IBERIABANK has a great offer for new customers who open a checking account and it doesn’t require direct deposit. Before you keep reading, I must tell you that the offer is available only in the following states; AL, AR, FL, GA, LA, TN, & TX.
You will get the $300 when you open a High Interest Checking Account with promo code GET300 and complete 15 qualifying transactions within the first 90 days. There’s a $100 minimum opening deposit that be new money not currently held by IBERIABANK.
$300 bonus will be credited to the new checking account within 105 days when a minimum of 15 client- initiated debit transactions occur (use your debit card, write a check, or use Online Banking with Bill Pay). Bonus will be deducted if account is closed within 6 months.
Limit one $300 bonus per household.
There’s also a Savings account bonus of $100 that requires you to keep $5000 in the account for 6 months as well. This is probably not worth it for most people, so I won’t go into details.
If you’re wondering why it’s called, a High Interest Checking Account, it’s because it offers a whopping 0.05%.
The High Interest Checking Account has a $20 monthly fee. It can be waived with a balance of $5000 in the account.
Offers are only available to clients who have not received any cash or cash equivalent bonus from IBERIABANK in the past for the same product type.
- Apply Online (Promo code GET300)
- Account Type: High Interest Checking
- Availability: AL, AR, FL, GA, LA, TN, & TX
- Credit Card Funding: No
- Expiration Date: 3/31/2016
- Hard Inquiry: Soft pull
- Direct Deposit Requirement: No
- Other Requirements: 15 transactions in 90 days
- Monthly Fee: $20 (Waived with $5,000 balance)
- Closing Account Fee: None (Must keep account open for 6 months to receive bonus)
If I was in one of the lucky states I would go for the bonus. $300 checking bonuses are rare and requirements for the bonus are pretty easy to fulfill. The only issue is the $20 monthly fee, but even if you pay it, you’ll still come out ahead. If you deposit $5,000 and keep it in the account the fee is waived, but if you were earning 5% on that money then you’re losing out a bit less than $20 interest monthly. If you’re earning less than 5% then use that money to keep this account fee free. If you do decide to pay the monthly fee, try to have it waived once or twice in the beginning.