BankPlus Review: Regional Banking With Big Perks and Fee-Free Options

Fee-free accounts and innovative tools for modern banking.

BankPlus, a regional bank serving the southeastern United States, offers a range of financial products, including checking, savings and CD accounts. Known for its community-focused approach, the bank provides modern conveniences like Interactive Teller Machines and digital banking tools, making banking accessible and user-friendly.

BankPlus, Member FDIC, operates across Mississippi, Alabama, Louisiana and Miramar, Florida. From fee-free accounts to innovative tools like Interactive Teller Machines, BankPlus caters to diverse financial needs while maintaining a focus on community and convenience.

GOBankingRates rated BankPlus as one of the Best Banks in Mississippi for its accessible products, fee-free options and dedication to enhancing customer convenience through technology like Interactive Teller Machines.

BankPlus Checking Accounts

BankPlus offers a variety of checking accounts designed to meet different customer needs. Options include no monthly fees, interest-earning balances and added perks like $1,200 worth of cell phone protection per year through BaZing Benefits.

• ValuePlus Checking: Requires $100 minimum opening deposit and a $6 monthly fee with no option for waiving. Includes BaZing Benefits like shopping discounts, roadside assistance and cell phone protection. 
• ValuePlus Student: Requires $50 minimum opening deposit and $6 monthly fee with no option for waiving. Includes BaZing benefits and automatic ATM rebates.
• ValuePlus Interest Checking: Requires $1,500 minimum opening deposit. Earns interest on balances and includes BaZing Benefits. The $8 monthly fee is waived with a $1,500 daily minimum balance.
• Carefree Checking: No-frills checking that requires $100 minimum opening deposit. No monthly fee with paperless statements; otherwise $5.
• Student: Requires $50 minimum opening deposit with no monthly fee. Automatic ATM rebates are included.
• PrimePlus Checking: A no-fee account for customers aged 50 and up. Balances $1,000 and above earn interest.
• InvestmentPlus Checking: Requires minimum opening deposit of $1,000 and $1,000 daily minimum balance to waive $8 service fee. Additionally, this account features tiered interest rates on balances $1,000 and above.

BankPlus Checking Account

Start Banking

Best For

Banking in Mississippi

Mobile App

Low Monthly Fees

Loan Options

Investment Services

Variety of Accounts Designed for Different Customer Needs

BankPlus checking accounts cater to a variety of needs, offering no-frills and interest-earning options. Enjoy added perks like BaZing Benefits for discounts and protection or fee-free accounts with paperless statements.

Fees

Up to $6 monthly service fee

APY

Min Opening

$50 to $1,500

Pros

• Some accounts offer BaZing Benefits for discounts and added protection
• Most accounts have no or easily waivable monthly fees

Cons

• Higher daily balances required for waiving fees on premium accounts
• Only student accounts offer automatic ATM rebates

Quick Take

Whether you’re looking for a no-frills account or one with extra perks, BankPlus checking accounts offer plenty of options.

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BankPlus Savings Accounts

BankPlus savings accounts are designed to help customers build financial stability while keeping fees low.

• Personal Savings: Requires a $100 minimum deposit and offers a APY. No monthly fee with a $100 minimum balance; otherwise, a $5 monthly fee applies.
• Christmas Club: Requires a $5 minimum opening deposit and offers a APY. No minimum balance required and no fees. 

BankPlus Savings Account

Start Banking

Best For

Banking in Mississippi

Mobile App

Low Monthly Fees

Loan Options

Investment Services

Low Minimum Deposits Starting at $5

BankPlus savings accounts offer low minimum deposits and easy-to-waive monthly fees. Whether you’re saving for the holidays or building financial stability, these accounts help keep costs down while growing your savings.

Fees

$5 below minimum balance fee

APY

Min Opening

$5 to $100

Pros

• Low minimum opening deposits
• Easy option to waive monthly fee

Cons

• Limited product variety compared to other banks
• Higher APYs can be found elsewhere

Quick Take

BankPlus savings accounts offer options for customers looking to grow their money while keeping fees to a minimum, but more competitive APYs can be found elsewhere. 

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BankPlus Money Market Accounts

BankPlus’ High-Yield Money Market account combines a low opening deposit requirement with competitive interest rates, making it an attractive option for savers.

• Requires a $100 opening deposit.
• Offers APY on all balances. 
• Six free transactions per month; $10 each thereafter. 

BankPlus Money Market Account

Start Banking

Best For

Banking in Mississippi

Mobile App

Low Monthly Fees

Loan Options

Investment Services

Competitive APY

BankPlus’ High-Yield Money Market account stands out with its low $100 opening deposit and competitive interest rates. Perfect for savers seeking flexibility and higher returns with manageable fees.

Fees

$10 transaction fee applies after six transactions

APY

Min Opening

$100

Pros

• Low minimum opening deposit
• Competitive APY

Cons

• $10 transaction fee after six transactions

Quick Take

BankPlus’ High-Yield Money Market account offers a low $100 minimum opening deposit and a higher APY than a traditional savings product.

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BankPlus CD Accounts

BankPlus offers CDs with a range of terms and fixed interest rates. 

• Terms for standard CDs range from 30 days to 5 years.
• CD accounts require a $1,000 minimum opening deposit.
• APYs range from – APY.

BankPlus CD Account

Start Banking

Best For

Banking in Mississippi

Mobile App

Low Monthly Fees

Loan Options

Investment Services

CD Terms up to 5 Years

BankPlus CD accounts provide secure, low-risk investment options with terms ranging from 30 days to 5 years. A $1,000 minimum deposit gives you access to reliable, fixed rates.

Fees

Early withdrawal penalty may apply

APY

Up to

Min Opening

$1,000

Pros

• Wide range of term options
• Fixed interest rates

Cons

• Early withdrawal penalty may apply
• Higher APYs can be found elsewhere

Quick Take

BankPlus CDs offer secure, low-risk investments with a variety of term lengths. However, the rates aren’t as competitive as those offered by other banks.

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Banking Experience

BankPlus offers a full-scale banking experience — traditional banking services combined with the conveniences of modern technology. Customers have access to a host of online and mobile banking tools, as well as innovative Interactive Teller Machines that offer personalized service outside of bank branches.

• Online and mobile banking: BankPlus has a digital platform offering services including mobile check deposit, text banking, money manager and person-to-person transfers through Zelle. The BankPlus mobile app, available on the App Store and Google Play, is rated 4.8 and 4.5 out of 5 stars.
• Interactive Teller Machines: ITMs combine the convenience of an ATM with live video assistance from a teller. Available Monday through Friday from 7 a.m. to 7 p.m. and Saturday from 9 a.m. to 1 p.m., these ITMs let you do more than basic transactions. You can cash checks, withdraw specific amounts like $31 and even choose denominations, including $1 bills.
• Branch locations: While BankPlus is regionally based, its ITMs help expand access to services, especially in areas with limited branch locations. 
• Customer support: Customers can access support through branches, via phone or by web chat. Additionally, CallPlus 24-hour Banking is available.

Comparable Regional Banks

Here’s a quick look at how BankPlus compares to other regional banks. 

Checking

Savings

Money Market

SELECTED BANK

BankPlus Checking Account

Start Banking

MOST COMPARABLE

Woodforest National Bank Checking Account

Read Review

MOST COMPARABLE

Hancock Whitney Checking Accounts

Read Review

Fees

Fees

Fees

Up to $6 monthly service fee

$6.95 to $11.95, waivable

$10

APY

APY

APY

N/A

Min Opening

Min Opening

Min Opening

$50 to $1,500

$0

$25

SELECTED BANK

BankPlus Savings Account

Start Banking

MOST COMPARABLE

Woodforest Savings Account

Read Review

MOST COMPARABLE

Hancock Whitney Savings Accounts

Read Review

Fees

Fees

Fees

$5 below minimum balance fee

$2 excessive withdrawal charge

$5

APY

APY

APY

Up to

Min Opening

Min Opening

Min Opening

$5 to $100

$25

$25

SELECTED BANK

BankPlus Money Market Account

Start Banking

MOST COMPARABLE

Woodforest Money Market Accounts

Read Review

MOST COMPARABLE

Hancock Whitney Money Market Accounts

Read Review

Fees

Fees

Fees

$10 transaction fee applies after six transactions

$10 monthly,waivable with $1,000 balance

$10

APY

APY

APY

Min Opening

Min Opening

Min Opening

$100

$25

$2,500

BankPlus vs. Renasant Bank

Both BankPlus and Renasant Bank operate in the southeastern United States, offering a variety of personal and business banking services and products to customers. Renasant Bank offers CD Specials with much higher APYs than what BankPlus offers. However, BankPlus offers a more robust lineup of checking options than Renansant Bank.

BankPlus vs. Trustmark National Bank

BankPlus and Trustmark National Bank cater to similar regions and offer both personal and banking services and products, including wealth management options. While Trustmark offers a variety of checking options, including a checking account for people who need to get their finances back on track, BankPlus offers checking accounts with easier fee waivers, making it a more practical banking choice for many customers.

BankPlus vs. Regions Bank 

Regions Bank covers a broader area than BankPlus, including having locations in Georgia and Tennessee, which means more accessibility. It also offers Overdraft Grace, which gives account holders until 8 p.m. CST on the next business day to make a deposit to cover the overdraft before charges are applied. However, BankPlus offers Interactive Teller Machines and BaZing benefits, while Regions Bank does not. 

Final Take  

BankPlus is best for customers seeking a mix of expected banking products, personalized service and modern banking tools. With options ranging from checking with easily waivable fees to CDs with a range of terms, it’s a good choice for people living in its service area. However, for people looking to make the most of their money, other banks may offer better rates on savings products. 

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 3, 2024.

To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 3, 2024.

To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.

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