[Expired][AL, AR, FL, GA, LA, TN, & TX] IBERIABANK $300 Checking Account Bonus

This bonus has expired, but plenty of other great checking bonuses. Click here to view the best ones still active.

Offer at a glance

Maximum bonus amount: $300
Availability: AL, AR, FL, GA, LA, TN, & TX. Must live within 60 miles of a branch to open online, otherwise you need go to in branch to open
Direct deposit required: Yes, $500+
Additional requirements: Maintain minimum balance of $5,000 or more
Hard/soft pull: Soft pull
ChexSystems: Yes
Credit card funding: Up to $500
Monthly fees: $20, waiveable
Early account termination fee: Six months, bonus forfeit
Household limit: One
Expiration date: December 1st, 2017

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Early Account Termination Fee
- 3.2 High Interest Checking $20 Monthly Fee
4 Our Verdict

The Offer

Direct link to offer

IBERIABANK is offering a bonus of $300 when you open a new High Interest Checking account and complete the following requirements:
- Maintain a daily minimum balance of $5,000 or more
- Receive $500 or more of combined direct deposits per statement cycle within 60 days of account opening

The Fine Print

How to qualify for $300 Cash Bonus: Primary signer must be a new checking client to IBERIABANK who 1) Opens a new High Interest Checking account with new money not currently held by IBERIABANK; 2) Maintains a daily minimum balance of $5,000 or more; AND 3) Has $500 or more of combined direct deposit per statement cycle made to this account within 60 days of account opening. Direct deposit must be an electronic deposit of a paycheck, pension, or government benefits (such as Social Security) from an employer or the government.
$300 bonus will be credited to the new checking account within 90 days from account opening if the above checking requirements have been completed.
Limit of one cash bonus per household in a 12-month period.
Offer is not available to clients that have previously held an account at IBERIABANK.
Trust or Fiduciary relationship checking accounts are not eligible for this offer. If your new checking account is closed within the first six months, the earned bonus will be deducted at account closing.
Offer ends 12/1/17.
A minimum balance of $5,000 is required to obtain the Annual Percentage Yield (APY) disclosed. APY is variable, accurate as of 9/6/17, and is subject to change after account opening. To the extent required by law, IBERIABANK may report the value of the offer to the IRS on a Form 1099. Monthly service charges may apply – review account terms for details.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Early Account Termination Fee

Money market needs to be kept open for six months to avoid any fees as far as I can see there is no minimum requirement for the checking account.

High Interest Checking $20 Monthly Fee

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*

Our Verdict

Previously this bonus was much better, you could get $300 for opening the checking account without a direct deposit and you could get another $100 for opening a savings account and depositing $5,000. Now you need to deposit and maintain $5,000 and receive a direct deposit for a bonus of only $300. It’s still a good bonus compared to other bank account bonuses, but compared to bonuses IBERIABANK has offered it’s not very competitive. Because of that I won’t be adding it to our best bonus page.

Big thanks to reader, NN who let us know. Learn how to find bonuses and contribute to the site here.

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