Citibank Checking Account $100 Bonus Promotion
- Checking Account:
Receive up to $100 bonus when opening a Citibank checking account before 02/28/2013 and meeting the direct deposit and bill payment requirements. No minimum to open the account, but monthly minimum account balance has to be maintained to avoid service fee. Enjoy free mobile banking, free mobile check deposit, and free online bill payment. Fee-free withdrawals at Citibank ATMs worldwide.
In case you are shopping for a checking account, Citibank is currently running a promotion for Citibank Checking Account that comes with a promotional bonus up to $100. The promotion runs for a full year, from now to February 28, 2013. During the promotion period, if you open a Citibank checking account, you could receive up to $100 cash bonus. To qualify for the bonus, you will need to meet these conditions:
- Open a new Citibank Regular Checking account in The Citigold or Citibank Account Package by 02/28/2013;
- Within 45 days after account opening fund the account with $1,000;
- Also within 45 days of account opening, complete one direct deposit AND make one qualifying bill payment for two consecutive months.
Qualifying bill payments are those using Citibank Online, Citi Mobile or CitiPhone Banking to pay a bill. Since two different Citibank checking account products are being offered for this promotion, you could receive different promotion bonuses, depending on which account you choose to open. If you select the new Regular Citibank Checking account in the Citigold Account Package, you will get the $100 cash bonus. If instead you choose the Regular Citibank Checking account in the Citibank Account Package, then you will be eligible for $50 cash bonus.
As I mentioned early in the post about free checking, big banks are increasingly shifting from free checking accounts to fee based checking accounts these days after regulatory changes in the last couple of years. For those fee based checking accounts, in order to get a waiver of the monthly account fee, account holders are required to maintain a certainly level of deposit in the account and, at the same time, establish direct deposit and/or make online bill payments. And Citibank is no exception in this regard, even more so after Citibank has increased the required minimum account balance for Citibank Checking Account to avoid monthly fee in December 2011. For this particular promotion, even though there’s no minimum balance requirement to get the promotional bonus, you do have to maintain a certain level of balance in the checking accounts in order to avoid monthly service fee. For the Citigold Account Package, monthly fee ($30) is waived if a combined average monthly balance of $50,000 in deposits and retirement accounts is maintained. The minimum account balance requirement for the Citibank Account Package to avoid monthly fee of $20 is $15,000 in linked accounts.
As you can see from above, the biggest issue here is maintaining the required balance for the account to avoid monthly fee, and the balance requirements are rather high. If you can come up with the fund ($15,000 for Citibank Account Package and $50,000 for Citigold Package), then the free money is available. The cash reward will be directly deposited into your checking account within 90 days from the end of the month in which you satisfy all requirements. If you are interested, you have plenty of time to open a Citibank checking account and get the bonus.
BTW, there’s another promotion from Citi that lets you earn nice ThankYou Points. The Citi ThankYou Preferred Card will give new cardholders 15,000 ThankYou Points as bonus after spending $1,000 in purchases within 3 months of account opening.
I have a more detailed discussion about the Citi ThankYou Preferred Card early. Basically, you get 1 ThankYou Point for every dollar spent on purchases, plus anniversary bonus every year, and the card has no annual fee. Check out the post for more info.
- $100 bonus
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