Citi Checking $400 Bonus

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My wife and I have banked with Citi for 20 years. While recently there has been a big push to online banks, we’ve been very happy with Citi. (One new cool feature is that you can have an ATM receipt emailed to you rather than printed.) Now Citi has just added another reason to consider its checking account–40,000 Thank You points redeemable for up to $400 in gift cards.

Citibank is offering a $400 bonus if you sign up for a Citigold® Checking Account, a $200 bonus when you open a standard Citibank account, or a $100 bonus if you open what Citi calls a Basic Banking Package.

How To Obtain the Bonus

Applying for a Citigold® Checking Account is simple and only takes a few minutes.  But in order to acquire the cash bonus, you must make sure to do the following:

  • Open a new Citibank checking account in The Citigold®, Citibank® or Basic Banking® Account Package by 4/31/13.
  • Within 45 days after account opening, enroll the new checking account in Citi ThankYou® Rewards AND
  • Complete one direct deposit AND complete one qualifying bill payment for two consecutive months.*

Citigold® Checking Accounts do offer some perks, including free non-Citi ATM withdrawals, free overdraft protection and free check orders. There is, however, one big caveat to owning this account.  Citi will charge a $30 monthly fee if one of the following conditions are not met:

  • $50,000 for all linked deposit or retirement accounts
  • $100,000 in all linked deposit, retirement, credit, or investment accounts, excluding a first mortgage with Citibank
  • $250,000, including linked Citibank mortgage

My Thoughts on Big Banks

Recently I mentioned this Citibank bonus offer in the Dough Roller newsletter. (If you don’t get the newsletter, you can signup at the top of the sidebar to the right.) In response, a reader emailed me to basically say that he hates all big banks, and he demanded to know why I could possibly recommend Citibank.

My wife and I have banked with Citi since 1992. I opened an account with Citi for one reason–they had a branch next to my office building. Like just about any business relationship, there were times I almost left for another bank. But two things keep me at Citi. First, I have a no fee checking account. My account doesn’t come with the bonus offers listed in this article, but I also don’t have a minimum balance requirement. And second, they have free ATMs in every 7-Eleven. Add to that thousands of Citi branches and ATMs, and I never pay to withdrawal money from an ATM.

There are of course many other banking options. For example, you can check out our list of free checking accounts. But Citi’s bonus offer is the richest checking account perks I’ve seen in a long time.

For more details or to open an account, visit Citi’s $400 Bonus website.

Published or Updated: April 7, 2013
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Comments

  1. Jonathan says:

    Most folks likely are already paying their banks to hold their money for them. There is no doubt that interest earnings on deposits are far outstripped by various banking fees, ATM fees, external software connection fees, etc.

  2. Glenn Mako says:

    The Citibank behaved in a very disrespectul way with me and does not deserve my business anymore. They sent me a letter a couple of years ago stating that I’m a valuable customer and thanking me for my business. Then they proceeded in telling me that from now on they’ll charge me for my account and even a direct deposit (which I made monthly, but was below $10) was not enough to keep it free. They said that I should either bump up my balance to a couple of thousands or establish a direct deposit of my paycheck. There were no alternative “free with a condition” products at that time offered by Citibank. So, I closed my account and told them to basically go to hell. Now my only bank is Bank of America and I love it in every way. It offers many valuable services free of charge and gave me a generous $XX, 000 credit line, unlike the above mentioned Citibank with a credit line of a mere $X,000.
    If I would be you I WOULD STEER CLEAR OF C.I.T.I B.A.N.K.

    • DR says:

      Glenn, thanks for sharing your experience with Citibank. What type of account do you have with B of A?

    • jim says:

      Maybe things have changed since 2011 but B. of A. right now requires minimum balance of $1500 or a direct deposit for checking as far as I see. Thats the same requirement as the Citibank basic checking. So I see no difference there…

  3. Evette says:

    I enjoy reading your website. Personally, I’ve been very happy with my credit union.
    I have been with them since I was able to write a check. Advantages: No monthly fees, and atm reimbursement if i dont use their atms. Requirements: direct deposit, online access twice a month and 2 debit transaction a month.
    Thanks for all your insight

  4. Carol says:

    I have been thinking about creating an account on a large bank. I am glad you shared this. Learning about the absence of fees in many of their services may it very attractive. I am hoping to learn more.

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