[AL, AR, FL, GA, LA, TN] IBERIABANK $400 Checking Bonus For First Responders

Offer at a glance

• Maximum bonus amount: $400
• 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. Must also be a first responder
• Direct deposit required: Yes, $500+
• Additional requirements: See below
• Hard/soft pull: Soft pull 
• ChexSystems: Yes
• Credit card funding: Up to $500
• Monthly fees: $8-$20
• Early account termination fee: Six months, bonus forfeit
• Household limit: One
• Expiration date: None listed

The Offer

Direct link to offer

• Iberia Bank is currently offering two checking bonuses for first responders:
  • $250 bonus:
    • Open a new Freedom checking account  ($50 minimum opening balance) with promo code STACK
    • Receive $500 or more of combined direct deposit per statement cycle within 60 days of account opening
  • $400 bonus:
    • Open a new high interest checking account ($100 minimum opening balance) with promo code STACK
    • Maintain a daily minimum balance of $5,000 or more
    • Receive $2.000 or more of combined direct deposit per statement cycle within 60 days of account opening

The Fine Print

• Offers only available to full-time employees in healthcare, fire, police or Paramedic/EMT services within IBERIABANK’s geographic footprint, and are not available to clients or households who have previously had an account at IBERIABANK. Proof of employment may be required.
• Offers may not be available in all states.
• Offer is subject to change without notice.
• Offer may not be used in conjunction with any other personal deposit offer.
• Limit one cash bonus per household.
• Cash Bonuses will be credited to the new checking account within 100 days from account opening if all checking requirements have been completed.
• To the extent required by law, IBERIABANK may report the value of the offer to the IRS on a Form 1099.
• New accounts must have a positive balance up to and including the day of the cash bonus payout.
• If your new checking account is closed within the first six months, the earned bonus will be deducted at account closing.
• Direct deposit is defined as an electronic deposit of a paycheck, pension, or government benefits (such as Social Security) from an employer or the government.
• Monthly service charges may apply; review account terms for details. Trust or Fiduciary relationship checking accounts 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

Freedom Checking $8/$10 ($250 Bonus)

The monthly fee on this account is waived if you do any of the following:

• Maintain a minimum daily balance of $1,000 or more
• Or, combined monthly direct deposits of $500 or more
• Or, you are a student with e-statements*
• Or, you are a small business owner* and have an IBERIABANK small business checking account

The monthly fee is $8 with eStatements or $10 with paper statements.

High Interest Checking $20 Monthly Fee ($400 Bonus)

The $20 monthly fee on this account is waived if you do any of the following:

• Maintain an average monthly balance of $5,000 or more
• Or, combined monthly average collected balance of $25,000 in any personal deposit account;
• Or, an outstanding principal balance of $25,000 in any personal loan accounts;
• Or, you are a small business owner and have an IBERIABANK small business checking account*

Early Account Termination Fee

Account needs to be kept open for six months otherwise the bonus is forfeit.

Our Verdict

They have previously offered this to everybody, not just first responders with an additional savings bonus. This is still definitely worth doing, let’s hope a more public version of this offer comes out again at some stage. I’ll add this to our best bank bonus page.

Hat tip to Christopher Robin

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