BancorpSouth Bank offers checking, savings, lending, credit card, and wealth management solutions for both personal and business needs. Additionally, there is a portion of the BancorpSouth business that deals with insurance. Personal and commercial clients can also take advantage of dedicated advisors to provide guidance through financial confusion.

Checking Accounts

BancorpSouth Bank provides a number of checking accounts that are designed to fit the specific financial lifestyles of their clients. There are solutions for students, retirees, individuals on fixed budgets, and for those in situations in between. All checking accounts include direct deposit and free online and mobile banking features. The following are the BancorpSouth checking options:

My Way Checking: for those just starting out, this account requires a $50 opening balance and $5 monthly service charge.
Performance Checking: those who want to earn interest, there is a $50 minimum opening balance and $10 monthly service charge.
Interest Plus Checking: earn a tiered interest with a $1,000 opening balance and $10 monthly service charge.
Heritage Checking: designed for seniors age 62+. Requires a monthly balance of $500 and an $8 monthly maintenance fee.
Student Checking: for students under 24 years of age. There is no monthly service charge or monthly requirements.
Second Chance Checking: build a good check writing history with no monthly requirements and a $10 monthly service charge that cannot be voided.

Savings Packages

There are savings packages that will help any and all client reach the goal right away. All savings accounts have access to BudgetWise which allows users to view account balances and track budgets in one convenient place. There are also financial tools that help users stay informed and learn about practical money skills. Free online banking is also provided. There are five savings options which are broken down as follows:

My Goal Savings: designed for saving for vacations
Performance Savings: earn higher interest rates
Select Savings: quarterly interest paid
Young Savers: for children under the age of 17
Christmas Club: reach a holiday goal by the end of the year

One of the most unique features that BancorpSouth has to offer is their advisement center. This features helps clients with managing money, workplace finances, home ownership, college strategies, family finances, and even retirement. Regardless of the money issue, BancorpSouth has the knowledge to help.

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The Bad

Lending options
Monthly service charge

Lending Options

The lending portion of the BancorpSouth Bank platform is rather sparse. Basic loans, like student loans, are not offered through BancorpSouth at this time. In fact, the only loans and lines of credit that are available include:

Home/mortgage loans
Home Equity loans
Consumer loans

Monthly Service Charge

BancorpSouth Bank requires a minimum monthly service charge on nearly all checking and savings accounts. These charges are designed to offset maintenance work done on these accounts. While there are way to avoid these charges, clients must meet certain requirements. These requirements include minimum deposit amounts and transfers. If a client fails to meet these requirements, the charge will be assessed.

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The Bottom Line

BancorpSouth Bank provides basic banking solutions to personal and business clients along with unique advisement help. All financial transactions are secure and BancorpSouth is backed by FDIC. Those that decide to go with BancorpSouth as their banking provider can expect the following from the service:

Checking and savings account options
Credit cards available for those who qualify
Wealth management/advice center
Limited lending options
Monthly service charges

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Mark S. Waimea, HI

I’ve been with my current bank throughout 40 years of transitions and changes. Only now after Bancorps$&ks took over am I finally moving on. * Limited to 1k a day between my own accounts, and they charge a 3.00 fee each time. Called to speak to somebody about this but was put on hold for over 35 minutes before disconnected. Called back, transferred after 20 minutes of hold time, then transferred again for another 1 hour of waiting… I finally hung up. I’m still trying to terminate my account with these clowns but nobody even responds to my emails either. *** WARNING*** If at all possible, go with a different bank.

5 years ago

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bahar

I still cannot believe how poor and disrespectful they treat their costumers. I have been mistakenly charged for something that was not my fault. They charged me every month without even notifying me for receiving back my paper statements from post office. Something which is apparently post office's mistake. I called them and asked for a refund for something that was not my fault. In my surprise, they simply refused to give me any refunds! I really feel sorry for a bank that charges its costumer for the bank's mistake. I've had my account for almost 5 years and I am going to close it right away in the morning

9 years ago

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Kat Houston, TX

Ive had my debit card revoked even though I’ve never written a bad check and maintain healthy balances in multiple accounts Still no explanation

6 years ago

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M. B. Granger, TX

BancorpSouth is fee happy!

8 years ago