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Hancock Whitney Bank is a decent option if you live in Alabama, Florida, Louisiana, Mississippi, or Texas, and prefer a sizable branch network to online banking. It makes it easy to waive monthly fees, and it pays good savings rates compared to many regional banks. You'd still earn much better interest rates with online high-yield savings accounts, though.
Hancock Whitney Bank Review: Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 3.75 |
| Checking | 3.75 |
| Money market account | 3.25 |
| CD | 3.75 |
| Trustworthiness | 5 |
| Total | 4 |
Hancock Whitney Bank Pros and Cons
| Pros | Cons |
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About Hancock Whitney Bank
Hancock Whitney Bank is a brick-and-mortar regional bank with around 200 branches and 300 free ATMs. Branches are located only in five states in the southern region of the U.S.: Alabama, Florida, Louisiana, Mississippi, and Texas.
Customer service is available by phone from 7 a.m. to 7 p.m. CT on weekdays and 8 a.m. to 2 p.m. CT on Saturdays.
The regional bank's mobile app received 4.7 out of 5 stars in the Google Play store and 4.8 out of 5 stars in the Apple store.
Hancock Whitney is a Member FDIC bank, so you may safely keep up to $250,000 in individual accounts and $500,000 in joint bank accounts.
Is Hancock Whitney Bank Trustworthy?
The Better Business Bureau gives Hancock Whitney an A+ rating. A high BBB grade indicates that a company responds well to customer complaints, is transparent about business practices, and advertises honestly.
The bank has not been involved in any recent public controversies.
Hancock Whitney Bank FAQs
Hancock Whitney Bank is a good bank if you live in Alabama, Florida, Louisiana, Mississippi, or Texas, and want to use an in-person regional bank. It isn't the best choice if you're looking to avoid overdraft fees.
Overall, Hancock Whitney Bank is very stable. Financial rating agency BauerFinancial gives the bank 5 out of 5 stars.
Yes, Hancock Whitney is a secure bank. Your deposits are FDIC-insured for up to $250,000 in an individual account or $500,000 in a joint account. This means that even if Hancock Whitney Bank shuts down, your insured money is safe.
Hancock Whitney Corporation is a financial services company and the parent company of Hancock Whitney Bank.
Hancock Whitney Bank Account Reviews
Hancock Whitney Freestlye Savings Account
$5 monthly service fee
0.05% to 3.00%
$25
- $25 minimum opening deposit
- Easy to waive the monthly service fee
- $5 monthly service fee
- Only 3 free withdrawal per month, then $3 per additional withdrawal
The Hancock Whitney Freestyle Savings Account is a good choice if you qualify to waive the monthly fee, and if you keep under $100,000 in your account to earn high interest rates. If you want to make more than three withdrawals per month, you’ll probably prefer a different savings account.
- Over 200 branches and almost 300 ATMs in AL, FL, LA, MS, and TX
- Tiered interest rate system: Earn 2.50% APY on balances between $0 and $9,999.99; 2.75% APY on balances between $10,000 and $24,999.99; 3.00% APY on balances between $25,000 and $100,000; 0.05% APY on balances over $100,000
- Interest compounded daily and paid monthly
- To waive the $5 monthly service fee, complete one of the following each month: Maintain a minimum daily balance of $250, make one qualifying transaction, or be under age 18 or age 64+ as the primary account owner
- Member FDIC
The Hancock Whitney Freestyle Savings Account pays a good interest rate on balances up to $100,000 and makes it easy to waive the $5 monthly service fee. The main downside is that you can only make three free withdrawals per month — most banks allow at least six monthly withdrawals from savings accounts.
Hancock Whitney Freestyle Checking Account
$10 monthly service fee
N/A
$25
- $25 minimum opening deposit
- Easy to waive the monthly service fee
- No fee if you withdraw by $5 or less, or by $10 or less by EOD
- $10 monthly service fee
- $36 overdraft/non-sufficient funds fee
- $10 account transfer overdraft protection fee
- $2 out-of-network ATM fee
The Hancock Whitney Freestyle Checking Account is a good option if you want a simple checking account. It has a low minimum deposit and makes it easy to waive the monthly fee. But keep an eye out for other fees, including overdraft/overdraft protection fees and out-of-network ATM charges.
Hancock Whitney Freestyle Checking Account- Over 200 branches and almost 300 ATMs in AL, FL, LA, MS, and TX
- Waive the $10 monthly service fee by doing one of the following: Making one eligible transaction each month, making one automated deposit or payment each month, or being under age 18 or age 64+ as the primary account owner
- Set up overdraft protection by linking your savings account to your checking account; money will automatically transfer from savings to cover the overdraft, and you’ll pay a $10 fee
- Sign up for Visa® Purchase Alerts to receive a notification when your card makes a purchase over a certain amount
- Hancock Whitney charges a $2 fee when you use an out-of-network ATM; the ATM issuer may charge an additional fee
- Member FDIC
The Hancock Whitney Freestyle Checking Account makes it easy to waive the $10 monthly service fee, but keep an eye out for other fees.
You'll pay a $2 fee if you use an out-of-network ATM, plus any additional fee the ATM issuer charges. You can link this account to your savings account so money automatically transfers to cover any overdrafts, but you'll still pay a $10 fee each time you tap into this overdraft protection.
Hancock Whitney Personal Money Market Account
$10 monthly service fee
0.00% to 0.05%
$2,500
- Possible to waive monthly service fee
- Check writing included
- Low interest rate
- Must have at least $2,500 to earn interest
- $2,500 minimum opening deposit
- $10 monthly service fee
- No debit card
- Over 200 branches and almost 300 ATMs in AL, FL, LA, MS, and TX
- Earn 0.05% APY if you maintain $2,500 in your account daily
- Interest compounded and deposited monthly
- Member FDIC
The Hancock Whitney Personal Money Market Account is probably the bank's weakest product. It has a high minimum opening deposit and pays very low interest rates.
Hancock Whitney CD
0.01% to 4.25%
$1,000
- Variety of terms
- Standard CD penalties
- $1,000 minimum opening deposit
- Over 200 branches and almost 300 ATMs in AL, FL, LA, MS, and TX
- Terms range from 7 days to 7 years
- Early withdrawal penalties vary depending on term and amount deposited; Contact your nearest branch to learn more information
- Interest compounded daily and deposited monthly
- Member FDIC
Hancock Whitney offers more CD terms than most banks. You can choose from terms as long as seven years, while many institutions only offer terms up to five years. Hancock Whitney pays high rates on a few select terms, but otherwise, you'll find the best CD rates elsewhere.
How Hancock Whitney Bank Compares
Hancock Whitney Bank vs. Woodforest National Bank
Woodforest National Bank is available in the same states as Hancock Whitney, as well as Georgia, Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, and West Virginia. So if you're looking for a larger branch network throughout the country, Woodforest will be the better option.
Woodforest National Bank will be better for a money market account, because it pays a higher rate and has a much lower minimum deposit. The best CD rate between the two banks will vary by term length, but keep in mind that Hancock Whitney has terms up to seven years while Woodforest's longest term is five years.
Woodforest National Bank Review
Hancock Whitney Bank vs. Regions Bank
Regions Bank has branches in the all of the same states as Hancock Whitney except for Louisiana. Regions also has locations in Arkansas, Florida, Illinois, Indiana, Iowa, Kentucky, Missouri, North Carolina, South Carolina, and Tennessee.
Regions offers a free savings account, but it pays a much lower rate than the Hancock Whitney Freestyle Savings Account.
You might like Regions if you're looking for a bank with 24/7 customer support.
Why You Should Trust Us: How We Reviewed Hancock Whitney Bank
We used the Personal Finance Insider bank account methodology to review Hancock Whitney's savings, checking, and money market accounts. We used our certificate of deposit methodology to reviews its CDs.
We rate bank accounts on a scale from one to five stars. For each account, we evaluate the minimum opening deposit and the company's ethics, security, miscellaneous features, mobile app, and customer service. Other factors considered depend on the type of account we're reviewing. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
