Posted by William Charles on December 4, 2019
Bank Account Bonuses

Published on December 4th, 2019 | by William Charles

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[AL, AR, FL, GA, LA, TN] Iberia Bank $200 Business Checking Bonus

Update 12/3/19: Deal is back and valid until December 23rd, 2019. Hat tip to Craig J

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: AL, AR, FL, GA, LA, TN. Must live within 60 miles of a branch to open online, otherwise you need go to in branch to open.
  • Direct deposit required: No
  • Additional requirements: Use promo code & 15 transactions
  • Hard/soft pull: Soft pull 
  • ChexSystems: Yes
  • Credit card funding: Up to $500
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None
  • Expiration date: August 31st, 2019 December 23rd, 2019

The Offer

Direct link to offer

  • Iberia Bank is offering a bonus of $200 when you open a new business checking account and complete the following requirements:
    • Use promo code EARN200
    • Make 15 client-initiated debit transactions within 90 days (use your debit card, write a check, or use Online Banking with Bill Pay)

The Fine Print

  • To qualify to earn a $200 business checking cash bonus: $200 bonus will be credited to the new account within 105 days when a minimum of 15 client-initiated debit transactions occur (use your debit card, write a check, or use Online Banking with Bill Pay) within the first 90 calendar days of account opening.
  • Limit of one $200 bonus per business.
  • Bonus not considered part of the minimum opening deposit and certain business checking accounts require a minimum opening deposit of $100. I
  • f the new business checking account is interest bearing, refer to the Rate and Fee Schedule for the annual percentage yield applicable to your account.
  • Offer is not available to clients that have previously held a business checking account at IBERIABANK.
  • New account must have a positive balance up to and including the day of the cash bonus payout.
  • Public Fund, Brokerage or Institutional entities and IBERIABANK Corporation associates with businesses are not eligible for this offer.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Iberia Bank offers a free business checking account with no monthly fees to worry about.

Early Account Termination Fee

As far as I know there is no early account termination fee

Our Verdict

Currently there is also a $350 personal checking bonus. As far as I know we’ve never seen a business checking bonus from Iberia. Not sure what sort of business documents they require, but if you’re a business this looks to be an easy bonus to meet the requirements for. I’ll be adding this to our best business checking bonus page. Remember to share your experiences with this bonus in the comments below.

Hat tip to reader Brian C

Useful posts regarding bank bonuses:



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MaryD
MaryD

.

Brian C
Brian C

William Charles the personal checking account bonus is actually $400 not $350.

vince
vince

Targetted location may have changed. When you click on “open now” it says:

Thank you for choosing IBERIABANK. We welcome business owners of Louisiana, Arkansas, Tennessee, Alabama, Texas, Georgia, Florida, New York, North Carolina and South Carolina states to apply.

Mimi
Mimi

Below is the link to list of required business documentation they ask to be uploaded prior to account approval:
https://umnasg16.umonitor.com/iberiabank/OAOSB Req LBD.PDF

Kelly
Kelly

I don’t see anything on the state of GA for sole prop. I guess I’ll be the data point I want to be.

Kelly
Kelly

DP: I applied since there was no mention of needing any documentation if a resident of GA. After pointing out to the rep that this was not listed on the documents needed here is the response I received.

I completely understand that Georgia is not listed on that document. My supervisor is actively updating it now. Unfortunately, in instances like these, we must get approval from the branch since they are in charge of the account after the application process. All of our Georgia branches require the Assumed Name/DBA Certificate. I will not be able to proceed without one.

Any advise? Should I even bother with getting a DBA certificate? I do have a legit side hustle charging scooters. Wells Fargo didnt ask for any documents when I applied with them and was approved. Pros cons of doing this?

Brian C
Brian C

This is the full link since the one above is not working, for required documents.

https://umnasg16.umonitor.com/iberiabank/OAOSB%20Req%20LBD.PDF

J
J

The list of required documentation does not include New York, but I can confirm that they require business documents if opening from New York.

hood
hood

I tried to get this. I got close but the “agent” kept moving the goal post. Wanting documentation that wasn’t outlined in the original application. Things like, documenting my real estate holdings, documenting all my sources of income, documenting my number of customers, etc…finally I told them to go pound sand.

SA
SA

Anyone in Texas opened as Sole Prop? Did they ask any documents?

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