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
View Comments (2)
Looks like the only branches are in South Dakota
Yes, this bonus is for the Heartland State Bank in South Dakota and not the Heartland Bank in Iowa. Seems @will has a mix of the two different banks. The Direct link to the offer is correct but the Branch locations link goes to an error page.
Also looks to be by referral from an existing account holder (where the account holder can get $100 also) and has a $50 minimum to open among other differences.