Citi Giving Out up to $700 Bonus for New Accounts

There’s a new Citi offer that can get you up to $700 in cash with a new checking account. There’s actually three new bonuses for $200, $400 or $700. All bonuses require you to keep large amounts in the accounts. But there’s no direct deposit requirement and the offer is available online, nationwide. There’s also an offer for $1,500 for a Citigold Package that requires a balance of $200,000 or more.

PROMO PAGE

Citi Priority Account Package – $700 Offer

• Open new eligible checking and savings accounts in the Citi Priority Account Package during the offer period 10/01/2019 to 12/31/2019.
• Within 30 days of opening your account, deposit $50,000 in New-to-Citibank funds between the new checking and savings accounts.
• Maintain a minimum balance of $50,000 between the checking and savings accounts for 60 consecutive calendar days.

Citi Account Package – $400 Offer

• Open new eligible checking and savings accounts in the Citibank Account Package during the offer period 10/01/2019 to 12/31/2019.
• Within 30 days of opening your account, deposit $15,000 in New-to-Citibank funds between the new checking and savings accounts.
• Maintain a minimum balance of $15,000 between the checking and savings accounts for 60 consecutive calendar days.

Citi Basic Account Package – $200 Offer

• Open a new eligible checking account in the Basic Banking Package during the offer period 10/01/2019 to 12/31/2019.
• Within 30 days of opening your account, deposit $5,000 in New-to-Citibank funds into the new checking account.
• Maintain a minimum balance of $5,000 for 60 consecutive calendar days.

Eligibility

• Offer is for New-to-Citibank Customers
• “New–to–Citibank Customers” are customers who have not been an owner of a Citibank checking account (and probably savings as well) within the last 180 calendar days. See terms.
• Fiduciary, estate, business and or trust accounts are not eligible for this bonus
• Offer is available nationwide.

Fees

All 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.
• Citi 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.
• Citi Basic Account Package – $12 monthly service fee waived when you maintain a balance of $1,500 or more in your eligible deposits, retirement accounts, and investments.

Guru’s Wrap-Up

This Citi $700 bonus is better than a similar bonus they had until last month. The first offer now gives you $700 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.

Then the last one gets you just a $200 bonus which is still a decent amount. You need to deposit $5,000 in 30 days and keep that balance in the account for 60 days. This account has a $12 monthly fee that is waived with a $1,500 balance.

Also, you should know that Citi is often difficult with giving out bonuses. 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 it gives you the best APR. But even with the $700 offer, you get about 5% for 3-4 month, which is still great. 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. Last time around, it took 112 days for my bonus to post from the day I made the deposit requirement. 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.

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