[CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL] Citizens Bank $400 Checking Bonus

Update 3/26/25: Deal is back until 7/3/2025. 

Update 3/13/25: Extended to 3/31/25.

Update 1/2/25: Bonus has been extended until 3/13/25

Update 11/6/24: Better version that only requires a $1,000 direct deposit.

Update 11/5/24: Extended to 1/16/2025

Update 9/25/24: Deal is back, just requires a $1,000 direct deposit for the full bonus. Hat tip to reader Peek

Update 6/20/24: Deal is back through 08/01/24. Hat tip to reader ShawntheShawn

Offer at a glance

• Maximum bonus amount: $400
• Availability: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL
• Direct deposit required: Yes, $500+
• Additional requirements: See below
• Hard/soft pull: Soft pull as long as you opt out of over draft protecton.
• ChexSystems: Mixed data points
• Credit card funding: None
• Monthly fees: $9.99, avoidable
• Early account termination fee: None
• Household limit: None
• Expiration date: November 26, 2020 10/28/21 4/14/2022 6/9/2022 1/20/23

The Offer

Direct link to offer

• Citizens Bank is offering a bonus of up to $400 when you open a new checking account. Bonus is broken down as follows:
  • Get $400 when you open your first new personal checking account and make a direct deposit of $1,000 or more within 60 days.
  • Earn $2 for every debit card purchase you make, up to $100 within the next 60 days.

The Fine Print

• To earn a $300 bonus, open your first new personal checking account between 08/17/20 to 11/26/20 and have at least one single direct deposit of $500 or more post to your new checking account within 60 days of account opening.
• To earn up to $100: Get paid $2 per qualified debit transaction (up to $100) that post and clear your new checking account within 60 days of account opening.
• Qualifications: Primary signer on the new checking account may not be or have been a signer on any Citizens Bank personal checking account within the previous six months.
• The new account must be open and in good standing on the payout date stated in the table below to qualify for this offer.
• Direct Deposit is recurring income electronically deposited into your Citizens Bank checking account and may include salary, pension, and other regular income.
• Qualified debit card transactions include signature and PIN-based debit transactions in person directly at a merchant location or in app or online merchant sites.
• Only one debit card per checking account eligible for bonus. Online Bill Payments, Zelle® transactions and ATM transactions do not qualify.
• Eligibility: Customer must open their first new checking account via Citizens Bank’s online account opening system accessed by clicking on one of the links on this page.
• Customer should print this screen for their records. Customer will only be paid a one-time bonus for this program.
• Offers may be withdrawn without notice and cannot be combined with any other checking offer.
• Payout: Bonus will be deposited to the new checking account by the date stated in the table below and will be labeled as “Balance Builder Bonus”.
• Bonus will be reported to the IRS for income tax purposes.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Need to sign up for online statements otherwise there is a $3 fee.

Monthly Fees

Citizens Bank One Deposit Checking Account $9.99 Monthly Fee

The One Deposit checking account comes with a $9.99 monthly fee. Fee is waived by making one deposit each statement period. (According to this comment they really do count any deposit – even a transfer from another Citizens Bank account will trigger this.)

Early Account Termination Fee

As far as we know there is no early account termination fee.

Our Verdict

We’ve seen a $600 bonus in the past, but that required a $15,000 deposit to get the full bonus. This is a better option for those without that extra money sitting around. We will add this to our list of the best bank account bonuses.

Hat tip to reader Rob

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

Post history:

• Update 4/18/24: Deal is back through 6/6/24 at this new link (ht reader Meg). After signing up for the checking, you can then go and do the $500 Citizens savings bonus.
• Update 3/18/24: There is another variation that is a $400 bonus and only requires a $500 direct deposit (no debit card transactions for the full $400 bonus). Doesn’t show for everybody
• Update 12/28/23: Deal is back until 04/11/2024. Hat tip to ShawntheShawn
• Update 12/15/23: Extended until 02/16/2024.
• Update 10/30/23: Back until 12/31/23.
• Update 9/8/23: Extended until 10/26/23.
• Update 7/6/23: Extended again to 8/31
• Update 6/19/23: Reports of a $500 bonus in branch.
• Update 5/22/23: Extended to 7/6/2023
• Update 3/16/23: Extended until  5/11/2023.
• Update 1/14/23: Extended until 3/16/2023.
• Update 11/27/22: Available again until 1/20/23.
• Update 9/30/22: Extended until 11/24/2022.
• Update 8/6/22: Deal is back and valid until 9/29/2022.
• Update 6/10/22: Deal is back and valid until 8/4.
• Update 3/27/22: Deal is back and valid until 6/9/2022.
• Update 2/21/22: This page shows what HSBC branches are transitioning, this should mean the following states are available: D.C., MD, FL
• Update 2/21/22: Available again, keep in mind more states available. If you sign up successfully in a state not listed please let us know so we can add it to the post. Hat tip to Kamil Sultan
• Update 2/17/22: More states are now eligible for this offer. This is due to the HSBC branches being bought.