The Iron Bank Contract is awarded to the winner of several rounds of trivia, held annually at PromoMania. The winner is able to use the contract to cash in and challenge the Knowledge Champion any time they choose twelve months after the activation date a week later. The most recent holder is Mike Larkin, who won on the PromoMania V countdown show. His contract was activated on April 6th, 2020.

In 2021, the Iron Bank contract became eligible for both the Knowledge and the Promo Championships, but must still be won via trivia.