Citi Checking Bonus up to $600
Citi is offering three new bonuses for checking accounts that are available nationwide. You can earn either $200, $400, $500 or $600 with these new offers. Let’s take a look.
The Offers
$200 Offer
- Open a new checking account in the Basic Banking Package between 07/01/2019 to 09/30/2019
- Within 30 days of opening your account deposit $5,000 New-to-Citibank funds into the new checking account.
- Maintain a minimum balance of $5,000 for 60 days.
- Get $200 deposited to your account!
$400/$500 Offer
- Open a new checking and savings account in the Citibank Account Package between 07/01/2019 to 09/30/2019
- Within 30 days of opening your account deposit $15,000 new-to-Citibank funds into the checking or savings account. A minimum of $1,500 must be in the checking account and a minimum of $100 must be in the savings account.
- Maintain a minimum balance of $15,000 in your eligible linked checking and savings account for 60 days.
- Earn an Extra $100 – a total cash bonus of $500 when you complete one qualifying direct deposit each month for two consecutive months within 60 days of account opening.
$600 Offer
- Open a new checking and savings account in the Citi Priority Account Package between 07/01/2019 to 09/30/2019
- Within 30 days of opening your account deposit $50,000 new-to-Citibank funds into the checking or savings account. A minimum of $5,000 must be in the checking account and a minimum of $100 must be in the savings account.
- Maintain a minimum balance of $50,000 in your eligible linked checking and savings account for 60 days.
- Get $600 deposited to your account!
Promotion Pages: $200 Bonus | $400/$500 Bonus | $600 Bonus
Offer Terms
- Must have not been an owner of a Citibank checking or savings account within the last 180 calendar days
- Open account before 09/30/2019
Fees
All three accounts come with monthly fees and all can be waived:
- The Citi Basic Account Package – $12 monthly service fee waived when you maintain a balance of $1,500 or more in your eligible deposits, retirement accounts, and investments.
- The Citi Priority Account Package – $25 monthly service fee waived when you maintain a balance of $10,000 or more in your eligible deposits, retirement accounts, and investments.
- The Citi Priority Account Package – $30 monthly service fee waived when you maintain a balance of $50,000 or more in your eligible deposits, retirement accounts, and investments.
Analysis
All offers are similar, expect for the deposit requirement. The first offer gives you $200 and requires a $5,000 deposit within the first 30 days. You need to keep that balance for 60 days. You need to keep $1,500 in the account to avoid a $12 monthly fee.
The second offer gives you $400 and requires a deposit of $15,000 within the first 30 days. You need to keep the money in the account for at least 60 days. You then need to keep $10,000 in your account to waive a $25 monthly fee.
The third offer gives you more, a $600 bonus, but requires a larger deposit of $50,000 within the first 30 days. Again you need to keep the money in the account for at least 60 days. You then need to have that same balance of $50,000 in your account to waive a $30 monthly fee.
I think the first offer of $400 would be the best choice. You need a deposit of $15K instead of $50K to get the bonus and also $10K instead of $50K to waive the annual fee. Plus you can get another $100 with two direct deposits. If you don’t have $15K, then the $200 would be your most feasible option.
Citi is often difficult with giving out bonuses, so you might have your money tied up longer than expected. You might need to keep the account open for 3-4 months so you would be losing out on interest elsewhere on that $50K balance, if you were eyeing that $600 bonus.
Conclusion
If you have the money for the deposits, this is a great bonus. It’s better than the previous $300/$500 bonus and it doesn’t require a direct deposit. It’s also available online and nationwide. The $500 bonus is probably the best choice.
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