Offer at a glance
- Maximum bonus amount: $500
- Availability: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL
- Deposit required: $20,000
- APY: 0.07% APY
- Hard/soft pull: Soft pull as long as you opt out of overdraft protection.
- ChexSystems: Mixed data points
- Credit card funding: None
- Monthly fees: Avoidable
- Early account termination fee: None
- Household limit: None
- Expiration date: 11/27/24
Contents
The Offer
- Citizens Bank is offering a savings bonus of $250-$500.
- Get $250 when you make one single deposit of at least $10,000 in new money to your personal Citizens Savings account and maintain the savings balance through March 5. Must have an existing or open a new personal Citizens Checking account to qualify
- Get $500 when you make one single deposit of $20,000 or more in new money to your personal Citizens Savings account and maintain the savings balance through March 5. Must have an existing or open a new personal Citizens Checking account to qualify.
The Fine Print
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To Earn Bonus: You must, 1) have an existing or open a new personal Citizens Checking account between 11/12/24 and 11/27/24 and, 2) have an existing or open a new personal Citizens Savings account between 11/12/24 and 11/27/24 and, 3) have one single deposit of at least $10,000/$20,000 or more in new money post into one personal Citizens Savings account by 12/6/24 and, 4) your savings balance as of the end of the day prior to the qualifying single deposit plus qualifying single deposit ($10,000/$20,000) must be maintained through 3/5/25. The qualifying deposit of $10,000.00-$19,999.99 is eligible for a $250 bonus, or qualifying deposit of $20,000.00 or more is eligible for a $500 bonus. If the qualifying deposit at the end of the retention period drops into the lower tier, you will be eligible for the lower bonus.
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Qualifications: New money is external funds that are not currently on deposit with Citizens or Citizens Access. The participating personal Citizens Savings account must remain open and active AND the participating personal Citizens 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.
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Eligibility: Only one personal Citizens Savings account is eligible for a bonus and only one customer on the savings account is eligible for a bonus. Customer will only be paid a one-time bonus for this program. Offers may be withdrawn without notice. Offer eligibility is determined at Citizens’ sole discretion.
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Payout: Bonus will be deposited to your personal Citizens Checking account by the date stated in the table below and will be labeled as “Balance Builder Bonus”. If your personal Citizens Checking account is closed prior to payout date stated in the table below, then your personal Citizens 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
One Deposit Savings from Citizens® has a $4.99 fee this is waived with any deposit.
Early Account Termination Fee
As far as we know there is no early account termination fee.
Our Verdict
Nice that this works for existing customers as well. Both deals work out to be 10% APY annualized if we assume a three month hold period (will be slightly longer than this, so not as good). Worth doing if you need to tie up some money for awhile. Will add to the best savings bonuses.
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
Can this ($500 savings) be stacked with Checking-only ($400) promo here https://www.citizensbank.com/promo/checking/bau-2024-d2.aspx, for total of $900 bonus?
I opened both accounts.
Should be able to.
This bank seems to like to do bonuses in general.
And unless terms state you can’t already have a checking/savings account for a particular bonus, then whatever offer you go with should work.
So if I already have both checking and savings, I just need to make the single deposit by Dec 6, correct?
Yes, according to the terms that I read.
Just stopped by my local branch, it was super easy to open with no/any opening deposit. This is the way to go and being able to wait to push the $10k/$20k in much closer to 12/6.
I have my real checking account at Citizens, so it took <10 minutes. New account showed right up on my app, the banker said the easiest way was for me to just do a transfer in the app right on the spot, so I moved $25 over from checking, easy peasy.
He confirmed I would be eligible for the bonus so long as it’s one deposit of $10k/$20k, and by Dec 6th. Asked me to call him personally so he would make sure it’s all set once I made the deposit. I plan to link up to Fidelity CMA and push $20k over on 12/5.
Another heads up, this savings has a different routing # than my checking acct. I think due to the fact my checking was opened in another state 10 years ago.
Basically each state has their own group of routing numbers for banks to use.
So that’s normal if you open in a different state for the same bank.
Good job on opening your account With the greatest of ease.
Can this ($500 savings) be stacked with Checking-only ($400) promo here https://www.citizensbank.com/promo/checking/bau-2024-d2.aspx, for total of $900 bonus?
Hi, I tried to transfer after opening the account and it blocked my transfer : Unfortunately, we were unable to fund your new account(s) using your UMB, NA, Checking account. 🙁 ..Now calling the support to see what is wrong
Does anyone have any suggestions for what to do if someone is totally new to Citizens?
Should I do some kind of checking promotion before signing up for this? thakns
I just received a $500 “Balbldr Bonus” back on Oct 31st for having $10K in a Citizens savings account for a couple of months. Pretty much this same promotion. I also did receive an email from Citizens about this bonus too. Am I eligible for this one with the same savings account?
My understanding is that I need to fully remove whatever money I want to from the savings account from the old promo PRIOR to depositing money for this promo. I plan to do the full $20K. The terms say something about them using the balance of the savings account the day prior to making this fresh money deposit.
Also, the $20K (or $10K if you got for the $250 bonus) need to be made in 1 transaction.
Am I missing something? Sounds like I’ll get this bonus too. Also, do we need to make the deposit by Nov 27th or Dec 6th? Or it just needs to post by Dec 6th?
The account needs to be opened by 11/27. That’s not an issue for you as you are using an existing account. The $20K deposit needs to arrive by 12/6.
Correct
Meaning the 10k/20k on top of your balance that’s there before making the deposits
So yeah. If you drop it to zero first then it’s $0+10K/20K until March.
-M
I edited this comment because I accidentally replied to the wrong comment, yet again.
Can this savings account can be opened online or has to be opened at branch? What is promo code for online application?
It can be opened online and there is no promo code.
There is a promo code for new accounts: 24BFSAVOD
-M
The code must get automatically applied then as there is no promo code mentioned in the terms of the offer.
And thats the part I’m not sure of.
You can apply the code straight up not from the link.
But for current account holders I guess it’s implied somewhere jn the system.
If now the bank will be getting a lot of calls come May.
-M
Do you have current accounts like I do or are you opening new accounts for this promo?
I have current accounts.
Got through a $400 checking and the recent $500 five month hold savings deals.
So I will just move some money into it first week December
Then be prepared to harass citizens everyday in May next year if the bonus does not post. 😁
But I would feel saver personally opening up new accounts even if they have to be a higher tier.
Since on a new account application there is a code that can be referenced.
-M
So what’s stopping you from opening a new account then?
Just timing.
Has to be open by the 27th.
But were I’m pulling from has a nice APY I don’t want to loose out on before the month is out.
But we’ll see how it goes.
Are you and
Massy Mass the same person?
Yes
I see there are specific links for both existing and new customers…are you sure just adding 10 or 20k without going through those links will work?
I’m not sure of anything. I only did a cursory review of the terms the other day. I plan to read it more in depth at some point later this month. In the meantime, what’s your opinion?
Seems risky to just push funds in…
What do you suggest that we do instead?
I don’t really know…I just reread shawn’s comment and while I initially thought he was using the link for an existing account, maybe he meant opening a new account as an existing user. Maybe there really is no offer to attach to existing accounts and just getting the funds there is enough for the bonus.
Do you have a Citizens account open, are you looking to open a new account for this promo or are not planning on doing either offer? If I was a betting man, I would put my money on the 3rd option. 😉
I do have a checking and savings open and was about to request closure when this popped up (literally the same day)…but you’re bet would probably pay out, lol
Well, the one link for current customers just takes you to the normal login page.
So they trying to say log in and pull funds from somewhere?
No because its also says set up in branch.
Where folks can bring straight cash (homie)
The term ‘new money’ I translate as from anywhere not held in the person’s current accout. Meaning no sending 10K/20K from a Citizens checking to Citizens savings
(like the terms already state)
Is it just a normal login though? People reported that going through the proper channel forced a minimum 10k funding…
I only get that from the link and selecting open a new account.
Gotcha…thanks for clarifying shawn’s comment, lol
Thanks for the information.
I just got $500 savings bonus on 10/1/24 but my account was closed on 10/15/24. Can I open this savings account?
If you do online and you pass all the Chex police then yes you should be able to.
Just got checking 400 bonus this week. Does anyone know if any issues with signing up for this savings offer?
Do you have the link for 400 bonus post please?
https://www.doctorofcredit.com/ct-de-ma-mi-nh-nj-ny-oh-pa-ri-vt-citizens-bank-400-checking-bonus-2/
There are 2 offers for same bonus amount but 2 different requirement https://www.citizensbank.com/promo/checking/bau-2024-d2.aspx
thank you, these are not targeted, right? I can still do them?
Was not targeted when I did it. Just take screenshot of promo code page when you going through the application for your records just incase.
Thank you! So just to confirm, they gave you the bonus after completing the requirements and you didn’t have to contact them, etc, right?
Got the bonus and I didn’t contact them at all.
Got one of their bonuses a bit ago. Will look into doing this again. Not sure how often it can be done.
For the mailer bonus or the public one it’s generally 6 months after you closed the last account that you are then a “new customer.” It was reported that his bonus stacks with the mailer bonus (someone even asked a CSR and it was verified). I would open for the other bonus and stack this over the top if you don’t have a current open account. No guarantees but it sure seems like you can get both.
TJ