[Expired]Whitney Bank $300 Checking + Savings Bonus – no direct deposit required [LA, MS, FL, AL, TX]

This deal has expired, you can view more bank bonus deals here.

We’re reposting this deal because reader David C let us know it’s a soft pull to open and you can’t fund with a credit card.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: LA, MS, FL, AL, & TX only
  • Direct deposit required: No
  • Additional requirements: E-statement enrollment and 5 transactions
  • Hard/soft pull: Soft
  • Credit card funding: None
  • Monthly fees: Waived with $250 balance
  • Early account termination fee: Unknown
  • Expiration date: 11/30/15

The Offer

Direct Link   Branch Locator

  • Open a checking account with Whitney Bank and receive a $200 Visa gift card after enrolling in e-statements and using your debit card 5 times before 12/31/15.
  • Open a Silver Savings account and receive an additional $100 Visa gift card when you deposit a total of $20,000 or more in new money and maintain your $20,000 balance through 1/31/16.

Account must be opened in-branch or possibly over the phone. No option to open an account online.

The Fine Print

  • Offer expires 11/30/15.
  • The checking account must be opened with new money not currently held by Whitney or Hancock Bank.
  • Limit one gift card per household.
  • New accounts must make five (5) debit transactions (Checks, Point of Sale Purchases, or Bill Pay and excluding ATM withdrawals) and enroll in online statements by 12/31/15.
  • Gift cards will be sent to customer at the address of record within 4-6 weeks of offer expiration date of 12/31/15, if offer requirements are met.
  • The $200 VISA gift card is valid for any personal checking account.
  • Limit of one new savings-account-related bonus per calendar year.

Avoiding Fees

The basic checking account (called the ‘Access’ account) comes with a $10 monthly fee, waived with a $250 daily balance and waived for those under age 24 or over the age of 64.

We don’t know if there is an early termination fee. Usually, after 6 months it’s safe to close the account, in any case.

Our Verdict

The checking offer sounds very good; it doesn’t need a direct deposit and the two requirements of e-statements and 5 transactions should be easy enough to meet. The downside is that it can’t be done online, but hopefully it’s possible to do it over the phone so you don’t have to physically go into the branch.

The savings offer is a little trickier since their interest rate is just .01% APY. You’ll only need to leave the $20,000 in the account until 1/31/15 so it’s technically worth it as you’ll net $100 in 2-2.5 months on $20,000 an effective interest rate of 2% or 3%, which is better than the standard 1%. However, it may not be worth the bother for the small gain.

We’ve added this bonus to our list of the best geographically restricted bonuses, you can also view a full list of all the current bank bonuses by going here.

HT: Ted on Saverocity forum

View Comments (13)

  • I went to a branch in Florida, and they said that it's a targeted offer. The banker actually took my address and checked against some system (over the phone). It's supposedly only available to people who received an ad in the mail.

    • They told me the same, signed up anyway, calling their bluff because I told them I received but lost a flyer in the mail and asked them to check my address in the database they said they couldn't do that...

      Just completed 5 debit card purchases and online e-statements

      We shall see....screenshots ready in hand

  • So I just spent half an hour in a Whitney Bank branch here in Texas. The banker wasn't aware of the promotion and I had to give him the url to pull up on his computer. He called a few people and finally got someone who said the promo was only for the Florida and Louisiana markets, so no dice.

  • Not related to this post but haven't received your newsletter since Oct. 16. Not shown up in spam either. What's up?

  • Hmmm, there is a branch less than a mile from my house and they're open for another couple hours. No more CC churning for a while while my score recovers a bit... may need to scratch that itch with a new bank bonus. That would be $600 in a couple months with two banks one the Discover $300 comes through.

      • Turns out I'd misread the times on their site and they're not open on the weekend. I'll have to see when I can make time to stop by this week. It's a five minute drive from my house so it should be possible.

        I'll report on whether it's a hard pull or not- the thought hadn't even occurred to me. Makes me pause to consider if I should freeze my EX report.

  • damn, finally a regional bank offer that includes TX... but bad timing as I'm currently traveling & out of the country -- the one time I finally redeem miles & travel, after being grounded all year. ahh catch 22, but hopefully this one comes back since its an easy $200.

    even have a full-service branch nearby my house.

  • (2) "Offer is non-transferable and cannot be combined with other offers."

    Does this means it's a targeted offer?