[Expired] [CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, D.C., MD, FL] Citizens Bank $500 Business Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 3/19/23: Deal now looks to be publicly available. Hat tip to reader Peek.

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. Mentions retaining the flyer so most likely targeted
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems:Mixed data points
  • Credit card funding: None
  • Monthly fees: $0 – $25
  • Early account termination fee: None
  • Household limit: Unknown
  • Expiration date: 5/15/23

The Offer

Direct link to offer

  • Citizens Bank is offering a bonus of up to $500 when you open a new business checking account. Bonuses are as follows:
    • $200 when you open a new Clearly Better Business Checking with a minimum opening deposit of $2,000 and make five qualifying transactions in the two months stated in the table below
    • $500 when you open a new Business Advisor Checking account with a $5,000 opening deposit and make five qualifying transactions in the two months stated in the table below

The Fine Print

  • *To Earn Bonus: To earn a $200 bonus, open your first new Clearly Better Business Checking account between 1/1/23 and 5/15/23 and have a minimum opening deposit of $2000 post to the account by the date stated in the table below then remains on deposit until the date stated in the table below and make five qualifying transactions in the two months stated in the table below OR to earn a $500 bonus, open your first new Business Advisor Checking account between 1/1/23 and 5/15/23 and have a minimum opening deposit of $5000 post to the account by the date stated in the table below then remains on deposit until the date stated in the table below and make five qualifying transactions in the two months stated in the table below.
  • Qualifying transactions include deposits made at a Citizens branch, ATM, or through the mobile app; payments made by check or Online Bill Pay; debit card transactions include signature and PIN-based debit transactions in person directly at a merchant location or in app or online merchant sites. Transfers between other Citizens accounts do not qualify. Qualifications: Primary signer on the new business checking account may not be or have been a signer on any Citizens business checking account within the previous six months. Your new 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: Retain this flyer for your 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 business checking offer. Offer eligibility is determined at Citizens’ sole discretion. Payout: Bonus will be deposited to the new business 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

Monthly Fees

  • Clearly Better Business Checking has no monthly fees to worry about.
  • Business Advisor Checking has a $25 monthly fee. This is waived with either of the following:
    • $10,000 average daily balance -OR-
    • $35,000 monthly combined balance.

Early Account Termination Fee

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

Our Verdict

Difficult to keep the account for the $500 bonus for fee free, but the $200 bonus is relatively easy to meet the requirements for and might be worth doing if you are targeted.

Hat tip to reader Sam S

Useful posts regarding bank bonuses:
    William Charles
  • On March 19, 2023, 12:00
Tags: ct bank bonusesdc bank bonusesde bank bonusesdirect deposit not requiredfl bank bonusesma bank bonusesmd bank bonusesmi bank bonusesnh bank bonusesnj bank bonusesno credit card fundingny bank bonusesoh bank bonusespa bank bonusesri bank bonusessoft pullva bank bonusesvt bank bonuses

View Comments (89)

    • How long after you filed the compliant did it take to get your bonus? I tried working with my banker as well as the business phone line ever since the bonus payout deadline of August 31.

      I finally submitted a case to the CFPB today, September 13.

      • After submitting my case to the CFPB 9/13, the bonus was deposited September 28. I was contacted by the office of the Chairman on September 19, who said that they were looking into the request.

        On September 26, the representative reached out and notified me that I did fulfill all the requirements, and for some reason the promotion was never added to my account. On 9/28 the bonus appeared in my account, as of 9/26.

        Lots of work with this bank. I recommend to keep all records and account promo codes, and submit to the CFPB the day your bonus deposit window expires without a bonus being posted.

        • Hi,

          I guess I am now in the same boat. They are asking for promo code. I gave them a copy of the language and wording of the offer. Not sure if I have to go directly to CFPB. Any ideas?. Thanks community!!!

          • I recommend you submit your case on the last day of the period for when your bonus was supposed to have been paid. It sounds like no one is having any luck with the bankers. I was given the run around for weeks - senior manager out of office, no return calls, etc... But after submitting my claim, which is really easy, I got results in two weeks.

  • I opened my Citizens business Adviser account in April, and met all the requirements for the $500 bonus, but my bonus never posted; it is supposed to post by today - August 31st. When I contacted Citizens by phone, they acted unaware of the bonus, but I left my information and they said they would reach out to the team and someone would call me back by today, but they never did.

    So I contacted the branch today where I opened the account, emailed him the requirements for the bonus (which I also noted when signing up for the account!) , and the person I spoke with said he will escalate the issue tomorrow if the bonus doesn’t post. He is not allowed to escalate it until after August 31st. Fingers crossed. If the bonus doesn’t post, I will be filing a CPFB complaint.

    • No bonus, $25 fee. Surprised, right? So the banker will need to wait up to 5 business days to hear back from the department about the bonus. This should be a simple, clear cut process!

  • Similar to many others, they are denying my bonus. I called the banker who opened my account in March, she then contacted the back office and came back saying the back office told her there was never a $500 offer and the best they ever offered is $250!!! this bank is unbelievable. Every one affected should definitely CFPB.

  • The denial of bonus warrants CPFB complaints if not granted. Working with my banker now, let's see how it goes.

  • I opened the account in Branch in March with 10k and fulfilled all conditions but now they are denying any such offer. While opening the account the banker confirmed the offer and she even printed the offer for me in the branch. I visited the branch couple of days back and they confirmed I have completed the requirements but their internal/ marketing department is denying the offer. 10k blocked for 6 months with no output :( !!

    • Same here. Called and gave them the copy of offer and they are investigating with Marketing. Folks who got bonus were the ones who must have signed up with the first offer for NY/NJ which expired late march. The public offer which expired in May is the one that is in limbo. I might be wrong though. I have time till end of month to cancel.

  • 3/22/2023 Applied & Opened in Branch (NYC) - Initial deposit of $3 lol
    4/24: $5000 ACH Deposit
    4/28: $25 Service Charge (This actually put my account to $4978)
    5/17: Got a service charge rebate (Account now back to $5003)
    Month of May: 3 ATM Deposits
    Month of June: 7 Transactions (Mix of $1 cash app reloads, atm deposits and a chase RTP Transfer)
    7/28: $500 Balbldr Bonus

    Takeaways: Surprisingly bonus posted even after my account dipped below the $5000 threshold and I was able to spread the 10 required transactions between both months. 5 transactions per month not needed (maybe just 5 total transactions?). Each transaction was at least $1 or more

    Hope this helps!

    • Thanks for the DP. This gives hope for me since i had the initial dep of $100 at opening in Branch. I opened mine on 3/30. Still no bonus yet. Hoping it comes thru soon.

  • Does anyone have a screenshot of the offer? Bonus did not post to my account and they're saying now there was no such promo

  • @will

    Just FYI, deal is marked as expired but still appearing on best bank bonuses list.

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