Citibank Checking Account Bonuses – $300, $700, or $1,500!
If you’re in the market for a new checking account and looking to cash in on some sign-up bonuses, you may want to check out Citibank’s current checking account promotions.
Citibank is blowing other new account offers out of the water with its extremely competitive bonuses, with new customers qualifying for either $300, $700, or $1,500 when signing up and meeting funding and balance requirements in the first three months.
Find out here how to qualify for a bonus offer of up to $1,500 as a new checking account customer at Citibank.
How to Get $300, $700, and $1,500
Right now through July 17th, 2022, new customers are eligible to receive $300, $700, or $1,500 when they open a qualifying checking account with Citibank and meet the deposit and balance requirements.
The cash bonus you qualify for is determined by how much you deposit into your account when signing up. Here are the details:
- If you make a deposit of at least $15,000 within 20 days of opening your account and maintain this balance for at least 60 days after that, you will be eligible for the $300 bonus.
- If you make a deposit of at least $50,000 within 20 days of opening your account and maintain this balance for at least 60 days after that, you will be eligible for the $700 bonus.
- If you make a deposit of at least $200,000 within 20 days of opening your account and maintain this balance for at least 60 days after that, you will be eligible for the $1,500 bonus.
There are no additional requirements. You cannot increase your bonus by adding more money to your account after the 20 days are up. Your balance on the 20th day is used to lock in your offer. Your bonus will be deposited into your account automatically within 90 calendar days of meeting the requirements.
To qualify, make sure you use this link to sign up for a new account if doing so online or register for the offer and bring your coupon with you when applying in person. As long as you open your new account by July 17th, 2022, you can be eligible for a bonus.
The money you use to fund your account cannot come from another Citi checking or savings account if you want a bonus–it needs to be new to Citi. You can not qualify for an account bonus if you are already a Citibank checking account customer, if you have owned a Citi account in the last 180 days (including closed accounts), or if you are under 18 years old.
There are four different checking accounts that you can open that qualify for a bonus:
- Citibank Account
- Citi Priority Account
- Basic Banking Account
- Citigold Account
These accounts range from very basic checking accounts to relationship checking account packages that include customer service upgrades, enhanced banking features, and a variety of financial and travel perks.
The terms for qualifying for the account bonus are the same for all of the above account types, but each account has its own deposit requirements and maintenance fees to consider. Find out here which one is right for you.
This account has a $25 monthly maintenance fee that is waived when you maintain an average monthly balance of at least $10,000 across your deposit and investment accounts. There is no minimum opening deposit required to open an account.
To qualify for the bonus, you need to deposit anywhere from $15,000 to $200,000 into this account within the first 20 days of opening it. If you do not deposit anything within 90 days of opening, your account may be closed at Citi’s discretion (this is true of every account).
This is technically an interest-bearing checking account, but it currently earns an APY of just 0.01%. If you want to earn more, the Citibank savings account earns 0.60% right now. Note that this is the current interest rate for all banking packages.
It’s optional, but if you link your savings account with this account, you will not pay a monthly maintenance fee for it. If you don’t link the two, the maintenance fee for the savings account is $25. This is also waived if you maintain an average collective balance of at least $10,000 each month. There is no minimum opening deposit requirement for any Citibank savings account.
There are no fees when you use your debit card at one of more than 65,000 transaction-free ATMs in the Citi network. If you use an out-of-network ATM, you will pay a $2.50 transaction fee each time or you can waive this fee by maintaining a balance of at least $10,000. Basically, if your balance is over $10,000 you’ll avoid the fee on your checking and savings account, if you have one, and won’t have to pay to use out-of-network ATMs. Also, if you incur third-party fees when using non-Citi ATMs, you qualify for unlimited reimbursements with this account.
This account comes with paperless statements, check writing capabilities with the first checkbook order free, and bill pay features. With this account, you can also enroll in ThankYou Rewards. Select checking accounts are eligible to enroll in this program, which allows you to earn points for credit card use and checking account activities.
For example, when you receive a qualifying direct deposit into your checking account, save with a linked savings account, or pay a bill out of this account, you will earn reward points at whatever rate is currently available. If you also have a Citi credit card that qualifies, you can earn points for both.
Rewards points can be redeemed for travel such as airfare and hotel stays, gift cards, or even cashed out in the form of a statement credit.
Citi Priority Account
This account has a $30 monthly maintenance fee that is waived when you maintain an average monthly balance of at least $50,000 across all of your linked deposit and investment accounts. There is no minimum deposit required when opening an account.
This checking account comes with many additional perks. These include but are not limited to rate discounts on loan products, no foreign exchange fees when making transactions abroad, and travel and global benefits such as waived international ATM fees.
There is also no fee for using out-of-network ATMs regardless of your balance and you can order standard checks free of charge.
Citi Priority checking customers are also eligible for Citi Wealth Management perks such as a waiver for the annual fee for Citi Personal Wealth Management Investment accounts and no advisory fee for your first Citi Wealth Builder account (other fees still apply) To qualify to have these fees waived, you must link your wealth management accounts with this checking account.
The Citi Priority checking account earns an interest rate of 0.01% on all balances. Note that the Citi Priority savings account can only be opened when you have a Citi Priority checking account. There is no maintenance fee for this when the two accounts are linked.
This account is also eligible for the ThankYou Rewards program.
Basic Banking Account
The monthly maintenance fee for this account is $12, but there are three different ways to waive it. You can:
- Make one qualifying direct deposit plus one qualifying bill payment (both one-time and recurring payments can qualify as long as they are not made via check or internal transfer) per month
- Maintain an average monthly balance of at least $1,500 between this account, linked savings accounts, and linked money market accounts (other accounts do not count)
- Be over 62 years old and the first account owner listed for this account
This is a really basic product that doesn’t have a lot of benefits or features. It does not pay interest, is not eligible for the ThankYou Rewards program, and does not offer a fee waiver for out-of-network ATM transactions (unless the first listed account owner is over the age of 62). There are also no travel benefits or financial guidance perks/discounts.
Overall, this account would probably be best for younger individuals or those planning to keep a lower balance, because it’s not particularly rewarding beyond just giving you a safe place to store your money.
The Citigold account is a premium checking account offered only to those who are already Citigold members.
Essentially, Citigold is a form of priority membership with Citibank. As a Citigold member, you will get access to dedicated support and wealth management services exclusively for Citigold clients. It’s an elevated customer service and banking experience for higher net-worth individuals who do a large majority of their banking with Citibank.
As you might expect, it is much harder to qualify for Citigold than it is to just open a checking account. To be eligible for Citigold membership, you need to have a combined balance across your deposit and investment accounts of at least $200,000.
This account does not have a minimum opening deposit requirement and does not charge a monthly maintenance fee.
However, you do need to meet eligibility requirements each month in order to remain a Citigold client and keep your account. There is no charge for Citigold membership. If you are found to be ineligible, this checking account will be closed.
There are no fees for using out-of-network ATMs, no fees for standard checkbook orders or for non-standard checkbook orders (when you maintain a balance of at least $500,000 across your accounts), and unlimited reimbursement of third-party fees you may incur using non-Citi ATMs. The foreign transaction fee is waived when you use this debit card internationally and you will get preferred rates on loans and mortgages.
Benefits of Citigold membership include complimentary wealth management services such as financial planning and a complimentary Citi Wealth Builder account (after your first, you will pay a fee for each). Citigold members also enjoy customer service privileges such as access to a dedicated Citigold Concierge who can assist with travel bookings and help you make reservations and a team of representatives who can answer questions about your accounts and help you understand the benefits of Citigold membership.
Plus, Citigold members are eligible for product and service rebates valued at around $200 per year. This includes memberships and subscriptions, such as streaming services, purchased online using your invitation from Citi.
The Citigold package can include a variety of account types including checking, savings, investment, retirement, and wealth management accounts. But to open any of these, you need to have the Citigold checking account first. The Citigold savings account pays an interest rate of 0.60%. In addition, this checking account earns an interest rate of 0.01% on your entire balance.
This checking account is also eligible for the ThankYou Rewards program.
With such great account bonuses, opening a new Citi checking account could be a smart move for you if you can afford it. There are a lot of perks to many of Citibank’s eligible banking “packages” that can help you save money and make your life easier. In particular, we recommend the Citibank and Citi Priority checking accounts.
That said, $15,000 is a significant amount of money and these bonuses are harder to qualify for than most. If you can’t make this deposit minimum work, you may be eligible for a bonus with another bank by meeting direct deposit or transaction requirements after opening.