GULFPORT, Miss., March 25, 2022–(BUSINESS WIRE)–Hancock Whitney Financial institution, the banking subsidiary of Hancock Whitney Company (Nasdaq: HWC), immediately introduced its plans to remove client (retail) non-sufficient funds (NSF) charges in addition to sure overdraft (OD) charges by the top of 2022. Moreover, in an effort to additional meet buyer wants, different client checking account options and merchandise are being modified.
The next client account payment modifications can be carried out by the top of 2022:
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Elimination of all NSF charges
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Elimination of sure overdraft safety switch charges
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Elimination of a sustained overdraft payment
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A rise to our current overdraft stability threshold with a purpose to present shoppers a good better cushion earlier than charges are assessed
“Serving to folks obtain their monetary objectives and goals has been an indicator of our firm since 1883,” mentioned John M. Hairston, President & CEO. “Immediately the monetary trade has entered a brand new period in banking designed to supply clients with the instruments wanted to assist them handle their general funds, and we imagine these modifications are one other step in direction of reaching that purpose.”
As a part of an general replace to the financial institution’s client choices, and to help clients with their liquidity wants, Hancock Whitney launched Early Pay in March, 2022. This profit comes with any Hancock Whitney client checking or financial savings account and may give clients entry to their direct-deposited payroll as much as two days sooner, in flip serving to them to handle their spending and keep away from overdrafts.
Moreover, later this yr Hancock Whitney will start providing a brand new checking product for customers who need simplicity and management, whereas avoiding overdrafts and overdraft-related charges. This product, Guarantee Checking, is a brand new no-overdraft payment account and is a component of a bigger suite of deposit merchandise launching later this yr designed to assist customers keep away from payday lenders.
The elimination of the NSF and sure OD charges famous above can be phased in by the top of 2022, and is anticipated to scale back the corporate’s service expenses on deposit accounts by roughly $10-$11 million yearly.
About Hancock Whitney
Because the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Energy & Stability, Dedication to Service, Teamwork, and Private Duty. Hancock Whitney workplaces and monetary facilities in Mississippi, Alabama, Florida, Louisiana, and Texas provide complete monetary services, together with conventional and on-line banking; industrial and small enterprise banking; personal banking; belief and funding providers; healthcare banking; sure insurance coverage providers; and mortgage providers. The corporate additionally operates a mortgage manufacturing workplace in Nashville, Tennessee. Extra data is obtainable at www.hancockwhitney.com.
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Contacts
Trisha Voltz Carlson, EVP, Investor Relations Supervisor
504.299.5208 or trisha.carlson@hancockwhitney.com