New Citi Ultimate Money Account Pays 5.00% APY

Citibank just launched a new product, Citi Ultimate Money Account, that pays 5.00% APY when you use their free online bill-pay service. However, monthly maintenance charge will apply if you don’t have an EZ Checking account. According to Citi website,

To apply for an Ultimate Money Account, you must have or open an EZ Checking account or another eligible checking account. To qualify for Free Citibank EZ Checking, you must apply online or by phone at 877-624-9600 for both a new regular checking and an Ultimate Money Account in the EZ Checking package by 12/31/07.

And in order to receive the 5.00% APY,

you must make at least two electronic bill payments through Citibank Online, Citi MobileSM or Citiphone Banking from your linked checking account in a qualifying relationship package during the calendar month preceding the statement cycle date. If the bill payment requirement is not met, a lower rate (currently 4.50% APY) will be applied for that statement cycle.

In addition, this product is eligible for ThankYou Points. Use this link to apply.

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