Offer at a glance
- Maximum bonus amount: $300
- Availability: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL
- Deposit required: $15,000
- APY: 0.07% APY
- 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: Avoidable
- Early account termination fee: None
- Household limit: None
- Expiration date: 4/16/24
Contents
The Offer
- Citizens Bank is offering a $300 bonus when you open a new savings account and complete the following requirements:
- Deposit a minimum of $15,000 not already on deposit with Citizens within 10 days of account opening and maintain balance until:
- June 30, 2024 for accounts opened in March
- July 31, 2024 for accounts open in April
- You must also have an existing Citizens Quest Checking account or open a new Citizens Quest Checking account between 3/26/24 and 4/16/24
- Deposit a minimum of $15,000 not already on deposit with Citizens within 10 days of account opening and maintain balance until:
The Fine Print
- To earn a $300 bonus, open your first new savings account between 3/26/24 and 4/16/24 and have a minimum of $15,000 not already on deposit with Citizens post within 10 days of account opening and remains on deposit until date stated in the table below.
- You must also have an existing Citizens Quest Checking account or open a new Citizens Quest Checking account between 3/26/24 and 4/16/24.
- Qualifications: Primary signer on the new savings account may not be or have been a signer on any Citizens personal savings account within the previous six months.
- Your new savings account and your new or existing checking account must have a balance greater than zero and remain open and active through the payout date stated in the table below to qualify for this offer.
- Eligibility: Customer must open their first new savings account via Citizens’ 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. Only one savings account is eligible for a bonus. Offers may be withdrawn without notice and cannot be combined with any other savings offer. Offer eligibility is determined at Citizens’ sole discretion. Payout: Bonus will be deposited to the checking account by the date stated in the table below and will be labeled as “Balance Builder Bonus”. If your checking account is closed prior to payout date stated in the table below, then your new savings account will also no longer be eligible for this offer. 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
Monthly Fees
This account has no monthly fee as long as you have a Quest checking account.
Early Account Termination Fee
As far as we know there is no early account termination fee.
Our Verdict
You can get a $400 checking bonus if you don’t already have a checking account with Citizens Bank. Just keep in mind you need a Quest checking account and that’s more difficult to keep fee free. At minimum you’d need the funds in the account for 3 months, this works out to be an annualized return of 8%. Slightly better than high yield savings accounts but probably not worth it for most people due to the harder to keep fee free account.
Hat ti to Phil P
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
What a joke — this promotion never paid out. I called to ask why and CS cannot even locate the promo even though I have the URL and saved screenshots of the promo detail page. They insist they have no record on their end and I need to step into a branch to see if they can fix it. Of course, the nearest branch is hours away.
So, I’m out of luck and out of the interest on $15,000 that sat in their worthless savings account for three months.
I am looking for DPs on Citizens Bank bonuses both checking and savings. Can one withdraw most of the funds after the last DD? Are they sensitive to this? Not going to close until 6 months or so after bonus posts.
New/different offer for new or existing savings accounts – $250 or $500 for holding 5K or 10K for 5mo: https://www.citizensbank.com/promo/savings/apriloffer2.aspx
William Charles
To Earn Bonus: You must, 1) have an existing personal checking account or open your first new personal checking account between 4/17/24 and 4/30/24 and, 2) have an existing personal savings account or open your first new personal savings account between 4/17/24 and 4/30/24 and have the required minimum total deposit (with money not currently on deposit with Citizens) post to one savings account between 4/17/24 and 4/30/24. For account holders with more than one savings account, the minimum total deposit amount must be made into a single savings account and funds must then remain on deposit until September 30, 2024. Deposits between $5,000-$9,999.99 will receive a $250 bonus or deposits of $10,000 or more will receive a $500 bonus.
Qualifications: Your new or existing accounts must have a balance greater than zero and remain open and active through the payout date stated in the table below to qualify for this offer. Savings account must maintain the required balance until September 30, 2024. Money market accounts, CDs, and Citizens Access accounts are excluded.
https://www.doctorofcredit.com/ymmvct-de-ma-mi-nh-nj-ny-oh-pa-ri-vt-va-d-c-md-fl-citizens-bank-500-savings-account-bonus-with-10000-deposit/
I just tried to open the One Deposit Checking account to take advantage of the bonus and was denied, I opened Wells Fargo Checking a few days ago and Chase Checking and Savings about a month ago, could that be why?
I am in a dispute now with Citizens because they are requiring me to visit a branch to “unlock” my online checking account. They have deposited the $400 bonus but when I tried to transfer some money, they denied me that action. Customer service supervisor kept insisting I visit a branch but admitted Citizens has no branches in my area. I asked that they send me a check and close the account and initially they agreed but then said the check would be too large of an amount ($4319). Supervisor eventually hung up on me. I opened a case with the FDIC just yesterday but in the meantime they have my money. BE CAREFUL dealing with this bank. There customer service is foreign based and of little help.
FDIC is not the right agency! You need to open up the case with “Commissioner od Banks” in your respective State. They will send the notice to Citizens and give them 30 days to fix the problem!
Just be aware that Quest checking requires minimum $5k deposit by the end of each statement cycle, their statement due date is usually at first Fri or 5th of the month. Also, account balance cannot be 0 otherwise it will be closed.
I got a mailer for $800, it has a unique code on it though. But the requirements very easy – save $500 a month for 3 months, and have a balance of $1500 at the end. Also have a DD post to checking account.
If you aren’t using it, Can you share it with me?
I think it’s funny the apr stays the same wether you deposit $1, or $3 million lol. You’d think they could bump it to 0.08
The USPS mover packet offer is way better for the same $300 with only $500 coming into the savings for 3 months. Of course, your local USPS must have the offer in the packet and this works when doing checking and saving combo.
They are commonly available on eBay too. Not free but pretty cheap way to get the offer.
I got the mailer but the checking component is only for $300 as opposed to $400 checking offer linked in the post. Can you stack both savings bonuses?
I don’t think you can stack as the fine print states only one savings offer. In terms of APY the 600 mailer offer is better return. But , if u have cash to spare , go for the 15k into savings for the extra $300 by also doing the $400 for checking. You have to open the quest checking though.
I recently got a $700 mailer with identical terms as the $600 mailer.
What’s the expiration date on the $700 mailer? Might be a new batch going out
5/16
Was worth waiting. Just got a $800 mailer same requirements
Just got the same today, any idea is this the highest one?
This is a trash offer.