Citi $300/$325/$450 Checking Bonus

Update 10/11/24: Another variation for $450 bonus but requires $6,000 in direct deposits.

Update 9/2/24: There is another $400 bonus but requires a $10,000 deposit that must be maintained for 45 days.

Update 7/11/24: There is another variation for $325 but requires $3,000 in direct deposits.

Update 7/9/24: Extended until 10/8/24

Offer at a glance

• Maximum bonus amount: $300
• Availability: Nationwide
• Direct deposit required: Yes, $1,500+
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees: $12, avoidable
• Early account termination fee: None
• Household limit: None listed
• Expiration date: 7/8/24

The Offer

Direct link to offer

• Citi is offering a $300 checking bonus when you open a new checking account and complete the following requirements:
  • Open a new eligible Citi® Checking account with Enhanced Direct Deposits, and enroll in this offer by applying directly from this page. Offer valid from 1/10/24 to 7/8/24.
  • Deposit at least two (2) Enhanced Direct Deposits directly into your new checking account within 90 calendar days from account opening. Your total combined Enhanced Direct Deposits must equal $1,500 or more.
  • Your cash bonus will be deposited into your open, eligible Checking Account within 30 days after you successfully complete all required activities.

The Fine Print

• An EDD is an electronic deposit through the Automated Clearing House (“ACH”) Network of payroll, pension, social security, government benefits and other payments to your checking or savings account. An Enhanced Direct Deposit also includes all deposits via Zelle® and other P2P payments when made via ACH using providers such as Venmo or PayPal. Teller deposits, cash deposits, check deposits, wire transfers, transfers between Citibank accounts, ATM transfers and deposits, mobile check deposits, and P2P payments using a debit card do not qualify as an Enhanced Direct Deposit. (Note: see this comment about Zelle.)
• So long as you have not owned a Citi checking account in the last 365 days, meet Tax Requirements, and are at least 18 years old, you can apply to participate in the Enhanced Direct Deposit Checking Acquisition Offer (“Enhanced Direct Deposit Offer”) (click the Offer, Product & Pricing Information link at the top of the fine print to see this)
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Regular & Access Checking fee waived:

• in the month of account opening and for 3 months after account opening or
• each month the account has $250+ in Enhanced Direct Deposits

Early Account Termination Fee

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

Our Verdict

This is better than the $200 checking bonus we previously saw. There is also a checking bonus for up to $2,500 but that requires huge deposits. This smaller bonus will be a better option for most people as those huge deposits aren’t required. I do think now that this is $300 it’s worth doing and we will add it to our best bank bonus page. You can see the definition of an enhanced direct deposit here.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times