Posted by William Charles on November 3, 2016
Bank Account Bonuses

Published on November 3rd, 2016 | by William Charles


[Expired] [AL, AR, FL, LA, MO, MS, TN, TX] BancorpSouth $150 Checking Bonus

This offer has unfortunately expired, view more offers here.

Offer at a glance

The Offer

Direct link to offer

  • Open a new BancorpSouth checking account and receive a bonus of $150 when you complete this requirement:


The Fine Print

  • My Way, Second Chance, Student, Performance, Interest Plus, or Heritage are all eligible accounts
  • Student checking is available for students through the age of 24
  • A Direct Deposit is considered a Government or payroll ACH deposit of $100 or more. (I assume they mean $150 or more)
  • Your $150 incentive will be deposited into your new checking account within 30 days of meeting the recurring direct deposit requirement.
  • Only one $150 incentive offer per household.
  • Account must remain open, active, in good standing and in the same product type through the qualifying period to receive the incentive. In addition, the account must have a positive balance at the time of the incentive payment.
  • Offer available only to recipients of this offer who do not already have a personal checking account with BancorpSouth.
  • BancorpSouth employees and immediate family members are not eligible.
  • Non-US residents and individuals under 18 are not eligible.
  • In the event that we determine in our sole discretion that your account does not meet eligibility criteria or the activity on your account does not qualify as a Qualifying Direct Deposit, we will not be obligated to credit your account with the incentive.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Easiest account to keep fee free seems to be the My Way Checking account, this has a $5 monthly fee that is waived if you do any of the following:

  • $100 minimum daily balance or
  • 5 debit card purchase transactions or
  • Direct Deposit of $100+

According to the fee schedule there is also an early account termination fee of $25 if the account is closed within 90 days of opening.

Our Verdict

It says that the offer is only available to the receipient, but it doesn’t actually look targeted – still something to keep in mind. This is a pretty good offer now that the online application is working, because of that I’m going to add it to our list of the best bank account bonuses due to no credit card funding, it being possibly targeted and also having to go in branch. We might change that if we get some more positive datapoints.

Useful posts regarding bank bonuses:

43 Responses to [Expired] [AL, AR, FL, LA, MO, MS, TN, TX] BancorpSouth $150 Checking Bonus

  1. Moose Cow says:

    Even though there’s an apply now button, the application page says invalid code. Also, in the fine print:

    ” Open a BancorpSouth My Way, Second Chance, Student, Performance, Interest Plus, or Heritage personal checking account between October 24, 2016, and December 31, 2016, at your local BancorpSouth branch. (You must bring this flier.) ”

    Looks like it’s in branch only.

  2. DrRyan_L says:

    This may be old information, but 2 years ago i had a chexsystems inquiry and no hard pull when opening an account with them.

  3. Curmudgeon says:

    Looks like no credit card funding. After clicking the Apply Now button, this comes up on the Welcome! screen:

    You will need to refer to several things during this process:

    U.S. Social Security number
    A valid Driver’s license
    Previous home address
    U.S. checking or savings account to fund your new account(s)

    Promo code not working at the moment.

    For Missouri, there are only two branches:
    – Clayton (St. Louis metro)
    – Springfield

  4. Deezy says:

    Called and asked if it is a hard pull. Rep said “it’s through Experian, but it’s more of a soft pull. I then said, “Will their then be an inquiry on my report to which she said, “yes”. ?????? That IS a hard pull, is it not???

  5. Mimi says:

    I opened account today inside branch. The new accounts teller wasn’t sure the offer was legit so she called their HQ and it was approved as legit offer. I was told there would be a chexsystems inquiry and soft pull on credit. I chose MyWay Checking and opted for NO overdraft protection. Overall, it was easy to open this account.

    While we were talking, teller mentioned about more and more people depositing MOs. I hinted that I would do the same since there’s a lot of hot checks paid at the grocery stores. Teller said it’s perfectly fine since they’re aware that MOs are safer as long as people check the receipts they came from. I said I do that all the time to make sure the MOs were bought at the store. Even if I got the green light for MO deposits, I plan to season this until they know me well.

  6. Jan B says:

    Couldn’t find a FL location. Found TN, though.

  7. NN says:

    the online application seems to be working now, at least in LA

  8. Jon says:

    The offer code is working now. I just completed the applicatiin online.
    Thanks DOC for posting this!

  9. Curmudgeon says:

    Online application now working with code.

    Max funding from another checking / savings is $5000, minimum was $50. No credit card funding available.

    At the end of the application I got a summary page showing the routing number, account number, which account applied for, funding level and name/address/ID info and a confirmation number.

    Now waiting for final account approval. Will need this to create log in.

  10. Ben G says:

    Post mentions a recurring DD. How many times do you have to have a DD of $150? Just once and wait 60 days to get the bonus?

  11. Jay says:

    Successfully applied online and account funded in less than 5 minutes. 🙂

    Might also want to note on the post that the DD requirement must be fulfilled within 60 days of opening the account.

    Since the incentive should be deposited within 30 days after fulfilling the requirement, that should give us at least one free try in scouting out DPs for qualifying DDs. My first try will be PayPal in the next couple of days, and if I don’t receive the incentive within 40 days of that DD, I’ll resort to Serve.

    • Added this, keep us updated with DP of what counts as direct deposit.

      • Jay says:

        Unfortunately, my account was reviewed and cancelled 2 business days after I opened it online (got an account # and everything), but thankfully before the initial funding fully went through.

        Reason: “To open an account at BancorpSouth, you must reside near a branch location.”

        Their nearest branch was roughly 72 minutes away from my account address, and it was also the one that I designated in the online application. I guess that doesn’t quite qualify as “near” 🙁

        I wonder what the criterion is? Same town/city? Zip-code based?

  12. dan says:

    my online appl is pending; did folks who applied online get instant approval?

    • dan says:

      this is in TX, nearest branch is about 120 miles; received this msg after applying earlier this morning:

      Dear BancorpSouth Online Applicant,

      Thank you for applying for a new account at BancorpSouth. Unfortunately, we did cancel your application. To open an account at BancorpSouth, you must reside near a branch location.

  13. Curmudgeon says:

    I got an email asking for copy of drivers license to verify identity, then less than an hour later another email said my application had been cancelled since I don’t live “near enough” to a branch.

    Called customer service and after probably 15 minutes on hold while the rep checked with multiple people I was told that you have to live within an hour of a branch to apply online, but she said I was free to apply in branch so apparently you can live far away if you open at a physical branch.

    I live about 3 hours away from a branch, but will be in that area later this month so I’ll stop by and see if open in branch still gets me the bonus and if there are any other roadblocks.

  14. NN says:

    can confirm it’s a ChexSystem inquiry.
    I opened in branch in LA and in the document they gave me, it stated they did a check on my ChexSystem report.
    Pretty straightforward, took about 20 mins

  15. Les Harper says:

    is Houston with in the 1 hour driving distance if I speed…lol

  16. Chris says:

    Their branch locator shows a Mortgage branch in my city. I wonder if that will be sufficient?

  17. jackgopack4 says:

    Super easy.

    I live in Pensacola, about 50 miles from their only FL branch in Destin. Applied online 11/15, no hard inquiry. Needed to send my driver license via email the next day and was approved, 11/16.

    I set up a direct deposit of $150 that came in on 11/30 and received my bonus on 12/7. Plan on keeping it open until the end of March then closing (90 days).

  18. Ben says:

    Rec’d my bonus on 12/7 also. Real DD. Thanks Doc! U guys are the freakin Bomb!

  19. NN says:

    received my bonus on 1/23. Have to called in. I use real DD. Thanks DoC

  20. sam says:

    Got my bonus. Secure message got it posted within the week (after the time frame had passed).

  21. sam says:

    Watch out! This nasty little bank wants to try and charge you an “official check fee” when you close your account. Let the CFPB deal with it.

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