Extended to 6/30/2024
Update 2/18/24: Deal is back and valid until 3/31/2024
Update 11/1/23: Bonus extended to 31-Dec-2023.
Update 9/11/23: Extended until 10/31/2023.
Update 7/4/23: Extended until 8/31/2023.
Update 4/8/23: Extended until 6/30/2023. Hat tip to Woody
Update 11/20/21: Deal is back and valid until 12/31/21. Now Limit of one consumer checking-related bonus per household every 2 calendar years. Hat tip to reader BS
Offer at a glance
- Maximum bonus amount:
- Availability: LA, MS, FL, AL, & TX only. Can apply online now
In branch only [Branch locator] - Direct deposit required: Yes, $300+
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: No
- Credit card funding: None
- Monthly fees: $12, avoidable
- Early account termination fee: $20, 180 days (bonus forfeit)
- Household limit: Limit of one consumer checking-related bonus per household every 2 calendar years. (this is enforced),
- Expiration date:
December 31, 20206/30/2023
Contents
The Offer
- Hancock Whitney Bank is offering a bonus of $300 when you open a Connect Checking account and complete the following requirements:
- Receive a qualifying monthly direct deposit of at least $1,000 by 10/31/2024
The Fine Print
- Use the promo code referenced above when opening a new Connect Checking account with money not currently on deposit at Hancock Whitney Bank by the offer expiration date of 12/31/2020.
- The promo code is required at account opening. The following criteria must be met by 2/28/2021: 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 consumer checking-related bonus per household every 2 calendar years.
- 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 Connect Checking account within 6 weeks after the qualification period of 2/28/2021.
- 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
Avoiding Fees
Monthly Fees
This account has a $12 monthly fee. This is waived if you do any of the following:
- primary account holder under 18 or age 64 and over or
- make one or more client-initiated debit or credit transactions per statement cycle to waive the service charge.
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.
Our Verdict
Hancock also offers a $500 bonus, but that is more difficult to keep fee free. There was also a $300 bonus in the past that was easier to keep fee free, but I don’t think that account is still available and to be honest this connect checking account isn’t that difficult to keep fee free either. This is probably an easier option for most people and as such we will add this to our list of the best bank account bonuses.
Hat tip to reader Natanael
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
Opened account and now account is in disabled status. They require going into branch to prove ID etc.
Walk into a branch. Banker said no OOS.
Walk into a different branch.
Kam You got a bad banker.
Been to the Tampa Bay location twice in the last several years… walked out with an account both times. Bonus paid out as expected.
Updated, thanks
Has anyone had their bonus posts yet for the business checking bonus? At the last day to sign up was on December 29th and you had to transfer the money by February 29th. They only have a few days left to pay out I’m getting nervous. Might need to call
They check your IP address. I was denied due to an OOS IP address.
“opened” the account on 2/19, but they then locked the account until now 3/22/24 until I provided my license and address documents etc. So I missed out on the direct deposit for Feb. Anyone happen to know if I am likely screwed on this? I will still set up a real direct deposit so that I can continue it and can then call in when I dont get the bonus but any one have experience with that?
Wonder if doing just Fidelity CM for DDs would work.
Unknown. People who used Fidelity got the bonus, but they also hit the account with Schwab, Cap One, Ally, Chase, etc. The good news is fakes work. Do you feel lucky?
You can use the 🔍Comment search bar and find “Fidelity”.
Fidelity and Wells Fargo both showed up as Credit. “MONEYLINE FID BKG SVC LLC” and “WELLS FARGO IFI AC”. so I’m unsure if they will work?
Denied in TX. No reason given. Chex is LOL/24.
Am I reading this correctly for the $200 bonus the $300 monthly DD is required each month through July? Based on the requirements to have DD established by 5/31/24 and continue through 7/31/24, Does this mean DD is only required for May, June, and July? Or if I open the account is DD required for every month between now and July (including Feb)? If the latter, I’d wait until 3/1 to open.
You need to send the $300 monthly to qualify for the bonus through 7/31/2024, however you must make one or more client initiated debit or credit transaction per month to waive the $10 service charge, or any of the two other options listed below to stay fee free until the 180-day window closes and you can then close the account.
Monthly service charge of $10 can be waived by the following:
—primary account holder under 18 or age 64 and over, is an eligible Priority or
—Private Wealth Client, or
—primary account holder makes one or more client-initiated debit or credit transactions per month to waive the service charge.
NOTICE read this before you jump on the $300 bonus. There are actually two bonus offers depending on the checking account selected. One for $200 and the other for $300. Make sure you know what you are getting yourself into before you go for the $300 bonus. I was unable to find the Truth in Savings Disclosure or the Fee Schedule to see what other fees there may be. The fees listed below are in the bonus disclosure page. Both accounts must remain open for 180-days or face $20 early closing fee. https://www.hancockwhitney.com/an-acq-24?utm_campaign=2024%20Consumer%20Deposit%20Acquisition $300 BONUS The $300 bonus requires that you send $1000 minimum each month through 7/31/2024 to qualify for the bonus. But this account requires that you keep a $5000 minimum daily collected balance on deposit or you will incur a $20 monthly service fee. Remember that the $5000 must be on deposit for the full 180-days or you will incur the $20 monthly fee. Beware of this Gotcha if you only open the account with $25 you will not meet the $5000 daily collective balance requirement and you will incur the $20 fee the very first month and possibly the second month also. So to avoid this you must open this account with the full $5000 on the very first day. This bank is a snake in the grass with fee traps. The return on investment ROI gain is only $170. So doing the $300 bonus vs leaving your $5000 in a HYSA paying 5.25% APY will net you $170 extra. The .01% interest paid on the checking account will net you only .25 cents for the entire 180-days. Priority Checking Interest Rate/APY .01% for all balances $300 cash bonus when you open a Priority Checking account and set up $1,000 or more in monthly direct deposits. See details[1] 1.Important details and required qualifying activities for the checking bonus offer: Qualifying direct deposit for Priority Checking: Set up and receive qualifying direct deposits totaling at least $1000 each month through 7/31/2024. Additional Terms and Conditions: Priority Checking: Minimum opening deposit of $25 required. The monthly service charge of $20 can be waived if you maintain one or more of the following: —a minimum daily collected balance of $5,000 or more; or —$7,500 in combined deposits (excluding CDs and IRAs) or consumer loans (excluding mortgages) or credit card balances; or —$250,000 or more in a Trust account or account (excluding annuities) with Hancock Whitney Financial Consultants*. $200 BONUS The $200 bonus requires that you set up and receive qualifying direct deposits totaling at least $300 each month through 7/31/2024. If you don’t you will be hit with a $10 monthly service fee. This bonus actually requires that you keep sending the $300 deposit for the full 180-days or you will incur the $10 monthly service fee. Freestyle Checking $200 cash bonus when you open a Freestyle Checking account and set up $300 or more in monthly direct deposits. See details[1] 1.Important details and required qualifying activities for the… Read more »
Read the terms and glad I saw that $5000 6 month tie up requirement. Seems like the smart way to do this is do the $200 bonus, keep it fee free by initiating a debit charge monthly, and leaving the $5k in a HYSA. Or, just wait for a better bonus since these are only churnable every 2 calendar years.
In that regard, you come out with $200 (bonus) + ~$130 (interest) = ~$330 and you don’t have to risk getting hit with a $20 maintenance charge if you need to pull the $5k for any reason.