Update 4/25/20: Deal is back but it’s now a referral offer and both parties get $100 each. Obviously not worth going in branch at the moment due to COVID-19.
Offer at a glance
- Maximum bonus amount: $100
- Availability: In branch only, all branches are in IA
- Direct deposit required: Yes, $100+
- Additional requirements: None
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $3.95
- Early account termination fee: Unknown
- Household limit: None
- Expiration date: September 7th, 2017
The Offer
- Open a personal or business checking account with Heartland Bank and receive a bonus of $100 when you do the following:
- Receive a qualifying direct deposit within the first 60 calendar days of account opening
The Fine Print
- Checking Accounts – minimum to open $1.
- To qualify for the $100 gift you must open a qualifying HB checking account with direct deposit (i.e. payroll, Social Security, pension) of $100 or more processed within 60 calendar days of account opening. Within 10 business days after your initial direct deposit is posted to your account the bank will deposit your $100 gift into your account.
- Limit one checking account-related gift per calendar year.
- Checking account must remain open for a minimum of six months or the $100 gift will be debited from the account at closing. Account is subject to approval. $100 gift is considered interest and will be reported on IRS from 1099-
INT. - Free business generic endorsement stamp only available on qualifying business account.
- $100 gift is a limited time offer and subject to change.
- Do not need to open an account to be fentered into the grand prize drawing and $50 gift card drawing – just stop by any local branch to drop off or fill out the entry form.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Classic checking account has $3.95 fee that can be avoided if you do all of the following:
- Enroll in our e-Statements receive monthly statements via online
- Maintain a valid email address
- Make at least 5 Debit Card transactions per statement cycle to avoid $1.95 fee
I wasn’t able to find a fee schedule so I’m unsure if an early account termination fee is charged or not.
Our Verdict
Not the best bonus considering it’s only $100, needs to be opened in branch, direct deposit is required and it isn’t super easy to keep the account fee free. Might be worth considering if you live close to a branch and it’s a soft pull and if you’ve already done all the better bonuses in your area.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
