Posted by William Charles on February 4, 2016
Bank Account Bonuses

Published on February 4th, 2016 | by William Charles


[Expired][AL, AR, FL, GA, LA, TN, & TX] IBERIABANK $300 Checking Account Bonus + $100 For Savings. No Direct Deposit Requirement

This offer has expired, view the best checking sign up deals by clicking here.

Offer at a glance

  • Maximum bonus amount: $300 for checking + $100 for savings
  • 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: None
  • Additional requirements: 15 transactions (debit, bill pay or check)
  • Hard/soft pull: Soft pull 
  • ChexSystems: Yes
  • Credit card funding: None
  • Monthly fees: $20, waiveable 
  • Early account termination fee: Bonus forfeit on savings & checking account if closed within 6 months
  • Expiration date: March 31st, 2016

The Offer

Direct link to offer

  • Receive a bonus of $300 when you open a High Interest Checking Account (minimum opening deposit of $100) and complete the following requirements:
    • 15 qualifying transactions within 90 days of account opening. Qualifying transactions are:
      • Use your debit card
      • Write a check
      • Use Online Banking with Bill Pay
    • Use the promotional code GET300
  • Receive a bonus of $100 when you pair your new checking account with a High Interest Money Market and complete the following requirements:
    • Maintain a daily minimum balance of $5,000 for the first 90 days
    • Use the promotional code GET100
  • Receive a bonus of $50 when you open a new Statement Savings account with an opening balance of at least $50. Account needs to be kept open to receive the bonus. This offer will usually appear after you set up the checking account and then log out of your account. More information here.

iberia bank

The Fine Print

  • The primary signer must be a new consumer checking client opening a new High Interest Checking account with new money not currently held by IBERIABANK
  • $300 bonus will be credited to the new checking account within 105 days of meeting the requirements.
  • New account must have a positive balance up to and including the 90th day
  • Limit one $300 bonus per household
  • If your new money market account is closed within the first six months, the earned bonus will be deducted at account closing
  • Bonus will be deposited into the new High Interest Money Market account within the first 105 days of account opening if all requirements are met
  • Limit of one $100 bonus per household in a 12-month period, and primary signer must be a new client to IBERIABANK
  • 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*

High Interest Money Market $20 Monthly Fee

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

  • Maintain an average daily balance of $5,000 or more

Statement Savings account $3 Monthly Fee

This account is needed if you’re targeted for the $50 savings bonus. To avoid the $3 monthly fee you need a minimum balance of at least $200.

Business Checking No Monthly Fee + Waives Personal Monthly Fee

They also offer a free business checking account, this waives the monthly fee on the personal account as well.

Our Verdict

Let’s tackle the $100 savings bonus first. You need to keep $5,000 invested for six months to keep the account fee free and to get the bonus. This account earns 0.05% APY, you should be able to easily beat that by at least ~1% APY. Meaning you’re basically losing out on $25 in interest. If you’re getting 5% APY then you’re losing more like $125, since the bonus is only $100 this is a pass for me.

Now let’s look at the checking account, you’ll need to keep the account open for at least six months and the easiest way to keep it fee free is with a $5,000 balance (APY is also only 0.05%), meaning you’d be losing out on ~$25 in interest. Given that the bonus is for $300 and there is no direct deposit requirement this is well worth doing if there is no hard pull. Alternatively you could open a business checking account to keep the personal account fee free. The $50 savings bonus is also probably worth doing if you’re targeted as you just need to park $200 in funds there to receive the bonus.

If anybody does this bonus, please share your experiences in the comments.

Useful posts regarding bank bonuses:

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Just completed the checking account online. Account cannot be funded with credit card. Must use ACH pull from another checking or savings account.


It is soft or hard pull. Can you confirm plz. Thanks


Positive it’s a soft pull. Open account and check my credit report, nothing appears.


“You work hard for our money” = amusing typo?


Haha that is a hilarious typo. Literally the worst thing a bank could say.


I’m going to give this a try, but I’ll open a small business checking account to avoid the fees b/c I’ve been meaning to open one anyway, and they have a free one.

This small scale reselling business of mine is handy. Not that much profit but it lets me get business cc’s and business bank accounts for bonuses!

Thanks for the tidbit brteacher. Disappointing but I can’t complain.


interesting, its tempting cause finally another TX bank bonus but really dont wanna park $5k in here for a few months.

so the other option it looks like in the fine print is to first get a small business owner checking acct. there are some fee-free options (wish these had bonuses too) … but not sure which one counts or it doesnt matter as long as its one of the SBO checking accts.

then based on that, you can open a high interest checking acct for the $300 bonus. wonder if there is a waiting period or if it can be done instantly?


Excellent Find William – Your website is by far the most detailed of it’s ilk – Really like the ‘review’ portion of your posts and math percentages etc…

Is there anything that we can click for you etc..or links to visit to say thank you?


Sounds like they got inundated with applications last night after you guys posted this. Anyone who applied should expect to get a call from them to verify that you actually applied–they appear to be concerned that there’s some sort of botnet or something trying to steal people’s identities.

Good work on mobilizing so many people at once that a smaller bank gets alarmed, guys!

As a reminder, never give out personally identifying info to someone claiming to be a bank rep on an inbound call. Tell them you’ll call back.


I just opened an account in branch and it was a soft pull

John Adams
John Adams

This just in, guys.

Earn a $50* CASH BONUS
When you open a new Statement Savings account.

Available to both consumer and businesses,
this savings account features low balance requirements
and allows you to earn a nice return on your money.
Earns a competitive rate of interest
Low monthly service charge
Low balance requirements
$50 minimum deposit to open
Plus, even more complimentary services

Get to your goal even faster.
Set up automatic transfers from your checking.

Use Promo Code GET50

*To qualify for the $50 bonus:
The primary signer must be an existing client opening a new Statement Savings account with new money not currently held at IBERIABANK. Clients with existing Statement Savings accounts are ineligible for this offer. The account must be open for 90 days and the $50 bonus will be credited to the new savings account within 105 days from account opening if all requirements are met. Bonus not considered part of the $50 minimum opening deposit. A minimum balance of $0.01 is required to obtain the stated Annual Percentage Yield (“APY”). An interest rate of 0.05% will be paid on all balances and all tiers. The APY for all tiers is 0.05%. APY is variable, accurate as of 2/1/16, and is subject to change after account opening. Statement Savings account uses a tiered interest rate structure based on daily collected balance in the account. If your new savings account is closed within the first six months, the earned bonus will be deducted at account closing. Offer is available only to clients who have not received any cash or cash equivalent bonus from IBERIABANK in the past 12 months. Trust or Fiduciary relationship checking accounts are not eligible for this offer. When applying for these offers online, the promo code must be used to qualify for bonus. Fees are subject to change and may reduce earnings. Refer to the most current Rate and Fee Schedule for more information. To the extent required by law, IBERIABANK may report the value of the offer to the IRS on a Form 1099. Offer subject to change without notice.

All products subject to approval, including credit approval.


It`s says there that non US citizen must apply in branch. Is this actually verified ? I have green card but hate these stupid conditions ..




Correct me I am wrong, but a return of $300 on a deposit of $5000
is a return of approximately 12% for a six month deposit. If I
am correct, you can not beat a deal like this. I figure 5000@10%=$500 for
1year. 500/12=$41.66 interest per month. $41.66 X6=$250. But you
are getting $300 and not $250.00. If anyone come up with a different return
please post.

John Adams
John Adams

you are correct. remember to take some off for taxes.


You’re right, but there’s no guessing if you do the math in the reverse order.
$300 bonus for 6 mo = $50/mo, which is 1% of $5000. 1% a month is 12% APY. Definitely a sweet deal. Time to contact my cousin in FL.


Darn. My cousin already banks with Iberia. 🙁



Doesn’t a $100 bonus
Works out to a 4% APR
For six months. William
Is using a 5%APR in this
Example. If anyone knows a Bank that is giving a 5%APR on a $5000 deposit for 12 months please let me know.


That being said, as mentioned in this post and on the bank site, the checking bonus posts within 105 days. The bank wording is vague and I’m not convinced whether its 105 days after opening or after the 15 debit charges (not a big difference assuming one does the 15 swipes ASAP). No mention of a 6 month minimum account age.
Even higher APY for a 4 month timeframe. And higher yet if you delay the $5k funding because fees are usually waived the first month. 🙂



Thanks for confirming my comments on this offer, which should help those people who were not aware of the correct APY being paid on this account. I like your idea of the delaying the 5k funding. I will be opening my account next week, and will post any further info on this offer.


“If your new checking account is closed within the first six months, the earned bonus will be deducted at account closing.”

Also states you need to keep the checking open for six months, you state atleast 4 months.


I live in El Paso, which is too far away for me to ever go to a branch, but still in Texas. Can I still get this?


I’m going for this one…

I’m going to ACH $5015 and since you get a free box of checks I’m going to write fifteen $1 checks to trigger the bonus requirement. This is to avoid any confusion about the definition of “use your debit card”…

After the 15 checks I’ll have a balance of $5k so no service charges and will consider it a 12% six month CD.


while the term states only 1 bonus / household, any of u folks in the past did get more than 1 bonus from a spouse or family member with the same address?


Today I opened both Business Checking and High Interest Personal Checking a/c’s and both the accounts are free since personal is attached to business and business a/c comes as free by itself (no need to maintain any balance in both the a/c’s). It’s a soft pull from Chex Systems/Experian.

William, for your question on where the $50 Savings account bonus pops up….it pops up after logout from your online banking.

I would suggest our folks to make use of this easy bonus before they bring it down. Good Luck!


does the free biz checking acct. require a minimum funding / deposit? TIA


I believe you’ve open the account with $100 opening deposit, which you can take back after a day and there’s no minimum balance or direct deposit req.

Good Luck!

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