Gulf Coast-based Hancock Whitney Bank is currently offering a $150 VISA® Gift Card when opening a new checking account, now through September 30, 2016.
$150 Gift Card Requirements
As stated on the promotion page, the following conditions must be fulfilled by October 31, 2016:
Hancock Whitney Bank currently offers three checking accounts (Access Checking, Connect Checking, and Priority Checking) and all qualify for the $150 gift card bonus.
The Access Checking account has a $10 monthly service fee which can be waived by maintaining a minimum daily balance of $250, or a direct deposit of at least $250, or if the account holder is under age 24 or age 64+. The monthly service fee for the Connect Checking and the Priority Checking ($12 and $21, respectively) is also waivable. Complete details are available on the Personal Checking Accounts page.
Thanks to DA reader, jclampett, for his Forum post about this deal.
Headquartered in Gulfport, Mississippi, Hancock Whitney Bank’s market area includes Alabama, Florida, Louisiana, Mississippi, and Texas.
The first step in applying for the $150 VISA® Gift Card requires visiting the promotion page and requesting an exclusive promo code (sent via email).
Opening the new checking account (with promo code in hand) requires an in-branch visit at any of 202 branches located in Alabama (11), Florida (35), Louisiana (109), Mississippi (39), and Texas (8). (Note: the Bank operates as Hancock Bank in Alabama, Florida, and Mississippi, and as Whitney Bank in Louisiana and Texas.)
Hancock Whitney Bank (FDIC Certificate # 12441) has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 10.28% (excellent) based on March 31, 2016 data. In the past year, Hancock Whitney Bank has increased its total deposits by $1.73 billion, an excellent annual growth rate of 10.16%. Please refer to our financial overview of Hancock Whitney Bank for more details.
In the late 1800s, two Southern banks – Hancock Bank in South Mississippi and Whitney Bank in New Orleans - were on parallel paths, thriving on the economic prosperity of their local communities. Both Banks continued their separate regional growth until December 2010, when an advantageous merger occurred. Today Hancock Whitney Bank is Mississippi’s largest bank, with assets in excess of $22.7 billion.
How the $150 Gift Card Compares
Opening an Access Checking account is probably offers the “best bang for your buck.” Assuming $250 minimum balance (avoiding $60 in monthly service fees) in an Access Checking for six months to avoid the $25 early termination fee (ETF):
- $250 in a savings account earning 1.00% for 6 months = $1.25 interest
- $250 in an Access Checking account for 6 months = $150 gift card bonus
- $250 in a savings account earning 1.00% for 2 months = $0.41 interest
- $250 in an Access Checking account for 2 months = $150 gift card bonus, minus $25 ETF
Given the number of variables attached to the Access Checking account, there are several ways this bonus could play out. Bottom line, they all make economic sense.
The above rates are accurate as of 8/30/2016.
Other Bank Promotions and Bonuses
Not eligible for Hancock Whitney Bank’s $150 gift card bonus? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.