[Expired] [AL, AR, FL, GA, LA, TN] IBERIABANK $600 Checking/Savings Bonus

Deal has expired, view more bank account bonuses by clicking here

Update 2/23/20: Deal has been renewed. Valid through March 13, 2020. Hat tip reader JC and Christian

Update 11/16/19: Deal has been extended until December 23rd, 2019.

Update 9/29/19: New bonus has been added, this time you can get $150 for opening a savings account and an additional $50 if you do both savings & checking bonus

Update 7/2/19: Deal has been increased to $250/$400, up from $200/$350. Also extended until September 20th, 2019.

Update 6/17/19: Deal is back and valid until 07/31/19. Doesn’t look like it’s targeted anymore as it says nothing about having to have received a mail piece. Hat tip to reader Iron_Tampa

Update 2/13/19: Deal is back again and valid until March 29th, 2019. I’ve removed TX as an available state as people always seem to have issues from there. Hat tip to reader Jeff.

Update 08/19: Offer is back again and valid until September 30th, 2018. Hat tip to reader Lisa.

Update 07/26/18: Deal is back and valid until August 30th, 2018.Hat tip to reader Jonflow

Offer at a glance

• Maximum bonus amount: $600
• Availability: AL, AR, FL, GA, LA, TN. Must live within 60 miles of a branch to open online, otherwise you need go to in branch to open.
• Direct deposit required: Yes, $500+
• Additional requirements: See below 
• Hard/soft pull: Soft pull 
• ChexSystems: Yes
• Credit card funding: Up to $500
• Monthly fees:
• Early account termination fee: Six months, bonus forfeit
• Household limit: One
• Expiration date:August 30th, 2018 September 30th, 2018 March 29th, 2019 July 31st, 2019 September 20th, 2019 November 15th, 2019 March 13, 2020

The Offer

Direct link to offer | New link

• Iberia Bank is currently offering two checking bonuses:
  • $250 bonus:
    • Open a new Freedom checking account  ($50 minimum opening balance) with promo code STACK
    • Receive $500 or more of combined direct deposit per statement cycle within 60 days of account opening
  • $400 bonus:
    • Open a new high interest checking account ($100 minimum opening balance) with promo code STACK
    • Maintain a daily minimum balance of $5,000 or more
    • Receive $2.000 or more of combined direct deposit per statement cycle within 60 days of account opening
• You can also get a $150 bonus when you open a new statement savings account and maintain a balance of $15,000 for 90 days with promo code STACK
• If you complete both a checking & savings bonus you’ll earn an additional bonus of $50

 

The Fine Print

• All products and services are subject to approval, including credit approval.
• Offers end 11/29/19 and are not available to clients or households who have previously had an account at IBERIABANK.
• When applying for these offers online, the promo codes must be used to qualify for the cash bonus.
• Cash bonuses will be credited to the new checking or savings account within 110 days from account opening if all requirements have been completed.
• New accounts must have a positive balance up to and including the day of the cash bonus payout.
• If your new checking or savings account is closed within the first six months, the earned bonus will be deducted at account closing.
• You can receive only one new checking and one new savings account opening related bonus per household.
• Direct deposit is defined as an electronic deposit of a paycheck, pension, or government benefits (such as Social Security) from an employer or the government.
• Monthly service charges may apply; review account terms for details. Trust or Fiduciary relationship checking accounts are not eligible for this offer. To the extent required by law, IBERIABANK may report the value of the offer to the IRS on a Form 1099.
• Mobile Banking services require enrollment in IBERIABANK Online Banking.
• Mobile carrier’s text messaging and web access charges may apply. Mobile deposit limitations apply.
• To qualify for $250 Cash Bonus: Primary signer must be a new checking client to IBERIABANK who (1) Opens a new Freedom Checking account with a minimum $50 deposit balance with new money not currently held by IBERIABANK; (2) Has $500 or more of combined direct deposit per statement cycle made to this account within 60 days of account opening; AND (3) Account remains active for at least six months.
• To qualify for $400 Cash Bonus: Primary signer must be a new checking client to IBERIABANK who (1) Opens a new High Interest Checking account with a minimum $100 deposit balance with new money not currently held by IBERIABANK; (2) Maintains a daily minimum balance of $5,000 or more within 10 days of account opening; (3) Has $2,000 or more of combined direct deposit per statement cycle made to this account within 60 days of account opening; AND (4) Account remains active for at least six months. Annual Percentage Yield (APY) is 0.05% on balances $5,000–$9,999.99; 0.10% on balances $10,000–$24,999.99; 0.13% on balances $25,000–$49,999.99; 0.15% on balances $50,000–$99,999.99; 0.25% on balances $100,000–$249,999.99; 0.30% on balances $250,000+. A minimum balance of $5,000 is required to obtain the APY disclosed. APY is variable, accurate as of 09/05/19, and is subject to change after account opening. Fees may reduce the earnings on the account. Safe Deposit Box: No charge for the first year; 50% discount for each year thereafter with auto draft.
• To qualify for the $150 bonus: The primary signer must be a new consumer savings client to IBERIABANK who 1) Opens a new Statement Savings account with a minimum $50 deposit balance with new money not currently held by IBERIABANK; AND 2) Deposits and maintains a daily minimum balance of $15,000 or more within 10 days of account opening for 90 days from the date of deposit. A minimum balance of $.01 is required to obtain the stated Annual Percentage Yield (APY). An interest rate and the APY of 0.05% will be paid on all balances and all tiers. APY is variable, accurate as of 09/05/19, 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.
• To receive the extra $50: You must complete all requirements for BOTH the checking and savings bonus. After you have completed all requirements, we will deposit the remaining bonus due in your checking account within 10 business days.

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.

Freedom Checking $8/$10 ($250 Bonus)

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

• Maintain a minimum daily balance of $1,000 or more
• Or, combined monthly direct deposits of $500 or more
• Or, you are a student with e-statements*
• Or, you are a small business owner* and have an IBERIABANK small business checking account

The monthly fee is $8 with eStatements or $10 with paper statements.

High Interest Checking $20 Monthly Fee ($400 Bonus)

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*

Our Verdict

There is no longer any targeted language, so that’s great. This is the biggest offer we’ve seen from Iberia Bank, sometimes we see the checking bonuses being available but we’ve never see the combo bonus of up to $600 before. I definitely think this bonus is worth doing if you’re eligible, so I’ll be adding this to the best bank bonuses.

Big thanks to reader, newbie who let us know. Learn how to find bonuses and contribute to the site here.

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