Citibank has a new bonus offer for new checking accounts. There’s two offers, one for $500 and the other for $300 and they require you to keep large amounts in the accounts to get the bonus and also to keep the account fee-free. You also need a direct deposit for the first two months of account opening.
Citi Priority Account Package – $500 Offer
- To qualify to earn a $500 cash bonus, you must open a new eligible consumer checking account in The Citi Priority Account Package between 4/15/17 – 6/30/17.
- Within thirty (30) days, make a qualifying deposit of $50,000 or more in new-to-Citibank funds into the new checking account or a new or existing Citibank Savings Plus Account or Citi Savings Account, and maintain a minimum balance of $50,000 for sixty (60) consecutive calendar days following the date when you made the qualifying deposit.AND
- Within thirty (30) days, 1 qualifying Direct Deposit must post to the new checking Account each month for 2 consecutive calendar months after opening the new checking account.
Citi Account Package – $300 Offer
- To qualify for a $300 cash bonus, open a new eligible consumer checking account in The Citibank Account Package by 6/30/2017.
- Within thirty (30) days, make a qualifying deposit of $15,000 or more in new-to-Citibank funds into the new checking account or a new or existing Citibank Savings Plus Account or Citi Savings Account, and maintain a minimum balance of $15,000 for sixty (60) consecutive calendar days following the date when you made the qualifying deposit.AND
- Within thirty (30) days, 1 qualifying Direct Deposit must post to the new checking Account each month for 2 consecutive calendar months after opening the new checking 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
Both offers are similar. The first offer give you $500 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 $300, 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, which will make the first offer worse with each passing month.
You’ll also need to make direct deposits for these bonuses, something that wasn’t required in the past with similar bonuses.
Many people have reported trouble with Citi checking bonuses, but $300 is a large chunk of money. 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.
HT: Doctor of Credit
