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
Contents
The 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
- 15 qualifying transactions within 90 days of account opening. Qualifying transactions are:
- 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.
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:
- PSA: Don’t Call The Bank
- Introduction To 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?
This deal is back on, expires December 1st, $500 DD required. Just finished closing an account for a $300 bonus at another bank that required me to keep 5k in there to avoid fees, and just moved it straight into this one. I bet they will extend it again
https://www.doctorofcredit.com/al-ar-fl-ga-la-tn-tx-iberiabank-300-checking-account-bonus/
I’ve come across a flyer from this bank regarding a $300 bonus with promo code: EARN300 which expires 12/1/2017. Terms are the same as the one posted by NN except for the public bonus code instead of requesting one via email.
new offer
https://www.iberiabank.com/300/
this one requires direct deposit
Thanks, will post soon.
Just received a 1099-misc form instead of 1099- int for the $300 bonus last year. Is that normal for bank bonuses?? Why would I owe self employment tax on a bank bonus?
Nevermind found out box 3 of 1099-misc is not considered self employment income.
I guess the $50 savings bonus is a no-go?
has anyone got the $50 bonus for the savings yet? if yes, by what methods of communication? mine’s still being reviewed & has taken a while despite follow-ups
got the $50 bonus after appealing my case on twitter
Dan,
Can you give more information on how you got them to finally cave into giving you the $50.00
wish that DOC still made all the replies & new posts auto pushed to us subscribers, whereby it would have been much easier & quicker to be communicative & informative
Yeah, we’re trying to get this up and running again. Blame WP Engine.
Hmmm – was told to call a promotions bank online number to confirm bonus etc.. and the gal looked me up and said that it was coming this week (has been over 105 days since all reqs were met) – so we shall see if they are telling truths or not by the end of the week.
what # did u call, AE? plz post the outcome. i almost forgot about this; need to get back to it
I was told that a Beth _____? Was actually the only one who knew what was going on with promotions and had the answers and they she would be contacted about my account.
The normal bank direct contact folks have no power and have no idea.
Bonus was not credited within 105 days and not by today as was preciously stated by the last rep in bank direct that I spoke with..
Please contact a branch or the direct bank department (if the account was opened online) at 888-777-7145
I do not see that the bonus has been placed in your account, as of yet. To discuss this further and check on the status of it, please contact our Direct Bank department, as they are the department that the account was opened through. Their number is 888-777-7145.
However – no one there understands why it has not credited – so it needs to go up the ladder.
Go straight to corporate and also twitter and have your facts ready – they encouraged checking account holders to apply for it and you had not earned a bonus when you signed up for savings (if that is true).
I had not received any other bonus when I applied for the savings GET 50 promo code… not my fault that they sent me the Get300 bonus first. This bank has been a pain from day one – I’ll make them work to weasel their way out of their offer.
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.
OPEN NOW!
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.
The local banker replied to my inquiry for the $50 bonus as this:
‘Please find attached which explains why have you not received your $ 50.00 bonus for the savings account. It says you cannot received it if you have Cash or Bonus received in past 12 months’
feel that I didn’t receive any bonus other than the checking acct that must be open first before getting targeted for the savings bonus, right? How do we challenge this?