Citibank has two new bonuses for checking accounts, $400 and $600. Both bonuses require you to keep large amounts in the accounts to get the bonus and also to keep the account fee-free. But there’s no direct deposit requirement and the offer is available online, nationwide.

Offer Page

Citi Priority Account Package – $600 Offer

• Open a new checking and savings account in the Citi Priority Account Package between 4/1/18-6/30/18.
• Within 30 days of opening your account deposit $50,000 new-to-Citibank funds into the checking or savings account. A minimum of $5,000 must be in the checking account and a minimum of $100 must be in the savings account.
• Maintain a minimum balance of $50,000 in your eligible linked checking and savings account for 60 days.
• Get $600 deposited to your account!

Citi Account Package – $400 Offer

• Open a new checking and savings account in the Citibank Account Package between 4/1/18-6/30/18.
• Within 30 days of opening your account deposit $15,000 new-to-Citibank funds into the checking or savings account. A minimum of $1,500 must be in the checking account and a minimum of $100 must be in the savings account.
• Maintain a minimum balance of $15,000 in your eligible linked checking and savings account for 60 days.
• Get $400 deposited to your account!

Fees

Both accounts come with monthly fees that can be waived but require large amounts.

• The Citi Priority Account Package – $30 monthly service fee waived when you maintain a balance of $50,000 or more in your eligible deposits, retirement accounts, and investments.
• The Citi Priority Account Package – $25 monthly service fee waived when you maintain a balance of $10,000 or more in your eligible deposits, retirement accounts, and investments.

Guru’s Wrap-Up

This is better than a similar bonus they had last year with $300 and $500 bonuses. The first offer now givea you $600 but requires a deposit of $50,000 within the first 30 days and you need to keep the money in the account for at least 60 days. You then need to have that same balance in your account to waive a $30 monthly fee.

The second offer gives you less, just $400, but requires a deposit of $15,000 within the first 30 days and you need to keep the money in the account for at least 60 days. You then need to have only a balance of 10,000 in your account to waive a $25 monthly fee. That’s why this is probably the best offer.

Also, you should know that Citi is often difficult with giving out bonuses and you might need to contact them in order to receive your bonus. That means that it might take longer for the bonus to post and you might have your money tied up longer than expected. With your money tied for 3-4 months, I think its best to go for the $400 bonus in this case, as you would be losing out on too much interest on a $50,000 balance. It should be worth it if you complete all the requirements in time and stay on top of them to receive the bonus as fast as possible. The faster you close the account the better, and there’s no closing fees.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

HT: DoC