Update 4/18/24: Deal is back through 6/6/24 at this new link (ht reader Meg). After signing up for the checking, you can then go and do the $500 Citizens savings bonus.
Offer at a glance
- Maximum bonus amount:Â $400
- Availability: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL
- Direct deposit required:Â Yes, $500+
- Additional requirements:Â See below
- Hard/soft pull: Soft pull as long as you opt out of over draft protecton.
- ChexSystems:Â Mixed data points
- Credit card funding:Â None
- Monthly fees:Â $9.99, avoidable
- Early account termination fee:Â None
- Household limit:Â None
- Expiration date:Â
November 26, 2020 10/28/21 4/14/2022 6/9/20221/20/23
Contents
The Offer
- Citizens Bank is offering a bonus of up to $400 when you open a new checking account. Bonus is broken down as follows:
- Get $300 when you open your first new personal checking account and make a direct deposit of $500 or more within 60 days.
- Earn $2 for every debit card purchase you make, up to $100 within the next 60 days.
The Fine Print
- To earn a $300 bonus, open your first new personal checking account between 08/17/20 to 11/26/20 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 up to $100: Get paid $2 per qualified debit transaction (up to $100) that post and clear your new checking account within 60 days of account opening.
- Qualifications: Primary signer on the new checking account may not be or have been a signer on any Citizens Bank personal checking account within the previous six months.
- The new account must be open and in good standing on the payout date stated in the table below 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.
- Qualified debit card transactions include signature and PIN-based debit transactions in person directly at a merchant location or in app or online merchant sites.
- Only one debit card per checking account eligible for bonus. Online Bill Payments, Zelle® transactions and ATM transactions do not qualify.
- Eligibility: Customer must open their first new checking account 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.
- Offers may be withdrawn without notice and cannot be combined with any other checking offer.
- 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.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Need to sign up for online statements otherwise there is a $3 fee.
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.)
Early Account Termination Fee
As far as we know there is no early account termination fee.
Our Verdict
We’ve seen a $600 bonus in the past, but that required a $15,000 deposit to get the full bonus. This is a better option for those without that extra money sitting around. We will add this to our list of the best bank account bonuses.
Hat tip to reader Rob
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull 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
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Post history:
- Update 3/18/24: There is another variation that is a $400 bonus and only requires a $500 direct deposit (no debit card transactions for the full $400 bonus). Doesn’t show for everybody
- Update 12/28/23: Deal is back until 04/11/2024. Hat tip to ShawntheShawn
- Update 12/15/23: Extended until 02/16/2024.
- Update 10/30/23: Back until 12/31/23.
- Update 9/8/23: Extended until 10/26/23.
- Update 7/6/23: Extended again to 8/31
- Update 6/19/23: Reports of a $500 bonus in branch.
- Update 5/22/23: Extended to 7/6/2023
- Update 3/16/23: Extended until  5/11/2023.
- Update 1/14/23: Extended until 3/16/2023.
- Update 11/27/22: Available again until 1/20/23.
- Update 9/30/22: Extended until 11/24/2022.
- Update 8/6/22: Deal is back and valid until 9/29/2022.
- Update 6/10/22: Deal is back and valid until 8/4.
- Update 3/27/22: Deal is back and valid until 6/9/2022.
- Update 2/21/22: This page shows what HSBC branches are transitioning, this should mean the following states are available: D.C., MD, FL
- Update 2/21/22: Available again, keep in mind more states available. If you sign up successfully in a state not listed please let us know so we can add it to the post. Hat tip to Kamil Sultan
- Update 2/17/22: More states are now eligible for this offer. This is due to the HSBC branches being bought.
Did this offer BUT if there is not a branch in your area, you may be sorry. Was denied money transfer request and after speaking to a supervisor my account was deemed compromised and was unable to withdraw any funds. Even got to the point that my online account was inaccessable. Finally had to enlist the help of a third party who forced Citizens to issue a check. However, still today, I have not recieved that check. Hopefully before the end of April, I will. BE CAREFUL.
mike s What third party was it?
I have a similar issue with another bank that does not have a branch near me.
This is how I refer to my children.
Joanna Walters, that’s simply awesome. 😄
Please explain.
consumer financial protection bureau
Got a bonus from Citizens about two years ago. Opened a new account for P1 and P2, and after getting debit cards the bank quietly closed the accounts. Was told via letter that the bank has chosen to end relationship with me.
I already opened one deposit checking and saving today to get 500 bonus for 10k deposit for five months. Is there still away to get this 400 bonus? It looks like I should have opened checking using this link first and then added the other saving account and that would have given $900 total
I was surprised that it was declined due to Equifax!
7/24 (probably because of this), only 1HP/24, 10% usage, definitely no derogatory marks.
So it says open their first checking account, on another line says cannot have been signer/owner in past 6 months. Can we do this again forgot when I closed but did it last bonus in feb 2023, probably not closed until couple months later
In 2 player we have churned this one 7x now. It is 6 months after closing the previous account. As long as you are 6 months after closing the last account, you can churn it again. Good Luck!
thanks!
Just a note: The 800 mailed (targeted) offer is a bit easier to do than the 400+500 offer… does not require 10K but only a max of 1.5K and that too for a shorter time.
Does anyone have a screen capture of the $400 bonus terms with a single $500 DD that expired on 31 March 2024. I saved the webpage but that was a useless attempt since it now shows error 404 and can’t display page.
Offer that expired 4/11/24: https://archive.ph/4uHkt
TOm, here’s the whole smash: Pod Special Offer A-3 Citizens
Thanks for this, I called them today asking whether I will receive this bonus if I meet the requirements, they said if you don’t receive a email saying you will get this bonus later then you won’t.. LOL
Found this link today, good until 6/6/24
https://www.citizensbank.com/promo/checking/special-offer-2024-b2.aspx
Title needs an update too. William Charles Chuck
Citizens bank offering $250/500 savings bonus for depositing and maintaining $5,000/10,000 for 5 months. Expires 4/30
Link:
https://www.citizensbank.com/promo/savings/apriloffer1.aspx?ctzMode=MKL-SOC_FBK_CHK_CTZ_M17102_AP5F5M
Thanks https://www.doctorofcredit.com/ymmvct-de-ma-mi-nh-nj-ny-oh-pa-ri-vt-va-d-c-md-fl-citizens-bank-500-savings-account-bonus-with-10000-deposit/
DP from Pennsylvania:
2023/12/18: “One Deposit Checking” account opened.
2023/12/21: Opening deposit from Ally posts ($100).
2023/12/26: Transfer from Ally to Citizens posts, coded as “P2P” ($505).
2024/01/16-2024/02/16: Used the debit card to fund CashApp 38 times ($5-$13 each time).
2024/02/20: Used the debit card to fund CashApp six more times ($10-$12 each time).
2024/04/15: “Balbldr Bonus” credit memo posts ($378).
Disappointed that I lost track of time with this one and didn’t get the full $400. Better luck next time. This is my fourth time churning this bonus since early 2021.
As usual, I set up a biweekly transfer from Ally to Citizens ($1) to avoid the monthly fee.
Thanks as always, Doc.