Posted by William Charles on December 30, 2019
Bank Account Bonuses

Published on December 30th, 2019 | by William Charles

272

[CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT] Citizens Bank $600 Checking & Savings Bonus

Update 1/16/20: This link works until 4/16/20.

Update 12/30/19: Deal is back and valid until February 20th, 2020. Hat tip to reader Johnz

Offer at a glance

  • Maximum bonus amount:
  • Availability: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT
  • Direct deposit required: Yes, $500+
  • Additional requirements: See below
  • Hard/soft pull: Soft pull as long as you opt out of over draft protecton.
  • ChexSystems: Mixed data points
  • Credit card funding: None
  • Monthly fees: $9.99, avoidable
  • Early account termination fee: None
  • Household limit: None
  • Expiration date: December 26th, 2019 February 20th, 2020.

The Offer

Direct link to offer

  • Citizens Bank is offering a bonus of up to $600. Bonus is broken down as follows:
    • Get a bonus of $300 when you open a new one deposit checking or Platinum checking account and make a direct deposit of $500 or more within 60 days
    • Get an additional $200 when you open a new green savings or platinum savings account with a minimum of $15,000 not currently on deposit with Citizens Bank and maintain that balance for 3 months
    • Get an additional $100 when you do both

The Fine Print

  • To earn a $300 bonus, open your first new personal checking account, excluding Student Checking, between 9/12/19 and 12/26/19 and have at least one single direct deposit of $500 or more post to your new checking account within 60 days of account opening.
  • To earn a $200 bonus, open your first new personal checking account (excluding Student Checking) AND open your first new personal savings account on the same date between 9/12/19 and 12/26/19 with a minimum of $15,000 not on deposit with Citizens Bank that remains on deposit until date stated in the table below.
  • To earn the additional $100 bonus, you must qualify for both the $300 and $200 bonuses noted above.
  • Primary signer on the new checking and savings accounts may not be or have been a signer on any Citizens Bank personal checking or savings account within the previous six months.
  • The new account(s) must be open and in good standing to qualify for this offer.
  • Direct Deposit is recurring income electronically deposited into your Citizens Bank checking account and may include salary, pension, and other regular income.
  • Eligibility: Customer must open their first new Platinum Checking or One Deposit via Citizens Bank’s online account opening system accessed by clicking on one of the links on this page.
  • Customer should print this screen for their records.
  • Customer will only be paid a one-time bonus for this program.
  • Payout: Bonus will be deposited to the new checking account by the date stated in the table below and will be labeled as “Balance Builder Bonus.”
  • Bonus will be reported to the IRS for income tax purposes.

Avoiding Fees

Monthly Fees

Citizens Bank One Deposit Checking Account $9.99 Monthly Fee

The One Deposit checking account comes with a $9.99 monthly fee. Fee is waived by making one deposit each statement period. (According to this comment they really do count any deposit – even a transfer from another Citizens Bank account will trigger this.)

Citizens Bank Platinum Checking Account $25 Monthly Fee 

Citizens Bank Platinum Checking: $25 fee is waived with $25,000 in combined deposits

Early Account Termination Fee

As far as we know there is no early account termination fee.

Early Account Termination Fee

Our Verdict

Previously you’ve been able to get a bonus of up to $600 but without the savings requirement, just a slightly higher direct deposit was required. That was a significantly better bonus as you didn’t need to tie up $15,000 for three months. I suspect this new offer will be the standard bonus that Citizens offers and because it’s churnable I do think it’s worth doing this bonus (it’s basically the same as the popular Chase $600 checking & savings bonus). Because of that I’ll be adding this to our list of the best bank account bonuses.

Hat tip to reader Carlos

Useful posts regarding bank bonuses:



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Ryan
Ryan

My previously closed account still shows up under my profile. Is it safe to churn?

Bruce

Are you able to create a different login?

Ryan
Ryan

I didn’t open the new account yet because I can still log into my profile and see the old account.

Billy Bong
Billy Bong

FWIW I don’t see my previous account in my profile, opened 9/29/18 and closed 6 months after

James
James

The language says can not be a previous owner of either checking or savings with in 6 months. My online profile still shows even though I closed in July

Ryan
Ryan

I just sent a message to the customer service to make sure my account is actually closed. I closed mine back in March.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

It actually is, that is just the way they display it. Please dont draw attention to people churning this.

Jack
Jack

According to the terms, it just has to be 6 months since you signed for it, right?

James
James

So does that mean 6 months from when it was opened? Not 6 months from when it was closed?

AD
AD

No it means had an account in open status.

Bonus_Chaser
Bonus_Chaser

Typically, closed accounts disappear sometime between 30 to 60 days after closing.

I’ve recently “closed” an account in branch. Followed up 2 weeks later via phone to “verify” the status of the account and was told it was still “open.” Few similar complains can be found in other Citizens bonus comment sections.

My recommendation is to verify the account is actually closed prior moving forward with churning.

Sam
Sam

What’s Citizen’s interest rate these days. Could be worth doing if they weren’t paying $0

bax
bax

16 cents per month on my 15k

SMan
SMan

In New York state interest rates are almost zero on savings and checking. CDs close to 1% .

Churners R Us
Churners R Us

Is the 6 month no prior citizens bank a/c enforced?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Yes, I was denied on my attempt after three months.

Jack
Jack

When did you open that previous account?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Why? I opened an account in 12/2017 closed 4/2018 and tried to churn again on 8/2018. I am fine now to churn since I am past 6 months.

Jab
Jab

I can also confirm that. Be sure to check via secure message when your account was actually closed. In my case it was two months later than I thought

767
767

With all these high bank bonuses lately (Hanmi, Fifth third, BBT, Wells Fargo, etc) haven’t had to do numerous monthly debits on my rewards checking accounts except the 5 at Hanmi.

Interest on the green savings is 0.01% but for the $200 for 3 months, it’s roughly equivalent to a 5.25% APY.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Technically $300 b/c you get the extra $100 for doing both.

Ro
Ro

Is it possible to give a valid state zip and out of state address? Anyone tried this? $300 for checking is definitely lucrative and worth a gamble…

Brian C
Brian C

Let me know if you go for it what happens

Pudding
Pudding

Any DPs demonstrating they do or don’t enforce the 6 month cooldown period? If not I may go ahead and be the DP since I’m moving out of their footprint before I’ll technically be eligible again anyway

Dr Frog
Dr Frog

Dan says they enforce it.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

They did not give me it.

Sam
Sam

” Qualifications:Primary signer on the new checking and savings accounts may not be or have been a signer on any Citizens Bank personal checking or savings account within the previous six months.”

Does this mean account opening or from account closing?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Closing

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Shame they took away credit card funding

Kyle
Kyle

Yeah, the list of banks accepting CC funding keeps dwindling. )-:

Public_Celebration
Public_Celebration

Is it true that the $15,000 for the savings account has to be transferred immediately at account opening? Like there’s no “transfer $15,000 within the first 30 days…”?

bax
bax

Yes, I double-checked it by calling the new accounts dept: for this promo, no grace period, pretty much means schedule 15k ACH in at account application stage.

mjonis
mjonis

How did anyone transfer the 15k during the application process? I could’ve sworn the page said it had a $1,000 ACH limit during application (although even it was $10,000 that’s still not $15,000).

Helmholtz
Helmholtz

I was just told by a CSR that I had 60 days to deposit the $15k. TBD, of course.

Kim
Kim

I Just called the new accounts line, and was also told that I had 60 days to deposit the $15k.

JT
JT

I was told by a CSR that I had 5 days to deposit the $15,000. Note that ACH is limited to $10,000 with only one transaction outstanding. ACH transfer out is a $3 fee. I was also told to hold onto the mailing as proof.

DC
DC

Was told it had to be at the time of opening. So I decided to not fund $15K to savings since I missed the window. I opened both savings & checking though, so We’ll see if I can get the promo for the checking part only. Pls report back if you’ll get it despite funding it later? Thank you.

JT
JT

It seems like the promo reps are part of a different department than the bank, so I’m not sure if I believe it, but I did get it in an email.

I won’t know for a few months. A $75 (opportunity cost) gamble.

JT
JT

To report back – I got the bonus, despite funding it later.

Mary
Mary

Can someone please advise what all qualifies as DD with this bank? Can I open when visiting NY (I live in FL) but have my sister’s address in NYC? Thanks 🙂

bindarb4
bindarb4

click the link next to “direct deposit required” under “offer at a glance”…..a new window will popup listing the financial institutions whose transfers count as direct deposit. based on previous experiences. Its always a gamble but I’ve never been disappointed.

bax
bax

IME, pretty much every bank-to-bank ACH counts, but read the data points to be sure: https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/#Citizens_Bank

Kyle
Kyle

DP: During the application process I clicked on “Existing Customer” and logged in using my credentials from my last account. My previous account, closed more than 6 months ago, still shows up as well. However I was still able to proceed with the application and saw the promo code was attached. I was ultimately approved for a new account. Under messages I can still see the correspondence from when my previous account was in fact closed if I run into any issues in the future.

Bruce

For someone that has churned this before, would be nice to know if they chose existing customer or new customer? Based on what I’ve read, it’s hard to get Citizens to post a bonus if it doesn’t happen automatically, even with CFPB

Peek

Bruce I’ve done it twice and I’m fairly sure I chose new customer the second time. I do think I was able to login with old credentials once opened though. It doesn’t make a lot of sense to me that you’d be an existing customer if you currently had no open accounts.

Kyle
Kyle

True, but Citizens is very odd. I tried “new customer” at first, and after entering all my info, was told I needed to call the bank. The Application was not approved. Only after I tried applying again and chose “Existing Customer” did my app get approved. By logging in, I noticed they had pre-filled some of my info in the application as well.

W.C
W.C

I’m having a similar issue. Do you think you can get the bonus?

Kyle
Kyle

I dunno. Met the requirements but still waiting.

Evilex
Evilex

This is the dp I need, please keep us updated, gonna be eligible to open it again in Feb and I’m 90% sure this will happen to me cuz even the first time I opened an account I had to call, no doubt I will get that msg again since.i.moved and most bank app show my old address as.main.

JJM292
JJM292

Hey DoC, just a heads up that this isn’t currently posted on the Best Bank Account Bonuses page.

Thanks for everything you do!

Juntas
Juntas

I’ve a Citizens account and plan to open one for my wife with her as the primary signer. Since she doesn’t ‘ve a direct deposit, if I setup the DD with my name will the bonus still be triggered.

Aaron
Aaron

yes

MissMBA
MissMBA

Applied online this weekend. Gave them the information to fund the 15k and at the end they said they needed me to upload a drivers license or state ID plus a utility bill for proof of address.
Has this happened to anyone? If so, how long do they take?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Happens to basically everybody. Biz day or two.

MissMBA
MissMBA

Thanks!

Nate
Nate

Were you able to progress past the external account funding screen? I got an error after putting in my external funding account info, and received the drivers license / utility bill request via email a few minutes later, but was never able to progress past the external account funding screen.

M Horn
M Horn

Having the same problem now; did you ever get this resolved?

Harold
Harold

Citizens would not allow the initial funding from Alliant Credit Union or Northern Bank Direct. It said that it could not verify the funding source. It did work from Chase,

Johnz
Johnz

Got the same ‘could not verify’ for my 1st choice of initial funding bank, noticed that bank didn’t use my middle initial but Citizen did so I resumed my saved application and tried funding from a bank that did use my middle initial and that verified OK. Wish I was more consistent in omitting my middle initial from applications.

Harold
Harold

My new Citizens account application was for an individual account and had my middle initial, identical to the Alliant account that failed. The Chase account that did work also had a middle initial (and was a joint account). I suspect that they can only verify with certain banks.

767
767

Been having the same issue with Jovia FInancial (formerly NEFCU) – could not verify. Even tried using Jovia debit card which did not work. Currently in the process of transferring funds to Citi and using that as a funding account. Hopefully that will work.

767
767

Was able to successfully open the account today using Citi as the funding account.

Mark
Mark

Just reapplied for this offer (previous closed account was in 04/19). I was denied, and received and email titled “Application Denied – Equifax”.

All of my credit reports are locked. Is that the reason? Will that block a “soft pull” of my credit report? Or did they simply not like my credit report, which is a bit odd as it is fine…..

Thanks.

Mark
Mark

I guess I answered my own question. Removed lock on Equifax and application went through. Requested Drivers license and utility bill to be uploaded and stated they would be in touch in 1-2 days.

767
767

Yeah, unfreezing is a hassle but at least they no longer charge for doing that.

W.C
W.C

I closed both checking & savings in March. Just tried logging into my online account, and my savings account is still showing up there. Anyone has had similar experience before?

Johnz
Johnz

It’s probably not what you’re seeing but all my old Citizen accounts show as ‘Suspended’ under Transfer Between My Other Bank Accounts.

SG
SG

It could not fund from Marcus. So saved the application and resumed. But now I have only debit option. Has anyone encounter that? If so can I fund using debit and then later ACH transfer from chase?

Harold
Harold

You need to cancel the application and start over from the beginning. That worked for me.

SG
SG

Thanks. Chase worked in the 2nd application. I wonder whether it counts 2 chex inquiry

Nate
Nate

If I had to guess, I think it does. I had Name/Address matching issues with linking my external Chase account and after trying it I would say maybe 3-4 times over a couple days, I got an error that my application was denied due to information on my credit report. 🙁

Samosa
Samosa

SG Harold were you able to fund the required $15K via single ACH at the time of application submission? Thanks in advance!

Harold
Harold

Yes. Citizens processed a $15,000 ACH for the savings account and a second one for the checking account.

Samosa
Samosa

Thanks! Time to breakup with Marcus.

Nate
Nate

I just attempted opening accounts for myself (and also tired P2) but am worried that due to Citizen automatically entering the “City” where I live based on my zip code incorrectly (there are two cities in my zip code), and my inability to correct their error (the box for “city” is not user-editable), my “City” on the Citizens application never will match the “City” on credit report / drivers license / external account linking.

I’ve tried a number of things over the last few days, and I can never get past the last external account funding screen.

Anyone encounter this and/or found a way to still meet the terms/conditions of this deal?

Olympia
Olympia

Attempted to do this for myself at P2. Both declined. A slight chance I may have uploaded same DL for both but not sure. Sigh. We’re both previous account holders. Might try again and choose existing customer. We’ll see.

Bruce

How do I set up online banking? I uploaded my drivers license and utility bill during the signup and a few days later got a txt message welcoming me to the bank, but I haven’t seen how to set up online banking. If i click enroll now on the website, it says i already have a login, which is an old one that has two inactive accounts under it

Johnz
Johnz

Login using the old login, you’re new account is there. If forgot pw, I think I had toclick the Trouble logging in? and navigate to the Forgot pw dialog.

mjonis
mjonis

Wow you gotta open the Savings with $15,000? Can you actually transfer that much via ACH?

ray615
ray615

That’s a good question.

From this link – https://www.citizensbank.com/account-safeguards/online-terms-and-conditions.aspx#10_ii_c

Consumer Transfers Outside the Bank are subject to the following dollar limits:
Standard Transfers:
Incoming/Outgoing Transfers: $10,000/business day and $15,000/month
Next Day Transfers:
Incoming/Outgoing Transfers: $2,500/business day and $5,000/month

So now, I’m totally confused as to what to do.

JT
JT

They’ll let you transfer that much by ACH during the application. But once your account is opened, you get stuck by those ACH T&C limitations.

Rim
Rim

Does anyone know what it means by FIRST in the statement – To earn a $300 bonus, open your first new personal checking account? On plain reading it appears that this is limited to opening for an account once in lifetime?

Johnz
Johnz

It’s not limited to once a lifetime, I’ve gotten similar Ciitizen bonuses in 2016, 17 & 18. The offer also says “Qualifications: Primary signer on the new checking and savings accounts may not be or have been a signer on any Citizens Bank personal checking or savings account within the previous six months.” So I qualify because I closed my last Citizen checking more than 6 months ago.

Evilex
Evilex

To churn this Did you open the new accounts as new costumer or I’m already a citizen costumer?

Johnz
Johnz

Not having any open Citizens accounts, I opened as ‘new customer’

joe
joe

just chatted with a CSR. If the 15k cannot be funded instantly at account opening, you will not receive a savings bonus. bummer 4 me

Johnz
Johnz

This comment’s CSR said could fund it within a few days, don’t know who’s correct: https://www.doctorofcredit.com/ct-de-ma-mi-nh-nj-ny-oh-pa-ri-vt-citizens-600-checking-savings-bonus/#comment-833871

joe
joe

I just spoke with the Marketing team. They suggested I bring in a $15k check in branch within 24 hours of account opening but even then i wont be guaranteed the bonus. They said if i want to be safe, I should cancel the app and I can reapply in branch. Oh well

Eric Marsh
Eric Marsh

Hi joe,

Can you tell me if you had any luck in the branch? I tried online application and all went well until the 15k transfer attempt from Discover Savings. I had to upload pic of driver license and a recent bill to prove identity. Got a message they would contact me within 2 days and they did email me, stating they could not open account at this time based on info I supplied in my app but said one of their branches may be able to assist me with opening process. I have a 800+ score and 6 checking or savings open in last 2 yrs. I have many branches in my town, but on the offer page from above, it states “Offer only available by accessing links via this page” making me think it’s N/A to obtain the offer in branch?

Thank you for input if possible,
Eric

Eric Marsh
Eric Marsh

Please disregard my post above, as error was on my part. When I sent the license pic, my flash blurred it, so they were unable to read. I re-sent and opened account, no problems.

Eric

Eric Marsh
Eric Marsh

I have branches in my town. Has anyone just opened in branch and brought a check for 15k or the account number from same outside bank, and met the deposit requirements that way? I know it says apply online above, but just thought I’d check.

Steve
Steve

CSR also told me I did not qualify because I didn’t deposit $15K when I opened the account.

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