Posted by William Charles on July 5, 2019
Checking Accounts

Published on July 5th, 2019 | by William Charles

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[Expired] [LA, MS, FL, AL, TX] Hancock Whitney Bank $500 Checking Bonus

Deal has expired, view more bank account bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $500
  • 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-$25, avoidable
  • Early account termination fee: $20, 180 days
  • Household limit: One (this is enforced)
  • Expiration date: October 31st, 2019

The Offer

Direct link to offer

  • Hancock Whitney Bank is offering a bonus of $500 when you open a Priority Checking account and complete the following requirements:
    • Receive a qualifying monthly direct deposit of at least $250 by 12/31/19

The Fine Print

  • Bring the promo code referenced above to your nearest financial center and open a new Priority Checking account with money not currently on deposit at Hancock Whitney Bank by the offer expiration date of 6/30/19.
  • The promo code is required at account opening.
  • The following criteria must be met by 8/31/19: set up and receive a single, qualifying monthly direct deposit of at least $250. 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 8/31/19.
  • Bonuses may be considered interest and may be reported on IRS Form 1099.

Avoiding Fees

Monthly Fees

Priority Checking $21 Monthly Fee

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.

Priority Money Market $25 Monthly Fee

This account has a $25 monthly fee, this is waived with a minimum daily collected balance of $25,000

Early Account Termination Fee

$20 fee is charged for each account if the account is closed within 180 days.

Our Verdict

It doesn’t look like you need to actually open the Priority Money Market account, but if you do then you’ll get 2% APY. I think the best option would be to open both the checking & money market accounts, put $25,000 into the money market to avoid the monthly fees on both accounts and earn 2% APY. Then you could set up the direct deposit and after the bonus posts close both accounts (and pay the fees) and move your funds back over to a high yield savings account. It might be worth keeping the accounts open for the full six months to avoid the early account termination fees depending on how long the bonus takes to post.

Hancock Whitney often offers a $300 checking bonus, personally I think you are best off just waiting for that offer to return. It’s easy to keep fee free and can be opened online instead of in branch. Because of that I won’t be adding this bonus to our best checking bonus page.

Hat tip to  carl_global

Useful posts regarding bank bonuses:



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Victory58
Victory58

The term states that set up and receive a single, qualifying monthly direct deposit of at least $250. Does it mean just $250+ is enough? Or 250+ for each month since I open the account?

wakku_wakku
wakku_wakku

Anyone know if this offer stack with the $100 Silver Saving Offer or it is one or the other?

Natalia from New Orleans
Natalia from New Orleans

I do not think they interfere one with another at all

SamL
SamL

“To maintain Priority pricing, your Priority Checking account must maintain a minimum of 5 client-initiated debit or credit transactions per statement cycle. Otherwise, your Priority Money Market account will earn the default APY for the statement cycle.” Also “If your account is closed within 180 days after opening, we reserve the right to deduct the bonus amount from your account’s closing balance.”

One option is to take the $500 (minus tax) minus 6 $21 fees before closing.

There’s also the question of can you downgrade to less burdensome accounts.

Yeah, the $300 one is better if it comes back.

Ausclaire
Ausclaire

Possible that they waive the first couple of monthly fees?

Natalia from New Orleans
Natalia from New Orleans

open checking with 10k at the end of the June
have 250 DD in July, and may be august too ?

Close after bonus posted, pay 20.00 to close early
Easy 480.00 = 500-20 ? am I missing something

SamL
SamL

“If your account is closed within 180 days after opening, we reserve the right to deduct the bonus amount from your account’s closing balance.”

SA
SA

William Charles
Just talked with a banker and as per her you need to open both the Priority Checking and Money Market. She says she confirmed that with the marketing department.

Matt
Matt

I spoke with a Banker and she conformed just the opposite. Checking only for $500 Bonus

akjohnny
akjohnny

I opened up all 3 accounts today…. Priority checking, Money Market and Savings acct to stack the bonuses… this deal with the 6 months of 2% interest works out to $850 bonus…. not bad for just needing 1 direct deposit and within 6 weeks getting a $500 bonus… I already dropped off the direct deposit form to my employer and I should get the dd done by July 1 paycheck… so hopefully, the bonus will drop by the end of July… then I’ll do $475 Bank of America checking bonus…

Betelgeuse
Betelgeuse

akjohnny What’s the 475$ boa checking bonus? I thought it’s 300$?

akjohnny
akjohnny

$300 checking bonus plus $175 for opening up account while mystery shopping… Mystery shopping companies pay really well for shopping banks… Ez $500 annually just for shopping Bank of America opening and closing accounts… I’m getting $40 just to close savings account next week… I got paid $175 to open savings account.

Requal
Requal

How you do mystery shopper

SamL
SamL

You have to consider what you could get on $25k elsewhere, e.g. in one of those 4% accounts for 6 months.

AKJohnny
AKJohnny

so I checked my statement online and I’m getting 2.13% interest on the checking account instead of 2% as advertised…

AKJohnny
AKJohnny

THIS BANK HAS LOWEST TRANSFER LIMITS EVER!!! $800 per day push or pull daily limit. initiated by HW side…. you need to go in branch to request an increase. no thanks! I’m going to collect my bonus and close my account at this mess of a bank down.

JuicyJosh
JuicyJosh

AKJohnny Get a hub account. Stop using the bonus banks and all their crappy rules/fees.

AKJohnny
AKJohnny

I use both Cap 1 and Chase as hub accounts

JuicyJosh
JuicyJosh

Opened this promo in branch at 4:45p today – 15 min before close. I believe it expires 6/30 but they wont reopen again til 7/1. Surprisingly it only took 13 min to open lol. Banker asked if I wanted to open checking and money market or just checking. I said I wasnt sure based on the offer terms and rep stated they were talking about that earlier this week. Confirmed only checking needed for $500 offer. Id prefer to only have 10k on deposit vs 25k so checking only we did. I guess we will know for sure in a few months. This is my 3rd churn with HWB and feel good about the pending outcome.

Austin
Austin

i just found out about this on friday night im so upset

Ann
Ann

You now have all the way till October 31 to try.

Betelgeuse
Betelgeuse

JuicyJosh The checking offer doesn’t mention anything about previous account holders. How do you know the churning eligibility criteria?
Did you ask if they waive the fees for a month or 2?

JuicyJosh
JuicyJosh

I have churned them annually. Here is what i pulled out of the terms in the offer I sent myself in June. ” Limit of one new consumer checking related bonus per household per calendar year.” As for fees, I funded with $10k which will waive it. In prior chrurns I think they only required $300. I would imagine at least a first month waiver but ya never know. Betelgeuse

Betelgeuse
Betelgeuse

JuicyJosh thanks for the quick reply!

Jonathan
Jonathan

How do you close the account? Is in branch the only way? Thanks for any info!

JuicyJosh

JuicyJosh
JuicyJosh

Phone works. Just make sure you’re at a zero balance and it’s been over 6 months.

Jonathan
Jonathan

I never got around to call…. in preparation, I zeroed out the account balance. Nice surprise: they closed the account on their own. I found this out by receiving a survey (email) as someone who recently closed an account.

Hope this helps someone.

SamL
SamL

How long was it between zeroing out the account balance, and it getting closed?

Bonbank
Bonbank

The promo has been extended until 10/31/19.

SamL
SamL

Note “If your account is closed within 180 days after opening, we reserve the right to deduct the bonus amount from your account’s closing balance.”
Also “To maintain Priority pricing on your money market account, your Priority Checking account must maintain a minimum of 5 client-initiated debit or credit transactions per statement cycle.”

AKJohnny
AKJohnny

oh sheet… i didnt see this… at least it’s just 5 more amazon reloads per month

Shalom
Shalom

I can’t see any code here, also not when clicking the direct offer link. It says the code must be provided, but can’t find a code … 🙂

AKJohnny
AKJohnny

they will email you a code

pesets
pesets

In the past these a-holes sent me Visa gift card for bonus, and reported to IRS

IS250
IS250

Any DP’s on out of state applications in branch?

Looney Tunes
Looney Tunes
IS250
IS250

Yeah I saw that too. Was trying to see for more recent DP’s. I’ll be in FL next month so I’ll give it a try regardless.

IS250
IS250

Anyone know if there is a grace period to waive monthly fees?

SamL
SamL

Are you thinking about doing the bare minimum to get $500 minus 6 months (or less – hence your question) of $21/mo fees. I’ve thought about that, but I fear them just taking your monthly fees and then finding a reason to not give bonus.

IS250
IS250

Something like that but not all 6 months. I have funds tied up until November so I’d be able to deposit 10K to waive fees after that.

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