Update 1/13/22: Deal is back and valid until March 31, 2022. Hat tip to reader Jim
Update 11/14/21: Deal is back and valid until 1/8/22.
Offer at a glance
- Maximum bonus amount: $400
- Availability: Must live, work, worship, or study in Bucks, Chester, Delaware, Montgomery, or Philadelphia Counties, or the city of Lancaster, PA or if a member of your family or household is already a customer, no matter where you live.
- Direct deposit required: $500+
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown, sensitive
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee:
- Household limit: One per lifetime
- Expiration date:
July 21st, 2018 September 15th, 2018 None listed March 16th, 2020January 8, 2022
- Citadel Bank is offering a bonus of up to $300 when you open a new checking. Bonus is broken down as follows:
- Receive $300 when you receive a direct deposit of $500 or more within 60 days of account opening. Use promo code JAN2230013
Receive $100 when you open a Citadel High Yield Savings account (minimum balance of $10,000, also must be maintained for 30 days ) or Citadel credit card (minimum credit limit of $1,000)
The Fine Print
- All standard account requirements apply.
- The Cash Bonus offer may not be combined with any other offer. Offer available to new checking customers only.
- Customer must not have closed a Citadel checking account within the last 12 months and/or received a checking sign-up bonus or award previously.
- Limit one offer per household per lifetime.
- To qualify for $300 Cash Bonus, a direct deposit of $500 or more must post to new checking account within 60 days of account opening. Direct deposit transactions are limited to payroll, social security, and government benefits.
- For the additional $100 Cash Bonus, checking Cash Bonus offer requirements must be met, and customer must open any Citadel credit card with a limit of at least $1,000 and/or open a Citadel High Yield Savings account.
- Minimum balance required to open Citadel High Yield Savings – $10,000.
- Minimum balance must be maintained in the High Yield Savings account for at least 30 days after account opening in order to receive the additional $100 bonus.
- Limit one additional $100 Cash Bonus per account.
- To receive Cash Bonus(es), customer must contact Citadel by calling (877) 780-1615 or visiting a branch after completing requirements for each bonus.
- Checking account must be open for 60 days before Cash Bonus is awarded.
- Cash Bonus will be awarded after sixty days, once Citadel confirms the requirements have been met.
- Account must be in good standing at time of incentive processing in order to receive Cash Bonus.
- Cash Bonus must be requested within 60 days of meeting the promotion requirements.
- Cash bonus may be reported on a 1099-INT.
- Offer expires July 21, 2018.
- This limited time offer may be withdrawn or changed at any time.
They offer a free checking account with no monthly fees to worry about.
Early Account Termination Fee
Citadel bank does not charge any early account termination fees from what we could find.
Opening a credit card will almost certainly result in a hard pull, so that isn’t worth doing. The high yield savings account earns 1.5% APY, so it isn’t worth keeping long term but it might make sense to open and keep funds in there for 30 days to trigger the $100 bonus. Previously they had a $250 checking bonus with no direct deposit requirement. Personally I’d take $50 less to not have to deal with the direct deposit requirement, but no gaurantees that bonus comes back and some people might prefer the extra $50. I do think this is worth doing if you live in an eligible area, so I’ll be adding this to our list of the best checking bonuses.
Big thanks to reader, Z Nut who let us know. Learn how to find bonuses and contribute to the site here.
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
- Update 2/2/20: Deal is back, but this time the $100 savings bonus not available.
- Update 09/16/18: As far as I can see, there is no end date listed anymore.
- Update 08/26/18: Deal is back and valid until September 15th, 2018. Hat tip to reader Tyler.