[Expired] [Targeted] Citi Checking Bonus Up To $1,500 Cash

Deal has expired, click here for the best current checking bonuses, including other Citi checking bonuses.

Offer at a glance

• Maximum bonus amount: $1,500
• 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: September 30th, 2018

The Offer

No direct link, offer sent out via snail mail

• Citi has sent out an offer for up to $1,500 when you open a new  checking account. The bonus you receive depends on what account package you open and how much you deposit. Deposit needs to be made within 30 days and must be maintained for 60 days :
  • $1,500. Open a Citigold Account Package and deposit $200,000
  • $750. Open a Priority Account Package and deposit $50,000
  • $500. Open a CitibankAccount Package and deposit $15,000
  • $200. Open a Citi Basic Bank Account Package and deposit $5,000

The Fine Print

• Valid until September 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 ($1,500 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 ($700 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 ($500 bonus)

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

Citi Basic Banking Account Package ($200 bonus)

This account has a $12 monthly fee. Waived if any of the following is done:

• Make one qualifying direct deposit and one qualifying bill payment per statement period OR
• maintain a $1,500+ combined average monthly balance in eligible linked accounts OR
• account owner is 62 or older.

Early Termination Fee

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

Our Verdict

Citi rates are basically 0% APY, or close enough to it. To get this bonus it looks like you just need to deposit the funds and maintain them for 60 days, you’ll then probably need to keep the account open for another month or two for the bonus to actually post. So we will just assume funds need to be in there f0r 90 days. The effective rates then become:

• $1,500 bonus: ~3% APY
• $750 bonus: ~6% APY
• $500 bonus: ~13.3% APY
• $200 bonus: ~16% APY

As you can see the APY improves dramatically as the bonus drops, but the amount of funds you’re getting that high APY on also decreases. I’d say only the $500/$200 bonuses are worth doing, those are very similar to the public bonuses we see.

Big thanks to reader, Kyle A 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?
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