Posted by William Charles on November 1, 2018
Bank Account Bonuses

Published on November 1st, 2018 | by William Charles

48

[CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT] Citizens Bank $200/$400 Checking Bonus + $100 Savings Bonus

Offer at a glance

  • Maximum bonus amount: $500
  • Availability: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT
  • Direct deposit required: Yes, $500+ or $1,000+
  • 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:  Up to $1,000, Visa & MasterCard only
  • Monthly fees: $25, avoidable
  • Early account termination fee: None listed
  • Household limit: None listed
  • Expiration date: January 24th, 2019

The Offer

Direct link to offer

  • Citizens Bank is offering bonuses of up to $500 when you open checking/savings accounts.
    • Receive a $200 bonus when you open a One Deposit Checking from Citizens Bank and make a single direct deposit of $500 or more within 60 days of account opening
      • Receive an additional $100 bonus when you open a new green savings account with a minimum of $2,500 not on deposit with citizens bank. This must remain deposited until a set time (based on your account opening date)
    • Receive a $400 bonus when you open a Citizens Bank Platinum Checking account and make a single direct deposit of $1,000 or more within 60 days of account opening
      • Receive an additional $100 bonus when you open a new platinum savings account with a minimum of $10,000 not on deposit with citizens bank. This must remain deposited until a set time (based on your account opening date)

Bonus Table

The Fine Print

  • To qualify for the $400 new checking bonus you must open your first new Platinum Checking account between 10/11/18 and 1/24/19 and have at least one single direct deposit of $1,000 or more post to your new checking account within 60 days of account opening.
  • To qualify for the $100 new savings bonus you must open your first new Platinum Savings account between 10/11/18 and 1/24/19 with a minimum of $10,000 not on deposit with Citizens Bank that remains on deposit until the date stated in the table below.
  • To qualify for the $200 new checking bonus you must open your first new personal checking account , excluding Student Checking, 10/11/18 and 1/24/19 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 qualify for the $100 new savings bonus you must open your first new Green Savings account between 10/11/18 and 1/24/19 with a minimum of $2,500 not on deposit with Citizens Bank that remains on deposit until the date stated in the table below.
  • To qualify for the new savings account bonus you must also open a new checking account at the same time.
  • Direct Deposit is recurring income electronically deposited into your Citizens Bank checking account and may include salary, pension, Social Security and Supplemental Security Income (SSI) benefits and other regular monthly income.
  • For both offers: Primary signer on the new accounts may not be or have been a primary or secondary signer on any Citizens Bank personal checking or savings accounts within the previous six months, and must appear in the same order on both accounts.
  • The new account(s) must be open and in good standing to qualify for this offer.
  • Offer may be withdrawn without notice and cannot be combined with any other offer.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

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.)

Green Savings $4.99 Monthly Fee

The $4.99 monthly fee on this account is waived with a minimum daily balance of $200+

Citizens Bank Platinum Checking Account $25 Monthly Fee 

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

Platinum Savings

This account has no monthly fee to worry about.

Early Account Termination Fee

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

Our Verdict

Update: Another option would be to do the $400 deal without the savings account. Looks like you can get the bonus without worrying about the balance requirement. That would be the better deal vs the $200/$300 bonus.

We’ve seen both the $200 bonus and $400 bonus before, but without the extra $100 for opening the savings account. At minimum you’ll need the funds deposited for three months (if you open on the last day of a month) and the account will need to be open for four months, I’d recommend planning on four/five to be on the conservative side. To get the full $500 bonus you’d need to keep $25,000 deposited for five months, if that was in a 2.25% account you’d earn ~$234. For a lot of people doing the $300 bonus will be a lot simpler as you only need to do a direct deposit and have $2,500 invested. The bonus is $200 less but it’s much easier to complete and frees up liquid funds for other uses/bonuses. I do think the $300 bonus is definitely worth doing if you live in an eligible area. Because of that I’ve added it to the best checking bonuses.

Big thanks to reader, Dan – Legal Bank Robber who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



48
Leave a Reply

avatar
 

  Subscribe  
newest oldest
Notify of

Deleted – Misread. Thanks Will!

I understand that the $300 is easier to do than the $500 since it’s a lot less money to keep deposited for all those months. But wouldn’t it make even more sense to just do the $400 bonus, ie the Platinum checking and just skip the savings part? This would then be the same deal they’ve had now for a few months.

The monthly fee is $25 for platinum account.

…which is waived for the first few months. I got my bonus and closed the account before any monthly fees hit.

What were your dates for this? How long is the fee waived?

There was a lot of discussion on the other Citizens thread. Not sure maximum time the fee is waived but it seems at least the first 2-3 months.

My DPs:
7/30 opened with $1000 Cap One charge
8/6 transfer $1100 from Chase
9/13 withdrew $1100
9/26 $400 bonus posted
10/2 withdrew balance ($1400.05)
10/3 requested account closure via SM
10/4 Citizens mailed interest check for $0.02

Very nice bonus and very painless.

Trampdad Hi, I was wondering if there was a fee when you transfer the money out of the account from a different bank, or did you withdrew it from an atm? There seems to be a transfer fee when I try to do an external transfer.

Sorry for the late response. There were no fees, all transfers were ACH between Citizens and Chase accounts.

Where do you read that the fee is waived for a few months?

Answered my own question via an online chat.. Agent: “I was able to verify that we waive the fee for the first 3 months.”

Don’t see anything about previous customers – I closed my citizen acct back in July – repeat?

From the Citizens website:

“Get up to $500 when you
open your first new Citizens
Bank checking account &
add a savings account online”

“first new” is interesting language. I don’t remember seeing that on previous offers (but then I’m pretty new at this game).

Edited to add: from the fine print above: For both offers: Primary signer on the new accounts may not be or have been a primary or secondary signer on any Citizens Bank personal checking or savings accounts within the previous six months, and must appear in the same order on both accounts.

yeah, that “first new” is interesting indeed. this makes me think they’re trying to make this bonus not churnable anymore. perhaps worth a try to get it again, but i’m thinking they will deny even if you’ve waited for more than 6 months since closing last time

Any Comments on this “first new”, I closed my account more than 6 months, just wonder if I should open it again to testify their wording?

Same question, any one knows?

They are on a 6 months prior timeline. So if you want to open today, you should have closed on or before Apr 30 2018.

Can the 25k in required deposits to avoid the $25 monthly fee for the platinum checking be partly in the citizens access high yield account? I would rather not lose out on my high yield savings account interest for 25k if I don’t have to.

Anyone know if you can credit card fund $1000 each in checking AND savings?

Yes I opened 2 savings each one has been funded using my CIC

I was only able to allocate $1000 between the Checking and Savings accounts. The terms of the Savings account $100 bonus state that it has to be opened at the same time as the Checking. So I don’t guess a later opened Savings account with it’s own $1k CC funding would qualify for the $100 bonus.

Citizens Bank Platinum Checking – minimum of $10,00 not on deposit
It’s missing 0

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Will, I disagree. The $400 bonus is certainly better. They waive fees for 3 months. You dont need to keep 25k.

Dan, I am hoping you can clarify something a bit for me. The bonus schedule shown in the offer above states that for an account opened in November 2018, the bonus will be paid by March 31, 2019. If Citizens only waives account fees (in this case for the plantinum checking) for 3 months, how do you keep the account fee free through March 2019?

I appreciate your help/advice as I think I am either misunderstanding when the bonus gets paid or how to keep the account fee free through payment date.

Thanks Dan!

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Biily Well the past promo had language that states the bonus will be paid out in 90 days. In my experience and helping others w/ this promo the bonus is paid out 1.5-2.5 months after completing the promo. So even if one or two fees were to be incurred (which in my opinion I don’t think will happen) it is still worth it. Also I believe the March 19’ date refers to the savings part of the bonus.

Edit: Yes the savings bonus is paid out in March, the savings requires a $400 min balance to waive fees.

Anyone else having issues where the “continue” button either doesn’t do anything or times out when trying to verify your zip code?

Can I open the Platinum Checking with the Green Savings to get the $400 for checking and $100 with savings w/o having to tie up 10k?

Opening the account online is eligible for bonus, correct? I couldn’t find any branch in NJ near me.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Yes

Just got finished closing my citizens account from the $400 checking offer a couple months ago. Managed to make it out with no fees despite not making the minimums …. YMMV.

Citizens customer service and technology is really behind the times … they must be desperate and losing customers to savvier banks .

Is it just me or is the website damn near broken? Clicking the “next” or “continue” buttons on their application gives no indication of progress and just freezes there. Occasionally, pressing stop/refresh repeatedly causes the next page to load.

created account online just 10 min… need to do dd and wait for bonus

“According to this comment they really do count any deposit – even a transfer from another Citizens Bank account will trigger this.”

Correct. I’ve been a one-deposit account holder for many years, and I can 100% vouch for this. Schedule recurring monthly transfers between your citizens accts (have them trade a penny back and forth) and you don’t have to worry about the monthly fee… ever again.

It’s a dunce tax more than a fee, really. I’m told by others that it appears on your statement as:
🤣😂😅 -$10.00

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Its just to prevent people from opening account and not using it.

Declined in the application process due to information received from… Equifax?! The application was about to ask some ID verifying questions and suddenly kicked back with the decline message without even asking. (Equifax has some incorrect info about me that I’ve had a hell of a time getting removed.)

Ah well.

Same thing for my roomate. But the Citizens email didn’t state what was in the EQ report (we looked and nothing bad/wrong, that I could see). I thought they had to tell you. like: “too many inquiries”, etc.

Back to Top ↑