Offer at a glance
- Maximum bonus amount: $500
- Availability: Nationwide
- Direct deposit required: None
- Additional requirements: Deposit $50,000 in new to Citibank funds and maintain that balance for the next 30 days
- Hard/soft pull: Soft pull
- Credit card funding: None
- Monthly fees: Waivable
- Early account termination fee: None
- Expiration date: March 31st, 2016
Contents
The Offer
- Receive a $500 cash bonus when you open a Citi Gold Checking account with the promotional code 439G8TGJJJ and complete the following requirements:
- Make an eligible deposit of $50,000 or more in new-to-Citibank® funds into your new Checking or new or existing Citibank Savings Plus account within 30 days after account opening. Maintain a minimum of $50,000 for the next 30 days to receive your bonus
The Fine Print
- The cash bonus will be credited to your new checking account within 90 calendar days from the date when you completed all offer requirements
- Offer is for new consumer checking customers only
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Citigold Account Package $30 Monthly Fee
To avoid the $30 monthly fee you need to complete one of the following:
- $50,000 in combined link deposit or retirement accounts
- $100,000 in all linked deposit, retirement, credit or investment accounts (excluding a first mortgage with citibank)
- $250,000 including linked Citibank mortgages
The monthly fee is usually waived for the first two months.
Early Account Termination Fee $0
We couldn’t find any mention of any EATF in the product disclosures and haven’t heard of anybody being hit with a fee. Your account does need to be open for the bonus to post, though.
Our Verdict
The $50,000 requirement is killer, this account earns at 0.08% APY. If you put that in a 1% account you’d earn ~$40 a month (in a 5% account you’d earn $200 a month). The other thing to consider is you can get 50,000 American Airline miles or 40,000 Citi ThankYou points without this requirement. Those bonuses are both much better than this offer, so this one is a pass for me. We haven’t added this to our list of the best bank bonuses.
If you’re thinking about this deal, think about doing the miles or points offer instead. If you still want to stick with this bonus then read our step by step guide (just keep in mind you can no longer fund with a credit card).
Hat tip to reader Josh G
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To 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
