Posted by William Charles on March 2, 2019
Bank Account Bonuses

Published on March 2nd, 2019 | by William Charles


[PA only] Citadel Bank Up To $350 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $350
  • 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
  • Credit card funding: Up to $500
  • Monthly fees: None
  • Early account termination fee:
  • Household limit: One per lifetime
  • Expiration date: None listed

The Offer

Direct link to offer

  • Citadel Bank is offering a bonus of up to $350 when you open a new cash back rewards checking account. Bonus broken down as follows:
    • Earn $110 for signing up, must also receive a direct deposit of at least $500
    • Earn up to $120 cash back (1% cash back on debit or credit card purchases. $10 maximum per month)
    • Cash back is doubled for the first year
  • To earn 1% cash back you need to do either of the following:
    • Average daily balance of $5,000
    • Qualifying direct deposits of $1,000+

The Fine Print

  • $110 bonus available to new checking customers only and may not be combined with any other new account offer. 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 be eligible for the $110 bonus, a qualifying direct deposit, as defined above, of $500 or more must post to new checking account within 60 days of account opening. To claim the new account bonus, customer must contact Citadel by calling 1-800-666-0191 or visiting a branch after completing the requirements. The bonus must be requested within 60 days of meeting the promotion requirements. Cashback Rewards Checking account must be open for 60 days for bonus to be awarded. Bonus will be deposited to Cashback Rewards Checking Account after 60 days, once Citadel confirms the requirements have been met. The bonus may be reported on a 1099-INT. This limited-time offer may be withdrawn or changed at any time.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

As far as I can see this account has 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.

Our Verdict

Update: The extra 1% cash back is in addition to what you’d normally earn on the credit card. So I guess it could make sense if you already have a Citadel card.

Basically you’d need to spend $1,000 monthly on the debit card to earn the $10 per month required to get the full $350 bonus. In addition you’d need a direct deposit or $5,000 balance. That is a lot of requirements and for most people and is definitely not worth doing if the spend could be put on a credit card (as you can get at least 2% cash back anyway). If you can easily do some debit card spend this bonus might be worth doing, but they recently had a $300 bonus that was much easier so I won’t be adding this to the best bank bonuses.

Useful posts regarding bank bonuses:

Leave a Reply


newest oldest most voted
Notify of

Word of warning: do NOT attempt this out of state. You’ll be able to open and find, but they will lock your account and force you to come into the branch if you want your money back. After much back-and-forth, they finally consented to me doing a chargeback from my funding cc (at their instruction) as a way to retrieve my money.


I don’t think this is actually too onerous if you have a monthly schedule. The requirements can all be met in two transactions. I just doubt they will actually pay out $120/yr for years to come.

Sean Payton
Sean Payton

Don’t go for this promotion. I did everything stated and they never awarded me my money. It’s a scam.

Back to Top ↑