Contents
The Offer
- Citi is offering existing checking customers a bonus of up to $200 when you keep your checking account open.
Our Verdict
Deal says it ends April 19, 2022, but it’s being actively open when you try to close the account. You do need to be invited to this offer to be eligible, but you should be able to trigger that by trying to close the account.
Hat tip to reader Jim S
Successful final DP:
04/26/2023 offer enroll
05/22/2023 $20 debit purchase irl
05/25/2023 $70 debit purchase irl
05/25/2023 $200 debit purchase irl
05/26/2023 $200 debit purchase irl
06/07/2023 Promotional Rewards Credit $200 (ignore below DP)
Super quick and easy, really surprising from Citi. Note there’s another DP down there that says they closed the account out immediately, ignoring the retention?…
Mine posted about 5 weeks after the last debit transaction. Good to see some people are getting paid sooner. A good offer from Citi!
2 weeks and still have not received bonus.
I enrolled in the offer and made $400 in debit card purchases. After 120 days I called about getting the $200 credit to my account. The $200 was credited but the next day Citi debited the $200 from my checking account (Access account). I called again and asked what was going on. The Citi rep said that I did not have a W-9 on file and that I needed to send it in the mail. I went to the IRS website to see what a W-9 is and I’m confused. It’s a request for a TIN (Taxpayer Identification Number). I’m a born in the USA citizen and I have a social security number, etc. So I already have a TIN right? As in my Social Security Number is my TIN. Right? I also have a EIN for my business, but my Citi account is a personal account and this has nothing to do with my business. Do I just fill out the W-9 and send it to Citi? Anyone have any ideas about this? Thanks.
This is a relatively common problem with Citi. Typically, you certify to this during an online application (it won’t say “W-9,” it will just ask you to certify you are not subject to backup withholding), but Citi either fails to ask or fails to record it.
I opened a Citi savings account over the phone earlier this year, and they sent me the forms electronically but never collected the certification. I realized it early on because they withheld part of my interest. When I called in I was given a specific address for mailing and it was recommended that I purchase tracking and provide that tracking info to Citi so they could ensure my profile was updated.
Thank You very much for the info!
How long does it take for the bonus to post after your 3rd qualifying transaction?
You have the chance to earn a $50, $100, or a $200 statement credit simply by keeping your account open for 120 days and making 3 or more qualifying purchases totaling at least $100 and up to $400 for the highest statement credit of $200 on your Citibank Debit Card within the 1st 30 days after you enroll in this offer. After you complete your qualifying purchases, you’ll receive a statement credit within 90 days.
No Retention Offer for me. I just closed my checking account using the CHAT feature. The account was successfully closed, confirmed 24 hours later – it disapeared from my dashboard. Maybe if you call you still get the offer, chat didn’t work.
I have an account that’s been closed for 2 months and it hasn’t disappeared from my dashboard. Most annoying thing ever.
Got $200 bonus in 2 months from the Enrollment. Turned out to be a good offer.
Can you give the dates of your offer enrollment, offer deadline, 3rd transaction, and bonus posting?
I’ve been cleaning up some banking/financial accounts, was going to close Citi basic checking when this offer came to mind. You have to call 1-888-248-4226 and Citi rep tells you what offer you get. Be sure to tell them you are thinking about closing your account and if there are any retention offers. Here is what I got:
Keep account open for 120 days from offer enrollment. Within 30 days of offer enrollment, make 3 or more qualifying purchases using Citi debit card that is linked to checking account. This “tiered purchase rebate offer” depends on your amount of total spend:
$100-$199, get $50 rebate
$200-$399, get $100 rebate
$400+, get $200 rebate
The offer states qualifying purchases are “signature or PIN based debit card transactions” so not sure about online purchases (the rep didn’t seem that sure either) so I’ll probably get some gift cards in store. Essentially it is about 50% rebate on each of the tiers, so a decent offer. The rebate is paid in 90 days of completing the spend.
EVERYONE FOLLOW THIS POST! PERFECT INFORMATION!!
Call the number then ask to close the account. You will get connected to live rep and the process is seamless.
The info in the post is outdated! The rebate structure is different and not package dependent.
Promotion code: 4MXY482MWW
Has the rebate posted for you?
Yes, I received the $200 bonus in early May after completing the spend in late March.
Asking for dp: what happens if my account package is downgraded before I finish the purchase or receive the bonus? Will I earn a higher or lower bonus or even nothing?
Had a bonus from Citibank due last month, despite a couple of calls to customer (no)service, and a visit to a branch, still no resolution…. Have another due in the coming month, wish I would have sent these two sums in a different direction. I guess there’s a reason these folks have been in business for 211 years and are not BBB accredited. If peace of mind (and time) is a priority, AVOID!