This bonus has expired, you can view the current Citi business checking bonus by clicking here.
Offer at a glance
- Maximum bonus amount: $700
- Availability: Must open in branch [Branch locator]. Looks to be limited to CA, CT, D.C., FL, IL, MD, NJ, NV,  NY, VA
- Direct deposit required: Not required
- Additional requirements:Â Deposit $50,000 and enroll in cash management services or deposit $200,000
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $30, avoidable
- Early account termination fee: None
- Expiration date: April 14th, 2017
- Household limit: Not mentioned
The Offer
No direct link, must open in branch
- Open a new Citibank business checking account before April 14th, 2017 and deposit $50,000 or more in new-to-Citibank funds before May 14th and get a bonus of $500 when you also enroll in one of the following cash management services:
- Citi merchant services
- CitiBusiness Online ACH Origination
- Citibank Remote Check Deposit
- Payroll Manager
- Open a new Citibank business checking account before April 14th, 2017 and deposit $200,000 or more in new-to-Citibank funds before May 14th and get a bonus of $700 when you also enroll in one of the following cash management services:
- Citi merchant services
- CitiBusiness Online ACH Origination
- Citibank Remote Check Deposit
- Payroll Manager
- Both offers are also available to existing customers
The Fine Print
- Cash bonus will be credited within 90 days from the end of the month in which you reach the requirements.
- You’re required to pay taxes on all bank account bonuses
Avoiding Fees
The easiest account to keep fee free is the CitiBusiness®Streamlined Checking Account, this has a monthly fee of $15 and is waived have an average monthly balance of $5,000 or more. There is no early account termination fee to worry about. I’m not sure what any of the cash manage service fees are, if you know please share in the comments.
Our Verdict
This is a pretty good bonus as there is no minimum deposit length for the $50,000. That being said most people will not have $50,000 in cash laying around the house. The other issue is that we don’t know enough about the cash management services. I usually classify bonuses such as this in the too hard basket, but it might make sense for some people. If you go for this bonus, please share your experiences in the comments below.
You can view the best business checking sign up bonuses here. There are also currently bonuses of $300 or $500 on Citi personal checking accounts.
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DoC,
$500 bonus with $50K deposit valid until 12/31/2017
Code: CZ2X
Screen: https://imgur.com/a/dDdHP
Must not have had account in last 180 days.
To qualify to earn a $500 cash bonus, you must open a new eligible consumer checking account in The Citi Priority Account Package between 10/1/17 – 12/31/17.
Within thirty (30) days, make a qualifying deposit of $50,000 or more in new-to-Citibank® funds into the new checking account or a new or existing Citi® Savings Account or existing Citibank® Savings Plus Account, and maintain a minimum balance of $50,000 for sixty (60) consecutive calendar days following the date when you made the qualifying deposit.
AND
Within sixty (60) days, 1 qualifying Direct Deposit must post to the new checking account each month for 2 consecutive calendar months after opening the new checking account.
I went for the $500 promo, I live in MA, but it accepted my application. I figure I earn more on 50K in 2 mns than I can sitting in the bank.
Pass. Will wait for their “$25,000 bonus if you deposit $10,000,000 for 30 days” offer.
They also have $950 bonus if you deposit $1,000,000 for 30 days
Its an IRS trap 😜
How do business account bonuses affect taxes if the business is a sole proprietor?
Have heard you should just put the interest with all your other interest on personal accounts, and not treat it as business income on tax filings. Would love to hear other opinions though.