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Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Citibank, the , frequently offers bonuses to attract new customers. Taking advantage of a new account bonus can net some attractive rewards if you have enough money to meet the bank’s promotional requirements. With Citibank’s , customers earn a bonus from Citibank when opening a checking account in an eligible account package, funding the account with new funds within 20 days and maintaining a specified balance for another 60 days. Depending on account balance, customers can receive a Citibank bonus of $300, $700 or $1,500. With another current Citibank promotion called the , customers earn a $20 to $2,000 bonus when opening a Citi Savings Account and keeping the required minimum balance for 60 days. Details of the Welcome Checking Cash Bonus Offer
Citibank is currently offering a cash bonus for customers who open a checking account in one of four eligible packages and meet additional deposit and balance requirements. The promotions are available for all customers who open accounts with money from outside Citibank from Jan. 5 to July 17, 2022. Customers can enroll in the promotion online or at a branch. The minimum deposit and balance requirements and corresponding cash bonuses are: $15,000-$49,000 minimum deposit and balance: $300 cash bonus $50,000-$199,999 minimum deposit and balance: $700 cash bonus $200,000 or more minimum deposit and balance: $1,500 cash bonus This promotion is associated with four account packages: Basic Banking Account Package Citibank Account Package Citi Priority Account Package Citigold Account Package The amount of your cash bonus will be determined based on the amount of money in the account on the 20th day after the account is opened. After the 21st day, the required minimum balance must be maintained for 60 more days, after which the bonus will be deposited into the account within 90 days. If you also open and deposit money into a Citi Savings Account that’s in the same package as your checking account, the savings account balance will count toward the minimum requirements to earn a bonus. Details of Get Rewarded for Saving More Offer
A separate Citibank promotion, called Get Rewarded for Saving More Offer, offers a cash bonus to those who open a Citi Savings Account, and meet deposit and balance requirements. The offers are subject to change, but Citibank advertises the promotion will be available to those who open accounts with funds that are new to Citibank from Jan. 5 to March 31, 2022. The offer is available online and at a Citibank branch. The minimum deposit and balance ranges and corresponding cash bonuses, are: $10,000-$29,999: $20 cash bonus $30,000-$49,999: $60 cash bonus $50,000-$99,999: $100 cash bonus $100,000-$249,999: $200 cash bonus $250,000-$499,999: $500 cash bonus $500,000-$999,999: $1,000 cash bonus $1 million or more: $2,000 cash bonus To earn the bonus on a new Citi Savings Account, fund the account within 20 days of opening. The required minimum balance must be maintained for 60 consecutive days after the 20th day. Once these requirements are met, your bonus will be deposited into the account within 90 days. What s the catch
Free cash may seem like a great deal, but Citibank does put some specific limitations on the promotions that can easily disqualify consumers who live in certain areas, or who don’t follow the terms and conditions. The Welcome Checking Cash Bonus Offer is open to those who haven’t owned a Citi checking account in the last 180 days and are at least 18 years old, and is only available to customers who have residential addresses or open an account in a branch in these states: Connecticut California District of Columbia Florida (part) Illinois (part) Maryland Nevada New Jersey New York Virginia Accounts that qualify for the Welcome Checking Cash Bonus Offer include Interest Checking or Regular Checking accounts in the Citigold Account Package, Citi Priority Package or Citibank Account Package. Regular Interest accounts in the Basic Banking Package also qualify. Regardless of account package, a minimum deposit and balance of at least $15,000 is required to receive a checking bonus. Any Citi Savings Account — except the Citi Accelerate Savings Account — opened in the Citibank Account Package, Citi Priority Account Package or Citigold Account Package during the offer period can qualify for the Get Rewarded for Saving More Offer. Additionally, a deposit and minimum balance of at least $10,000 must be maintained to be eligible for a savings bonus. Fiduciary, estate, business, retirement and other trust accounts do not qualify for either the Welcome Checking Cash Bonus Offer or the Get Rewarded for Saving More Offer — though living trust and custodial accounts are eligible. Neither offer is open to international personal bank customers. Is this a good deal for you
Citibank’s savings bonus reward might be a good fit if you have the extra cash to meet the deposit requirements. Many other banks offer for opening accounts, and the deposit minimums are lower and the rewards are smaller. Citibank accounts offer several helpful features, including free financial advising services for Priority and Citigold account holders, options for earning interest on checking account balances and eligibility for the Citi ThankYou Rewards program. Before opening an account, familiarize yourself with Citibank’s fee structure to avoid needless costs. Citibank does charge monthly maintenance fees on some accounts, though service fees can be waived when a minimum balance is maintained. Citigold account holders do not incur monthly service fees, but they are required to maintain a combined average monthly account balance of $200,000 among all accounts (including investment accounts) or the accounts will be downgraded to a lower status. If you don’t have the financial bandwidth to meet Citibank’s minimum balance requirements long term, you may need to consider other account alternatives. Learn more
SHARE: Karen Bennett is a consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters. David Schepp is a wealth editor for Bankrate, focusing on deposits and consumer banking content. Related Articles