Citibank is running a promotion for new business checking accounts. The offer is available on a few states and you need to into a branch to open the account.

Offer Requirements

To qualify to earn a $500 cash bonus, you must open a new Citibank business checking account account by 9/30/17.

• 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
• You need to also enroll in one of the following cash management services:
  • Citi merchant services
  • CitiBusiness Online ACH Origination
  • Citibank Remote Check Deposit
  • Payroll Manager

The offer is available to current Citibank business checking customers.

Bonus will be credited to your Citibank Business Checking Account within 90 days from the end of the month in which you complete all offer requirements.

Eligibility

The offer is available in CA, CT, D.C., FL, IL, MD, NJ, NV, NY, VA.

Both new and existing business customers are eligible.

Fees

CitiBusiness Streamlined Checking Account has a monthly fee of $15 that is waived with an average monthly balance of $5,000 or more.

There’s no early account termination fee.

The problem with this bonus is that it also requires you to signup for a cash management service. These services usually come with a monthly fee, so you need to check those fees to see if it makes sense for you. You will need to keep the account open for about 4 months.

Guru’s Wrap-Up

If you really need any of those cash management services then this is a great bonus, but otherwise, those fees will seriously eat into your bonus. It also requires a large deposit of $50K but you don’t need to keep the money in the account.

If this bonus is not for you, then you can check our full list of available bank bonuses.

Offer Details

• No link
• Bonus: $500
• Account Type: CitiBusiness Streamlined Checking
• Availability: CA, CT, D.C., FL, IL, MD, NJ, NV, NY, VA
• Expiration Date: 9/30/2017
• Inquiry Type: Soft pull
• Credit Card Funding: No
• Direct Deposit Requirement: No
• Other Requirements: Deposit of $50,000 or more in new-to-Citibank funds
• Monthly Fee: $15 (waived with $5K balance)
• Closing Account Fee: No

HT: DoC

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