Hancock Whitney Bank Review: Checking, Savings, CD, Money Market and IRA Accounts

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Hancock Whitney Bank’s history dates back to the 1800s, when Hancock Bank offered banking solutions to residents of Mississippi involved in the areas of agriculture, seafood, timber and tourism. Meanwhile, Whitney Bank served those in New Orleans’ cotton industry. Both of these banks saw significant growth over the next 100 years or so. In December 2010, they joined forces to become Hancock Whitney Bank.

Today, Hancock Whitney Bank has locations in Alabama, Florida, Louisiana, Mississippi, Tennessee and Texas. It offers checking, savings, CD, money market and IRA accounts. Rates vary by region, however, and you’ll need to contact a branch in your area to learn more. Read on to learn if one of these products could be the one for you, and how they stack up against the competition.

Hancock Whitney Bank’s checking account options

Access Checking

A simple checking account with minimal fees and requirements.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $10 (can be waived; details below)
  • ATM fee: None from Hancock Whitney Bank ATMs
  • ATM fee refund: None
  • Overdraft fee: $36; waived on items that are $5 or less

This account cannot earn interest. While it does have a monthly maintenance fee, it is easily waivable by meeting one of the following requirements:

  • Maintaining a $250 minimum daily balance
  • Receiving a direct deposit of $250 or more to your account
  • Being younger than 24 or 64 and older
  • Making a minimum opening deposit of $50

This account also offers online banking, mobile banking and check deposit, as well as free online statements.

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Connect Checking

This account takes things a step up with premium security benefits.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $12 (can be waived; details below)
  • ATM fee: None from Hancock Whitney Bank ATMs
  • ATM fee refund: None
  • Overdraft fee: $36; waived on items that are $5 or less

Like the Access Checking account, this checking account cannot earn interest. Additionally, its minimum balance requirement to waive the monthly maintenance fee is a bit steeper at $1,500. You can also waive the monthly fee if you have $5,000 in combined deposits, consumer loans or credit card balances.

But what makes this account stand out is that it comes with identity and credit monitoring, as well as identity fraud recovery services so that you’re notified and reimbursed quickly should any suspicious activity occur.

This account also comes with cellphone protection. If you set up auto-pay for your monthly cellphone bill with your Visa debit card, you’ll qualify for up to $250 in coverage if your phone is stolen or damaged.

This account also offers online banking, mobile banking and check deposit, as well as free online statements.

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on Hancock Whitney’s secure website

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Priority Checking

This is Hancock Whitney Bank’s only interest-earning checking account.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $21 (can be waived; details below)
  • ATM fee: None from Hancock Whitney Bank ATMs
  • ATM fee refund: Unlimited refunds at all domestic and international ATMs
  • Overdraft fee: $36; waived on items that are $5 or less

This account is Hancock Whitney Bank’s only interest-bearing checking option. The rates are not published on the bank’s website, so check with Hancock Whitney Bank for the latest rates.

It comes with the same security benefits as the Connect Checking account. But its minimum requirements to waive the monthly fee are pretty steep. You can do so by:

  • Maintaining a $10,000 minimum daily balance
  • Having $25,000 in combined deposits (excluding CDs and IRAs), outstanding consumer loans (excluding mortgages) or credit card balances
  • Maintaining $250,000 or more in a trust account or an account with Hancock or Whitney Investment Services Inc. (excluding annuities)

This account comes with free checks and offers a 25% discount on a safe deposit box. Another nice perk is that it refunds all ATM charges domestically and internationally.

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How to get Hancock Whitney Bank’s checking accounts

You can open Hancock Whitney Bank’s Access Checking and Connect Checking accounts online or at a branch. The Priority Checking account must be opened at a branch.To open any of these accounts, you’ll need personal information such your Social Security and driver’s license numbers. You’ll also need to be at least 18 and provide an existing bank account and routing number to fund your new account.

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How Hancock Whitney Bank’s checking accounts compare

While Hancock Whitney Bank’s more basic checking accounts — Access Checking and Connect Checking — come with monthly fees, they’re fairly easy to avoid. The Priority Checking account comes with a variety of extra perks, but the high minimum balance requirement to avoid the $21 monthly fee might not be enough to make that worth it if that’s not an easy task for you.

The Priority Checking account is the only one that earns interest, but you’ll have to contact a branch to determine how much. With that information, you can see if this or its other checking accounts stack up to those on our list of the best online checking accounts.

Hancock Whitney Bank’s savings account options

Silver Savings

A basic interest-earning savings account.
  • Minimum opening deposit: $100
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $3 (can be waived; details below)
  • ATM fee: None at Hancock Whitney Bank ATMs; outside banks may charge additional fees.
  • ATM fee refund: None
  • Overdraft fee: $36; waived on items that are $5 or less

This interest-earning savings account has a much lower monthly fee than any of Hancock Whitney Bank’s checking products — and it’s easier to avoid. You can waive the monthly fee if you maintain a minimum daily balance of $200 or you’re younger than 18 or 65 and older. Another option to eliminate this fee is to link the account to a Priority or Connect Checking account. Contact the bank for rate information.

As with all savings accounts, it’s subject to Federal Reserve Regulation D, which normally limits certain withdrawals up to six per month. This account is a little stricter, limiting free withdrawals to three per month. You’ll pay $3 for each extra withdrawal.

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on Hancock Whitney’s secure website

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Christmas Club Savings

A savings account to sock away cash for the holiday season.
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: 1 cent
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This allows account holders to easily set aside funds for holiday expenses. There is no minimum balance to earn interest on this account, though you’ll have to contact Hancock Whitney Bank to find out the rate. It also doesn’t provide ATM access, which makes it easier to avoid touching the funds you’ve set aside for a specific purpose. You can open this account anytime of the year and regularly transfer funds into it from your checking account.

In November, its funds will be deposited into your checking account. Keep in mind that a $10 closing fee will be charged if you close the account before it matures.

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How to get Hancock Whitney Bank’s savings accounts

Both of Hancock Whitney Bank’s savings accounts must be opened at a branch. You’ll need to be at least 18 years old and provide personal information such as your Social Security and driver’s license numbers, as well as an existing bank account and routing number to fund your new account.

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How Hancock Whitney Bank’s savings accounts compare

Both of these accounts have minimal fees and monthly balance requirements. Although they both can earn interest, you’ll have to contact a branch to determine how much. Once you have that information, you can compare the rates to those on our list of the best online savings accounts.

Hancock Whitney Bank’s CD rates

Certificates of Deposit

Standard CDs offered in terms from seven days to seven years, with a minimum deposit requirement of $1,000.
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: For seven-day and 30-day terms, it’s all interest; for 90 days, it’s 30 days’ interest; for 365 days, it’s 90 days’ interest; for seven years, it’s 180 days’ interest. The interest penalty applies to the amount withdrawn.

Hancock Whitney Bank offers CDs in the following term lengths: Seven days, 30 days, 90 days, 365 days and seven years. Rates vary by location. Contact a branch to determine rates for your area.

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on Hancock Whitney’s secure website

Member FDIC

How to get Hancock Whitney Bank’s CDs

Hancock Whitney Bank’s CDs must be opened at a branch. To do so, you’ll need to provide personal information such as your Social Security and driver’s license numbers. You’ll also need to be at least 18 and provide an existing bank account and routing number to fund your CD.

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How Hancock Whitney Bank’s CD rates compare

Hancock Whitney’s CDs term lengths, deposit requirements and early withdrawal penalties are pretty standard as far as CDs go. But to truly compare them to the competition (such as those on our list of the best CD rates), you’ll need to find out the rates for your location. Contact a branch to do so.

Hancock Whitney Bank’s money market account options

Money Market

Your basic, run-of-the-mill money market account.
  • Minimum opening deposit: $2,500
  • Minimum balance to earn APY: $2,500
  • Monthly account maintenance fee: $10 (waived with minimum daily balance of $2,500)
  • ATM fee: None on Hancock Whitney Bank ATMs
  • ATM fee refund: None
  • Overdraft fee: $36; waived on items that are $5 or less

This account can earn interest, though the amount will vary by location. Contact bank for current interest rates.

It’s also subject to Federal Reserve Regulation D, which limits certain transfers and withdrawals up to six per month. Exceed this amount and you’ll pay a $15 fee per instance.

The monthly maintenance fee can be waived if you don’t let your balance fall below $2,500 (which is also the minimum needed to earn the APY offered in your area). You also will be charged $10 per month if your account drops below $2,500, which means you also won’t earn interest.

This account also comes with free online banking services.

LEARN MORE Secured

on Hancock Whitney’s secure website

Member FDIC

Priority Money Market

Another money market account with a very high requirement to earn the rate.
  • Minimum opening deposit: $100
  • Minimum balance to earn APY: $25,000
  • Monthly account maintenance fee: $25 (waived if you maintain a balance of $25,000)
  • ATM fee: None on Hancock Whitney Bank ATMs
  • ATM fee refund: None
  • Overdraft fee: $36; waived on items that are $5 or less

This account must be funded with new money that is not on deposit in another Hancock Whitney Bank account. But it has a very low opening deposit requirement for a money market account.

At the same time, it has an unusually high $25,000 requirement to earn the APY (which you’ll have to contact your local branch to obtain) and to waive the monthly fee of $25. As a bonus, you can earn higher rates if you have both the Priority Money Market and Priority Checking accounts.

As with Hancock Whitney Bank’s other accounts, it offers free mobile and online banking services. As a savings account, it’s subject to Federal Reserve Regulation D, which limits certain withdrawals and transactions up to six per month. After that, the fee is $15.

LEARN MORE Secured

on Hancock Whitney’s secure website

Member FDIC

How to get Hancock Whitney Bank’s money market accounts

You can open Hancock Whitney Bank’s money market accounts at a branch. You’ll need your Social Security and driver’s license numbers. You’ll also need to be at least 18 and provide an existing bank account and routing number to fund your new account.

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How Hancock Whitney Bank’s money market accounts compare

At first glance, Hancock Whitney’s Money Market account is pretty standard as far as requirements and fees go. We think it’s odd that the Priority Money Market option has such a low opening deposit and such a high balance requirement to earn the APY and to avoid the balance fee.

As with Hancock Whitney Bank’s other personal deposit accounts, you’ll have to contact a branch to find out the rates for your area. Once you have that information, be sure to compare them to those on our list of the best money market account rates to make sure you’re getting the best bang for your buck.

Hancock Whitney Bank’s IRA options

IRA CDs

Hancock Whitney Bank offers CDs opened within an IRA, as well as an IRA Savings account.

But rates, terms and penalties vary by region, so customers should contact a local branch to obtain this information. All IRA CDs will require a $1,000 minimum opening deposit. They also renew automatically at maturity.

Once you have the necessary details, you can compare Hancock Whitney Bank to our list of the best IRA CD rates to see if you might be better off with one of those accounts.

LEARN MORE Secured

on Hancock Whitney’s secure website

Member FDIC

How to get Hancock Whitney Bank’s IRA CDs

If you’re at least 18, you can open Hancock Whitney Bank’s IRA CDs at a branch. Be sure you come prepared with personal information such as your Social Security and driver’s license numbers, as well as an existing bank account and routing number to fund your new account.

Overall review of Hancock Whitney Bank’s banking products

While the fees and requirements on most of Hancock Whitney Bank’s products are minimal, it’s hard for us to compare the accounts to the top products on the market without rate information. So you do your homework and shop around after getting that information from a branch.

But the fact that you have to call or visit a branch to open any account other than the two basic checking accounts is a huge drawback if it’s one of the other products you were after.

If you don’t live near a branch, you may decide it’s not worth the effort to find that information before going to open it in person, because chances are there are much more competitive products available online.

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Emilia Benton
Emilia Benton |

Emilia Benton is a writer at MagnifyMoney. You can email Emilia here

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