Citi $300/$700/$1,500 Personal Checking/Savings Bonus – Available Nationwide & Direct Deposit Not Required

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Update 1/7/21: Bonus is back, sadly the $400 bonus has been reduced to $300. The $200 bonus has been removed entirely. $700 is still the same, as is $1,500. Might be worth waiting for the better offers to return if you’re aiming for those tiers.

Offer at a glance

  • Maximum bonus amount: $700
  • Availability: Nationwide
  • Direct deposit required: None (Required for $500 bonus)
  • Additional requirements: Deposit $5,000/$15,000/$50,000 & maintain for 60 days
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: None
  • Monthly fees: $25-$30, avoidable
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: June 30th, 2018 September 30th, 2018 December 31st, 2018 March 31st, 2019 June 30th, 2019 December 31st, 2019 March 31st, 2020 January 5th, 2021

The Offer

Direct link to offer | Direct link to Citigold offer

  • Citi has three sign up bonuses:
    • Earn $200 when you open a new checking account in the Basic Banking package and complete the following requirements:
      • Within 30 days of opening your account deposit $5,000 new-to-Citibank funds into the new checking account.
      • Maintain a minimum balance of $5,000 for 60 days
    • Earn $300 when you open a new checking and savings account in the Citi Account Package and complete the following requirements:
      • Within 30 days of opening your account deposit $15,000 new-to-Citibank funds into the checking or savings account. Both checking & savings accounts need a non zero balance.
      • Maintain a minimum balance of $15,000 in your eligible linked checking and savings account for 60 days
    • You can also get an extra $100 on the $400 bonus when you complete one qualifying direct deposit each month for two consecutive months within 60 days of account opening
    • Earn $700 when you open a new checking and savings account in the Citi Priority Account Package and complete the following requirements
      • Within 30 days of opening your account deposit $50,000 new-to-Citibank funds into the checking or savings account. Both checking & savings accounts need a non zero balance.
      • Maintain a minimum balance of $50,000 in your eligible linked checking and savings account for 60 days
    • Earn $1,500 when you open a new checking and savings account in the Citigold Account Package and complete the following requirements
      • Within 30 days of opening your account deposit $200,000 new-to-Citibank funds into the checking or savings account. Both checking & savings accounts need a non zero balance.
      • Maintain a minimum balance of $200,000 in your eligible linked checking and savings account for 60 days

 

 

The Fine Print

  • “Eligible Customers” are New-to-Citibank Customers.
  • Zelle transfer does not constitute as New to Bank funds
  • Eligible Customers” are New-to-Citibank Checking Customers who have not been a signer on a Citibank checking account within the past 180 days
  • Must have a  valid W-9 or W-8 BEN on file with Citibank and are not subject to back-up withholding.
  • Fiduciary, estate, business and or trust accounts are not eligible for the $600 Checking and Savings Offer even if they otherwise meet the definition of Eligible Checking or Eligible Citi Savings Account. However, trust accounts that are a Living Trust and Custodial accounts are eligible
  • Bonus will post within 90 days from the date you complete all of the requirements
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Citi Basic Account Package $12 ($200 Bonus)

The fee is waived on this account if you do any of the following:

  • Make one qualifying direct deposit per statement period and one qualifying bill payment per statement period or
  • Maintain a $1,500+ combined average monthly balance in eligible linked accounts
  • Fee also waived when first listed account owner is 62 or older.

Citi Account Package $25 ($400 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 Priority Account Package ($700 Bonus)

  • Fee increases to $30 and requires $50,000 in combined average monthly balances to remain fee free for the $600 bonus

Citigold Account Package ($1,500 bonus)

This account does not have any monthly fees, but if you don’t maintain $200,000 in balances your account will convert to a Citi Priority Account package

Early Termination Fee

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

Our Verdict

They recently had the same bonus, this time both bonuses are $100 higher (before it was $300/$500). Keep in mind you’ll need to have the $15,000/$50,000 deposited for at least 60 days, realistically it’s longer as it needs to post to your account and that can take up to 90 days after the requirements are met (you would reduce your deposit to $10,000 just to keep the account fee free). Here is the interest you’d miss out on compared to other high interest savings accounts if you had $15,000 in there for 60 days:

  • 0.1%: ~$2.5
  • 1%: ~$25
  • 3%: ~$74
  • 5%: ~$123

The same but for the $50,000 account:

  • 0.1%: ~$8.2
  • 1%: ~$82
  • 3%: $246
  • 5%: $410

The $400 bonus is worth doing, but I don’t think the $600 bonus is worth considering. Even if you pay the $25 fee for three months on the $400 bonus you’re still making $325 for $15,000 deposited for 60 days, not a bad return (~13% APY). I’ll be adding the $400 bonus to our list of the best checking account bonuses. The $200 might be better for people that don’t have access to $15,000 to tie up. It’s possible to transfer funds over to the Citi Accelerate account after some time.

Big thanks to readers, Grant, CJ & Mattwho let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

Post history:

  • Update 7/1/20: Extended until 01/05/2021
  • Update 5/21/20: This had stopped working for a few days online, it’s now working again. Hat tip to Betelgeuse
  • Update 4/1/20: Deal has been extended until 6/30/2020. $500 offer no longer available.
  • Update 1/5/2020: Added $1,500 Citigold bonus as well. Hat tip to FM
  • Update 1/3/2020: Deal is back and valid until March 31st, 2020, this time the $500 bonus has returned.
  • Update 10/1/19: Deal has been extended and valid until December 31st, 2019. $500 bonus is no longer available and the $600 bonus has been upgraded to $700.
  • Update 7/2/19: Deal has been extended until September 30th, 2019. Also says ““Eligible Customers” are New-to-Citibank Customers. so not sure if this can be churned anymore. Update: According to this PDF “New–to–Citibank Customers” are customers who have not been an owner of a Citibank checking account within the last 180 calendar days. so should be fine.
  • Update 4/1/19: Deal has been extended until June 30th, 2019.
  • Update: 1/2/19: Deal is back and valid again until March 31st, 2019. Hat tip to reader Bo
  • It’s worth noting people have been having a lot of issues with this bonus not automatically posting.
  • Update 10/02/18: Deals are back and valid until December 31st, 2018. Same links.
  • Update 07/01/2018: Deal is back and available until September 30th, 2018. Thanks to reader RB for finding the link.





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