Budget Smart Checking
BancorpSouth is here to help you grow your financial future with educational tools and continuous support. Budget Smart ensures all customers have access to safe, trusted, and affordable banking options enabling them to save, build wealth for their families and improve the quality of life in their communities. Plant the seed. Start growing a financial future today.
Time to Grow
An account that makes it easy to learn good money habits from the start.
Easy & Convenient
With added features like Online Bill Pay and Zelle®, Budget Smart offers simple banking solutions.
Budget Smart has overdraft avoidance, saving you money and hassle.
Online and mobile banking access
Standard Mastercard® Debit Card
Open an account with as little as a $25 minimum opening balance
$5 monthly maintenance fee
Features and Benefits
- Online bill pay and Zelle® for personal payments
- Benefit from direct deposit and have your payroll, Social Security or other recurring incomes deposited straight into your checking account
- Get a Standard Mastercard® Debit Card
- Keep track of your finances with online or paper statements
- Gain access to Spending, our online budgeting tool
- Enjoy Mobile Banking(5)
- Utilize Mobile Wallet ‐ a fast and secure way to keep pace with your lifestyle(14)
- Gain access to your account information 24 hours a day with just a quick call to our InfoLine at 1-888-797-7711
- Enjoy unlimited check writing privileges. (Checks are available for purchase.)
- Accounts in good standing after one year, with no overdrafts or bad checks, are eligible to transfer to one of our standard checking accounts.(30)
Requirements & Fees
- Available to everyone with no incidence of conducting fraudulent activity or outstanding money owed to BancorpSouth.
- $25 minimum to open
- $5 monthly maintenance fee (flat fee - no options to waive)
- No minimum balance requirements
- Debit card - not eligible for Opt-In (on ATM and debit transactions) or Overdraft Protection Services(13)
- Overdraft avoidance - account restrictions to help you spend only the money available by declining most transactions that exceed the amount of funds in the account(29)
(5) Carrier data charges may apply. The BancorpSouth Mobile Banking App is available for iPhone® and Android™ devices. Visit the iTunes Store or the Android™ Market to download your app today. If you do not have an iPhone or Android device, you can access Mobile Banking by going to bancorpsouth.com/mobile after enrolling.
(13)BancorpSouth’s Budget Smart Checking product is not eligible to participate in BancorpSouth’s overdraft services including, but not limited to, overdraft protection services. Those services are discretionary and do not apply to Budget Smart Checking accounts and you will not be allowed to opt-in for such services. BancorpSouth will decline or return transactions when you do not have enough money in your account to cover the amount of the transaction. While this prevents you from overdrawing your account in most cases, there may still be times when your account could have a negative balance. In instances where transactions cause you to have a negative balance or where items you issue are returned unpaid, BancorpSouth will not charge you overdraft or insufficient funds fees. If you do have a negative balance, you will be obligated to repay the overdrawn amount.
(14)• Not available for BancorpSouth VISA credit card, Mastercard Business debit or credit card, or HSA customers. Only available for Mastercard personal debit cards or credit cards issued by BancorpSouth. • Not all retailers accept mobile wallet payments. Look for the symbol or icon representing the mobile wallet app you use prior to making purchases. Additionally, the retailer must also accept Mastercard. • Availability of your mobile wallet may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.
(29)BancorpSouth’s Budget Smart Checking product is not eligible to participate in BancorpSouth’s overdraft services including, but not limited to, overdraft protection services. Those services are discretionary and do not apply to Budget Smart Checking accounts and you will not be allowed to opt-in for such services. BancorpSouth will decline or return transactions when you do not have enough money in your account to cover the amount of the transaction. While this prevents you from overdrawing your account in most cases, there may still be times when your account could have a negative balance. For example, your account could have a negative balance if a transaction is approved for one amount, but the actual charge is more than the amount of money in your account. This could happen if you use your debit card to purchase a meal where the amount for the meal is approved but the tip added after the transaction was approved makes the total charge that posts to your account exceed your account balance. Another example would be if there is not enough money in your account to cover the monthly service charge or other service charges for your account. These are just some examples of the way your account could have a negative balance.
(30)BancorpSouth may not approve everyone for a Budget Smart Checking account. Only those individuals that receive at least a limited approval through ChexSystems qualify. Except as provided below, Budget Smart Checking is subject to BancorpSouth's standard deposit policies and fees. If you maintain your account for 12 consecutive months without having a negative balance and without having any items returned unpaid, you may request a different BancorpSouth checking account product. If your account is converted to a new product, it will be subject to the terms and conditions applicable to that product at the time of conversion.