Posted by William Charles on May 9, 2019
Bank Account Bonuses

Published on May 9th, 2019 | by William Charles

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[Expired] [In Branch] Citi Checking Bonus Up To $700

Deal has expired, view more bank account bonuses by clicking here.

Update 5/9/19: Deal is back and valid until June 30th, 2019. Hat tip to G007

Update 2/24/19: Deal is back available in branch, new expiry on March 31st, 2019. You’ll need to ask about the offer to be able to get it though. Hat tip to reader Gotham

Update 10/29/18: Deal is back and valid until December 31st, 2018. Hat tip to readers Craig P & Richard D

Update: Bonus is back and valid until June 30th, 2018. Hat tip to reader Tyler

Update 02/28/18: Bonus is back and valid until March 31st, 2018. Hat tip to reader @JjTheKnoxRA

Offer at a glance

  • Maximum bonus amount: $700
  • Availability: Nationwide but targeted
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: None
  • Monthly fees: $30, avoidable
  • Early account termination fee: None
  • Household limit: None
  • Expiration date: December 31st, 2017 March 31st, 2018 June 30th, 2019

The Offer

No direct link, targeted offer

  • Citi has sent out an offer for up to $700 when you open a new new regular checking account. The bonus you receive depends on what account package you open:
    • $700 bonus. Open a Citigold Account Package and make $1,000 in debit card purchases and pay one or more bills for two consecutive months
    • $500 bonus. Open a Citi Priority Account Package and make $750 in debit card purchases and pay one or more bills for two consecutive months
    • $300 bonus. Open a Citibank Account Package and make $375 in debit card purchases and pay one or more bills for two consecutive months
    • $50 bonus. Open a Citi Priority Account Package and make $125 in debit card purchases and pay one or more bills for two consecutive months

The Fine Print

  • Valid until June 30th, 2018
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Citigold Account Package ($700 Bonus)

This account has no monthly fee but you need an average monthly balance of $200,000 to be eligible.

Citi Priority Account Package $30 Monthly Fee ($500 bonus)

  • The Citi Account Package has a monthly fee of $30, this is waived if you maintain a combined average monthly balance of $50,000 or more in eligible linked deposits, retirement and investment balances. There is no early account termination fee for this account.

Citi Account Package $25 Monthly Fee ($300 Bonus)

  • The Citibank Account Package needs $10,000 in combined average monthly balances to remain fee free. Otherwise, there is a $25 monthly fee.

Early Termination Fee

In the past, Citi has not charged any ETF, and none is mentioned for this offer.

Our Verdict

Citi is currently offering $400/$600 bonuses that are much better than this deal. The $700 bonus isn’t worth considering due to the $200,000 deposit requirement, you’d be better off putting that money into a high interest account or investing it in the market depending on your risk tolerance.  Keep in mind the Citigold & Priority account packages also reduce the annual fee on the Prestige by $100. Because this deal is targeted and there are better bonuses available I won’t be adding this to the best bonus list.

Hat tip to Travelinpoints

Useful posts regarding bank bonuses:



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Mark
Mark

How do you get a targeted offer? Can you see it when you login? Can you sign up somewhere?

AllwaysLearning22
AllwaysLearning22

Yep. Snail mail, but I also had it when I login to my account online (for my Citi DC CC)

Reader
Reader

I received a similar offer, instead of cash the offer is: citi gold get 60,000 thankyou points, priority checking get 50,000 thankyou points

eli232
eli232

I got in the mail the same offer, with thank you points instead of money. like 50,000 TY points for Citi Priority and 60,000 for Gold account 30,000 for Citibank account and 10,000 for Basic.

KP
KP

TYP instead of cash? Lol, no thanks, Citi.

Eduardo Baez
Eduardo Baez

This targeted offer has been sent to Citibank credit cardmembers who are not current owners or signers on a Citibank consumer checking account.
Please see below eligibility requirements.
“Eligible Customers” are (1) New-to-Citibank Customers, (2) who enroll in the Citi/Cash Bonus Offer, (3) are Citibank credit cardmembers, (4) are at least eighteen (18) years of age, (5) have a valid W-9 or W8-BEN on file with Citibank, (6) have received the offer via direct communication from Citi, (7) and perform the qualifying activities below (“Eligible Customers”). “New-to-Citibank Customers” must not be current owners or signers on a Citibank consumer checking account or have been the owners or signers on a Citibank consumer checking account within the last 180 calendar days from the date of enrollment in the Cash Offer.
As you can see below, one of the tricky requirements is the one related to the debit card purchases.
Qualifying purchases are those made using either your Citibank Debit Card or your Citibank ATM Card to buy goods and services and are net of returns and other adjustements. ATM withdrawals, cash back and bill payments do not qualify. Net qualifying purchases are determined in Citibank sole discretion and must post to the new account within 60 days of account opening.
So, for example, if you use your Citibank Debit Card to pay your electricity, cell phone, cable, Internet or another utility bill, those bill payment transactions will not be counted.

Craig
Craig

i got this offer in the mail. Liked the $700 for $1000 debit but then i saw the minimum balance of $200,000 to avoid monthly fee and put the mailer right in the trash can.

KP
KP

Fee is worth eating on the $700 one l think.

LBP
LBP

LMAO…

Dean
Dean

Any data points out there regarding getting the bonus and then cancelling within, let’s say, 6 months?

Going for the citigold nets 60k points for 6 x $30 = $180 maintenance fee.

That’s 0.3 cents per point. I guess similar math for the AA offer.

Eduardo Baez
Eduardo Baez

Dean,
You will earn no points for using your Citibank Debit Card with this offer.
Also, the $30 monthly fee you are talking about is for the Citi Priority Account Package if you do not maintain a minimum combined average monthly balance of $50,000. There is no monthly fee for accounts in the Citigold Account Package. If you do not maintain a minimum combined average monthly balance of $200,000, your Citigold Account Package will be automatically converted to the Citi Priority Account Package and your accounts will be subject to the terms and conditions then in effect for that package.
So, if you do not park $200,000 until you meet all Citigold Account Package bonus offer requirements, your account will be automatically downgraded to the Citi Priority Account Package and you will be eligible only for the $500 bonus as long as you meet the offer requirements for the Citi Priority Account Package.

Ben
Ben

$500 bonus seems pretty good, even if you have to pay a couple $30 monthly fees.

Or, move $50k in investments (since retirement accounts can qualify)… other brokerages would offer incentives for that transfer too, but only about $200.

Anon
Anon

Will a money order count as a “debit card purchase”?

Anon
Anon

Update: A money order did not trigger the bonus. Somewhere in the terms, purchasing another “financial instrument” does not qualify.

Anon
Anon

After a rep told me that a money order would not work, as it was a “financial instrument,” i asked for the case to be escalated. I received a secure message saying that i would receive the bonus 90 days after qualifying actions were processed and that the purchase of the MO did qualify.

I did end up receiving the bonus about a week before 90 days.

Anon
Anon

Update: Account was automatically downgraded to Priority Account, so to avoid the fee, I called in and downgraded to the Basic Account. It will be possible to downgrade to the Access account on April 16th. With the Access account it is easier to avoid monthly fees(only requires a bill payment OR minimum balance OR DD).

pingsensei
pingsensei

debit card through venmo will trigger “debit card purchase”

John
John

can anyone confirm this from experience?

James
James

Money order in fact did trigger the debit card purchase for me.

Sparky
Sparky

Sounds like a money order would count- 2. Qualifying purchases are those made using either your Citibank Debit Card or your Citibank ATM Card to buy goods and services and are net of returns and other adjustments. ATM withdrawals, cash back and bill payments do not qualify. Net qualifying purchases are determined in Citibank’s sole discretion and must post to the new account within 60 days of account opening. Qualifying card purchases are on a per account basis and based upon all card purchases by all customers when the new checking account is the primary account linked to the customer’s Citibank Debit Card or Citibank ATM Card.

Sparky
Sparky

I received an email around 3/8 that the TYP points will be credited to the account in 30 days. No points credited yet. I plan to redeem them by calling in for the mortgage/student loan check option.

Sparky
Sparky

50k TYP posted by 3/27/18

Sparky
Sparky

Two player mode didn’t work for a second offer code I received in the mail. I got an email under the wifes account a week or two after opening- You are not eligible because you did not receive the offer via direct communication from Citi.

Alexey
Alexey

I have opened Priority Package to get a $500 bonus. Any idea if I can downgrade it to a basic package to avoid monthly fee after all requirements is done while waiting for a bonus to post?

John
John

did you try it?

Alexey
Alexey

I didn’t. But no monthly fee hit the account yet. And I just received the bonus, about 3.5 month after opening the account. Going to downgrade now.

Duke I.
Duke I.

How soon does Citi payout bonuses to downgrade before being charged a monthly fee?

Mr G
Mr G

Oh James, pull up the Rolls and bring my briefcase filled with $200,000. I have a $700 bonus to catch.

ChaseJuggler
ChaseJuggler

This deserves comment of the month.

KP
KP

Debit card purchases are wack when the amounts are this high but I could make it work with rent payments via Plastiq easily. But then ‘I’d have to figure out how to hit minimum spend on my Hyatt and SPG cards so I’d have to pass on the $700 one. $300 one is doable… But those fees though.

crustymech
crustymech

the key is MO. Difficult with prepaid debit cards, easy at USPS with legit debit card.

Although I just saw a comment above me reporting that a mO didn’t trigger it for him

Alexey
Alexey

Money orders worked for me. Bought two MO in Walmart a few days apart for a total little more then $750 to get $500 bonus.

sonia
sonia

how long after your transactions did you get your bonus?

eclipsor
eclipsor

I knocked it out in one Serve load at walmart

Jp
Jp

Does serve load still work?

pingsensei
pingsensei

use venmo and paid your SO 🙂

KP
KP

Why didn’t I think of that lol

sonia
sonia

how long after your transactions did you get your bonus?

James
James

For the Priority Account, does having a Citi Mortgage count as a eligible or linked account balance?

Steve
Steve

It took 8 calls to get $300 bonus from Citi.

crustymech
crustymech

I had this offer mailed to me, but they are not giving me the bonus, saying I needed to deposit $50k to get it. Anyone else have that problem? It should just be $50k to avoid the fee…

Steven
Steven

$50k deposit was not a requirement, so you should get the bonus assuming you met the bill pay and debit card spending requirement. I’d call customer service (number on back of debit) and explain to them how you met the checking bonus requirements.

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