[Targeted] Citibank Up To $800 Checking Bonus

Offer at a glance

• Maximum bonus amount: Up to $800
• Availability: Nationwide (has to be done in branch and I think you need to have received the mailer)
• Direct deposit required: Not required
• Additional requirements: See below
• Hard/soft pull: Soft pull
• Credit card funding: None
• Monthly fees: Up to $30, avoidable
• Early account termination fee: None
• Expiration date: Unknown

The Offer

• Citibank are offering a bonus of up to $800 when you open a checking account in an eligible account package. You must do the following:
  • Open a new consumer checking account in an eligible account package
  • Within 30 calendar days after account is opened, deposit the required minimum in New-to-Citibank funds.
  • Maintain the required minimum deposit for 30 consecutive days
• Bonus you will receive is as follows
  • $800 bonus with $1,000,000 deposit in Citigold Account Package
  • $500 bonus with $200,000 deposit in Citigold Account Package
  • $300 bonus with $50,000 deposit in Citi Priority Account Package
  • $100 bonus with $10,000 deposit in Citibank Account Package
  • $50 bonus with $2,500 deposit in Basic Banking Package

The Fine Print

• Bonus will post to account within 90 days from when all of the requirements are met.
• Valid for new checking customers only
• You’re required to pay taxes on all bank account bonuses

Avoiding Fees

Monthly Fee

Fees vary based on the account you open:

• The Citibank Account Package needs $10,000 in combined average monthly balances to remain fee free. Otherwise, there is a $25 monthly fee.
• The Citibank Priority Account Package needs $50,000 in combined average monthly balances to remain fee free, otherwise there is a $30 fee.
• The Citibank Gold Account Package needs $200,000 in combined average monthly balances otherwise you will be downgraded to the Citibank Priority Account

Early Termination Fee

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

Our Verdict

It’s good to see Citibank back to their old tricks with this terrible offer. They currently have a better offer for $300 that requires only a $15,000 deposit so let’s only focus on the accounts that earn $500 or $800.

Citibank offers a truly poor interest rate on these accounts (highest is around 0.10% APY). You could instead get an account that offers 1%+ APY. Let’s say you put $1,000,000 into the Citi account, you’re basically losing ~$25 in interest per day. You need to maintain that balance for 30 days, you just lost $750 – basically the entire bonus.

This offer is truly awful, stay away from it. You can view much better checking & saving bonuses here instead.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
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• 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
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