300, currently it’s only $150), fingers crossed we see that personal bonus increase.

Big thanks to reader, Chris who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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cm

Looks great, but not clear what sort of documentation is required. Would SSN alone be sufficient?

Presumably, being in-branch, they’ll grill you a bit about opening a business account, or not?

Whitney Banker
Whitney Banker

SSN is required for the account but not enough to open a business account.

for Non-sole Props – need articles and the EIN
for Sole Props (in LA) – occupational License/Assumed Name Cert OR Trade Name Affidavit filed with Parish

Check with banker in other states what else is needed (I’m in NOLA)

Jonathan
Jonathan

Can you confirm what is needed for a sole prop in LA? You said trade name affidavit filed with the parish. Is that different than the trade name registration with the LA Secretary of State? I believe assumed name cert is what one might do with the parish clerk of court. Trying to make sure I bring the right paperwork. Thanks!

Paul
Paul

Do they accept mo deposit through app?

George P
George P

No

Michael
Michael

Last time for the $300 personal checking is said “in-branch” but many of us got the bonus applying online. I will give it a go.

hardy
hardy

on Sept 2016 I opened personal checking a/c with them & they didn’t send me $300 visa gift card, on my follow up with them, the customer service told me that person who opened your a/c forgot to add the bonus code & the banker told me that you were not targeted (bonus offer should come in mail) that’s why you didn’t received the bonus. Finally after lots of communication with them, they send me $300 visa gift card in Feb 2017.
I will double check it with the banker before i proceed on this one……

Whitney Banker
Whitney Banker

Not necessary now – we’ve updated our system to require us to add the promo code. You should be fine now as many bankers were forgetting to put the Promo. Now the system requires us to click a button that says no promo code.

hardy
hardy

I have a ligitimate business. I went to branch in houston today along with the code. the banker said to me that this time it is not valid in texas. She showed me a bank printout that says that texas residents should get offer in the mail to the mailing add…..& valid to that add. only. She also stated that before 31st march it was not the condition but in the new bonus offer that is the condition……..
can any one give me idea on this??????????

Jeremiah
Jeremiah

Coworker just tried to open one in branch over our lunch break. Located in TX, which does not require sole props to register with the state and only requires a DBA certificate if you’re operating with a name that doesn’t include your name (eg for someone named John Smith, Smith Consulting would not require one while Cutting Edge Consulting would).

He has a business he’s been running for a few years, files a Schedule C every year, has business credit cards, and doesn’t have a DBA. The banker he talked to was apparently very condescending and told him that he needed a DBA to open the account. Furthermore she told him that he needs a DBA to file his taxes, which is completely false. He decided it wasn’t worth the trouble and left. Not sure if this is a bank policy, a branch policy, or a condescending banker policy, but there’s a DP.

cm

I agree; Texas is one of the states that explicitly doesn’t require a DBA cert if you’re using a last name; I think the PDF from Chase has a good summary on legal requirements for a valid business in various states.

I’m a 3-hour drive from Houston, would be great if they’d get the info right.

Undercover Applicant
Undercover Applicant

Went to branch and suffered through opening process with under informed banker. Opening in FL. First tried to tell me had to register with Sunbiz when operating as sole proprietor. No. Then tried to tell me need occupation license. No. Then associate called helpline to get info on their opening process. After completing application rep again said need fictitious name record from state. Which is 100% not required using your legal name. Told rep to withdraw app.

This bank is a joke. Don’t waste your time.

Ian Michael Scott
Ian Michael Scott

thanks for the DP

Leo
Leo

Opened today in Houston with EIN and DBA. easy

dan
dan

a MO deposit in person does count like a check deposit, correct?

dan
dan

opened an acct in branch last month & took 2 calls & two weeks for the bank to set up / input data for me to have access to the online acct;; then noted a charge of $3 in the acct for paper stmt which wasn’t mentioned or offered in branch as well as online access wasn’t available sooner to make any change til today; asked the fee to be waived b/c of those reasons; was first told that the fee can’t be waived since the acct is new after a hold for 10 min; had to get escalated to a supervisor for a waiver after a hold for another 5 min…

hope that it won’t take as much time & effort to get the bonus after completing the requirements

TheBigEasyTraveler
TheBigEasyTraveler

Went by branch today (Marrero, LA). Was told need Articles of Incorporation and EIN. We run LLC’so. Will be back with DR. Applying Saturday

TheBigEasyTraveler
TheBigEasyTraveler

Went by branch today (Marrero, LA). Was told need Articles of Incorporation and EIN. We run LLC’s. Will be back with DP’s. Applying Saturday

SHARON BELL
SHARON BELL

Now you can open account online. There is a spot to enter your promo code, system will verify the code matches what was sent. Select the checking account option #1 and maintain $5,000 until you receive the $400 card. Close account and gladly pay the early closing fee of $20.

Click around on the site until you reach accounts open online, go to checking accounts. I think my links might have personal information or I would copy and paste.

dan
dan

its t&c stated: open in branch…so GL about the bonus for opening online

Jay
Jay

The same T&C language was present on the personal version of this bonus offer, but online applicants received the bonus anyway.

So while there is indeed some risk, I’d say it’s probably worth it for most people who don’t have branches nearby (or don’t want to be grilled by condescending bankers claiming that you’ll need DBA papers/EIN etc.).

Jay
Jay

Thanks for the info. However, I’ve been ‘clicking around on the site’ for ages now, and have still yet to find anything that will allow me to start an application for a business checking account. It would be great if you could provide us with more concrete details about the steps you took to access your link.

In addition, why would you want to maintain the $5,000 balance that you referred to? There are no minimum balance requirements to fulfill for this bonus, nor does the Essential Checking business account require any minimum balance to avoid fees. Unless you were referring to the Preferred Checking business account (which does require $5,000 to avoid fees), and the online application is somehow able to open a Preferred Checking, but not an Essential Checking…

Maggie
Maggie

DP: Was able to open this today using only my social security number. They also had a $200 bonus for me to open a business credit card – no annual fee or minimum spend. They said the gift cards should arrive sometime in early May.

Maggie
Maggie

I should add, I am in Alabama.

Mike
Mike

Did you open online or in branch?

Sharon
Sharon

Scheduled to receive the bonus and as far as the $5 K I do not want any fees. To receive the $400 but have fees is a mood point. If the account maintains the $5k min the $400 is mine. will be taxed of course but this is a business account 🙂 With a $5K balance you get preferred checking status. The fee for early closure was pointed out but you need to look at the checking fees, if you are actually going to use the checking account you will get some checks for free to use while waiting on the bonus, so put more than $5K into the account so you don’t fall below the $5K. Enjoy better customer service etc while you are there.

Nick
Nick

I opened a personal account online, but I cannot find where to open a business account online on their website.

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