Fidelity Bank's $225 Checking Bonus: A Straightforward Deal for Louisiana Residents

If you're in Louisiana and looking for a simple bank bonus without a ton of hoops, Fidelity Bank has a promotion worth a look. It's a classic checking account offer: open an account, set up a direct deposit, and get a cash reward. The $225 is a solid amount for the effort, especially since the direct deposit requirement isn't astronomical. Let's break down what you need to know to grab this bonus and keep the account fee-free.

How to Snag the $225

The process is pretty linear. First, you need to open the 'On The Geaux' checking account. According to the bank's terms, you must use the promo code BONUS225 if applying online, or mention it if you visit a branch. You'll need to fund the account with at least $50 to get it started.

Once the account is open, the clock starts ticking. You have 90 calendar days to get a qualifying direct deposit of $500 or more posted to the account. This is the only real 'work' involved. After that 90-day window closes and you've met the requirement, the bank says they'll deposit your $225 bonus within 15 business days. Just make sure the account stays open and in good standing (meaning a positive balance) until the bonus lands.

Understanding the 'Qualifying Direct Deposit'

This is the most important part, and the bank's terms are specific about what counts. They're looking for a recurring electronic deposit from an employer or government agency. Think your regular paycheck, Social Security, pension, or similar recurring benefit payments.

What definitely won't work? This is crucial. Transfers from another bank account (like an ACH push from your main bank), deposits you make at an ATM or branch, mobile check deposits, and payments from apps like PayPal, Venmo, or Cash App are explicitly excluded. If your employer uses a third-party payroll service (like ADP or Gusto), that should be fine, as it's still an electronic deposit from your employer.

• DOES COUNT: Payroll, pension, Social Security, other government benefits.
• DOES NOT COUNT: Peer-to-peer app transfers (PayPal, Cash App, etc.), ATM deposits, wire transfers, ACH transfers you initiate from another bank.

Keeping the Account Fee-Free

The On The Geaux account has a $5 monthly service fee. The good news is, the same action that gets you the bonus also keeps the fee at bay. If you have at least one direct deposit of $500 or more during a statement cycle, that month's fee is waived.

So, if you plan to use this as a secondary account just for the bonus, you'll want to either keep that direct deposit flowing each month or remember to close the account after you get the bonus and any required holding period to avoid fees. Just be sure there are no early closure fees—the terms don't mention one, but it's always smart to double-check the account agreement when you open it.

Practical Points to Consider

This offer has some clear boundaries. It's only for Louisiana residents, as Fidelity Bank's branches are located there. It's also exclusively for brand-new personal checking customers. If you've ever had a Fidelity Bank checking account before, you won't qualify.

Since you're opening a new bank account, they will likely check your banking history through ChexSystems. A hard credit pull is less common for basic checking accounts but not impossible. Be prepared for that possibility.

Finally, remember that the bank will report the $225 bonus as interest income on a 1099-INT form. You are responsible for including this in your tax return for the year you receive it.

Bottom Line

• A $225 bonus for a $500 direct deposit is a strong 45% return on that deposit, making it a worthwhile effort for eligible Louisiana residents.
• The key to success is ensuring your direct deposit meets the bank's strict definition; standard ACH transfers from another of your accounts will not work.
• Plan your account funding and direct deposit timing carefully to meet the 90-day deadline and to avoid the $5 monthly fee.

Common Questions