Hancock Whitney to eliminate NSF and certain overdraft fees
GULFPORT, Mississippi, March 25, 2022–(BUSINESS WIRE)–Hancock Whitney Bank, the banking subsidiary of Hancock Whitney Society (Nasdaq: HWC), today announced plans to eliminate consumer insufficient funds (NSF) fees (retail) and certain overdraft (OD) fees by the end of 2022. Additionally, in In an effort to better meet customer needs, other consumer checking account features and products are being modified.
The following client account fee changes will be implemented by the end of 2022:
Elimination of all NSF fees
Removal of certain overdraft protection transfer fees
Elimination of sustained overdraft fees
An increase to our existing overdraft balance threshold to provide customers with an even greater cushion before charges are assessed
“Helping people achieve their financial goals and dreams has been our company’s hallmark since 1883,” said John M. Hairston, President and CEO. “Today, the financial industry has entered a new era in banking, designed to provide customers with the tools to help them manage their overall finances, and we believe these changes are another step towards realizing this. this goal.”
As part of an overall update to the bank’s consumer offerings and to help customers meet their cash needs, Hancock Whitney launched Early Pay in March 2022. This benefit comes with any current or bank account. Hancock Whitney Savings and can give customers access to their directly deposited pay up to two days early, helping them manage their spending and avoid overdrafts.
Additionally, later this year, Hancock Whitney will begin offering a new control product for consumers who want simplicity and control, while avoiding overdrafts and overdraft fees. This product, Assure Checking, is a new account with no overdraft fees and is part of a wider range of deposit products launching later this year and designed to help consumers avoid payday lenders.
The elimination of the NSF and certain OD fees mentioned above will be phased in by the end of 2022 and should reduce the company’s service fees on deposit accounts by approximately 10-11 million dollars per year.
About Hancock Whitney
Since the late 1800s, Hancock Whitney has embodied the core values of honor and integrity, strength and stability, commitment to service, teamwork and personal responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana and Texas offer comprehensive financial products and services, including traditional and online banking; corporate and small business banking; private bank; trust and investment services; health banking services; certain insurance services; and mortgage services. The company also operates a loan origination office in Nashville, Tennessee. More information is available at www.hancockwhitney.com.
Important Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements often include the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “plans”, “goals”, “targets”, ” initiatives”, “focuses”, “potentially”, “probably”, “projects”, “prospects” or similar expressions or future conditional verbs such as “may”, “will”, “should”, “would” and ” could “. In addition, any statement that does not describe historical or current facts is a forward-looking statement. Forward-looking statements are based on management’s current beliefs and expectations and information currently available to management. Our statements speak as of the date hereof, and we undertake no obligation to update such statements or to update why actual results may differ from those contained in such statements in light of new information or changes. future events. Forward-looking statements are subject to significant risks and uncertainties. Any forward-looking statements made in this release are subject to the safe harbor protections set forth in the Private Securities Litigation Reform Act of 1995. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Other factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in Part I, “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. and in other periodic reports we file with the SEC.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220325005274/en/
Trisha Voltz Carlson, Executive Vice President, Head of Investor Relations
504.299.5208 or email@example.com