IBERIABANK has a bonus offer for new customers who open a checking account. You can earn a $200 or $350 bonus if you are in AL, AR, FL, GA, LA, TN, & TX, but the offer could be targeted.

Bonus & Requirements

• To qualify for $200 Cash Bonus:
  • Use Promo Code EARN 200 when opening online.
  • Open a new Freedom Checking account with a minimum $50 deposit balance with new money not currently held by IBERIABANK
  • Have $500 or more of combined direct deposit per statement cycle made to this account within 60 days of account opening.
• To qualify for $350 Cash Bonus:
  • Use Promo Code EARN 350 when opening online.
  • Open a new High Interest Checking account with a minimum $100 deposit balance with new money not currently held by IBERIABANK;
  • Maintains a daily minimum balance of $5,000 or more; AND
  • Have $500 or more of combined direct deposit per statement cycle made to this account within 60 days of account opening.

Eligibility

Offer available in AL, AR, FL, GA, LA, TN, & TX.

Limit of one cash bonus per household in a 12-month period. Offer is not available to clients whose accounts have been closed within 90 days or closed with a negative balance.

Offer only available to the recipients of the mailer. This is probably not enforced, but you should check before applying. Mimi confirms in comments that she was told via chat that only those who received mailer with get the bonus.

Fees

Both accounts required for the bonuses come with monthly fees:

• The Freedom Checking account has a $10 monthly fee. It can be waived with a balance of $1,000 in the account.
• The High Interest Checking Account has a $20 monthly fee. It can be waived with a balance of $5,000 in the account.

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

Guru’s Wrap-Up

The bonus was better when it didn’t require a direct deposit, but it still a large bonus that’s worth doing if you’re in one of the lucky states and were targeted. However, last time they offered this bonus there were some issues with funding the account online which made it hard to have a balance of $5,000 that is required for the $350 bonus. It might be better to go into a branch to do this, if you have one nearby. Let me know if you have any experience with this bank. The bonus is targeted, so you must have received a mailer to qualify.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

Offer Details

• Apply Online
• Bonus: $200/$350
• Account Type: Freedom Checking or High Interest Checking
• Availability: AL, AR, FL, GA, LA, TN, & TX
• Credit Card Funding: No
• Expiration Date: 6/15/2018 1/15/2019
• Hard Inquiry: Soft pull
• Direct Deposit Requirement: $500 within 60 days
• Other Requirements: Maintain daily limit of $5,000 for $350 bonus
• Monthly Fee: $10/$20 (Waived with $1,000/$5,000 balance)
• Closing Account Fee: None (Must keep account open for 6 months to receive bonus)

HT: DoC

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