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Earn $500 when opened new Checking + Saving account with Citi Bank

+14 Deal Score
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Earn a $400 Bonus

Open a new eligible checking and savings account in the Citibank Account Package.
Deposit a minimum of $15,000 New-to-Citibank funds between the new checking and savings accounts.
Maintain a minimum of $15,000 between the checking and savings accounts for 60 consecutive calendar days.

+
Earn $100 More

Complete one qualifying direct deposit each month for two consecutive months within 60 days of account opening – a total cash bonus of $500!

Monthly Service Fee

Way to Avoid $25 Monthly Service Fee

Maintain a combined average monthly balance of $10,000+ in eligible linked deposit, retirement and investment accounts.

WHO IS ELIGIBLE FOR THIS OFFER?
"Eligible Customers" are New-to-Citibank Customers who (1) enroll in Citibank's "$400/$500 Checking and Savings Offer", (2) open a new Eligible Checking Account, (3) open a new Eligible Savings Account, (4) are at least eighteen (18) years of age, and (5) have a valid W-9 or W-8 BEN on file with Citibank and are not subject to back-up withholding.

"New-to-Citibank" Customers are customers who have not been an owner of a Citibank checking account within the last 180 calendar days. Fiduciary, estate, business and or trust accounts are not eligible for the $400/$500 Checking and Savings Offer even if they otherwise meet the definition of Eligible Checking Account. However, trust accounts that are a living trust and custodial accounts are eligible. All accounts subject to approval. Private Banking Clients are not eligible for this promotion.

IF I AM ELIGIBLE, HOW DO I ENROLL IN THIS PROMOTION?
Between January 1, 2019 and March 31, 2019 ("Offer Period"), Eligible Customers can enroll in the $400/$500 Checking and Savings Offer by visiting a Citibank branch or calling Citibank and asking a Citibank Representative to enroll you. Eligible Customers also can enroll by visiting citi.com/checkingrewards500 to apply for this offer and completing the online process. Enrollment and participation in this promotion does not guarantee eligibility.

PLEASE NOTE: Accounts which have a zero balance for ninety (90) days are subject to closure and will not meet the requirements of this offer.

This is my 1st post, let me know if I missed some information here.

https://banking.citi.com/cbol/18/...7E6B9FED3B
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Created 01-10-2019 at 07:14 PM by Cool_Pacific
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This comment has been rated as unhelpful by Slickdeals users
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#2
Great deal. What is the catch?
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Our community has rated this post as helpful. If you agree, why not rep batmandawg?
#3
Quote from king0fspades
:
great deal. What is the catch?
$15,000
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01-10-2019 at 07:31 PM
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Our community has rated this post as helpful. If you agree, why not rep qkumbr?
#5
Quote from King0fSpades
:
That's nothing. There is no other investment that can provide this rate of return in 90 days.
Chase $600 bonus, similar req's
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#6
Quote from King0fSpades
:
That's nothing. There is no other investment that can provide this rate of return in 90 days.
Return should be calculated at 150 days max, since you have to complete 60 day hold before you meet the requirements. Assuming that you have to wait exactly 150 days, your IRR is around 8%, although your rate of return will be higher if you don't have to wait the full 90 days. And unless Citibank will go under in the next 5 month, this is about as guaranteed as a T-Bond.
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#7
.....
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Last edited by randomperson99 January 10, 2019 at 10:14 PM.
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#8
Quote from creativesolutions86
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Return should be calculated at 150 days max, since you have to complete 60 day hold before you meet the requirements. Assuming that you have to wait exactly 150 days, your IRR is around 8%, although your rate of return will be higher if you don't have to wait the full 90 days. And unless Citibank will go under in the next 5 month, this is about as guaranteed as a T-Bond.
Exactly, I'm in that 90 day waiting period after the 60 days now.
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#9
$100 referral bonus also stacks if you can get someone to refer you .
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#10
Quote from randomperson99
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.....
Lol because banks are in the business of giving people free money? Did you really click thinking a BANK was going to give you $500 for just being born??!
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#11
Quote from xnap30
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$100 referral bonus also stacks if you can get someone to refer you .
$100 for being refereed or referring or both?
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#12
Quote from King0fSpades
:
Great deal. What is the catch?
There isnt much of a catch to these deals if you have $15,000 to put on hold. However if you are on disability/social security/any sort of help from any group that watches you bank accts; i would think twice before showing any of these groups you have $15k saved up. Youa rent allowed to save anything if you are disabled /on SS/getting certain help.

Once you establish good credit youll get offers similar to this in the mail directed towards you that i dont see on here as well. You can easily pull in $2k over 2 years doing this and probably more.

Maybe someone who has done these can chime in and confirm or deny if these offers are churnable after so many years? (certain brands excluded from churning usually).

Im currently getting offers from "citizens bank" to gain $150 if i take out a loan. Im gonna ask about this but it seems there is no catch here except wait a couple months to gain the bonus then pay loan back. (oh and its forcing me to take no less than 5k loan)
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#13
Quote from killerkoala5590
:
Lol because banks are in the business of giving people free money? Did you really click thinking a BANK was going to give you $500 for just being born??!
LOL@ banks giving *their* money away.
SIlly boy, thats YOUR tax dollars, the banker bailouts, and then their mommy (the federal reserve) just prints more fiat currency and thats why every year in america prices go up and they trick you with smaller packages (fun size ect). ( sure you can blame trump for tariff wars, but that is a smokescreen since the dollar always declines).
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Last edited by MrShawn January 11, 2019 at 02:08 AM.
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#14
In Michigan, I got a Citizens bank postcard that gave $400 for $1000 of checking in 90 days, and +$100 for $2500 of savings in 120 days. 2 months ago Key bank gave me $400 for $1000 of checking. So in three months the monthly fees were $0, $25, and $25. The early account closure was $25. I ended up with +$325 for 3 months of Key bank. I am hoping for +$425 at the end of this cycle.
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#15
So if following the offer and followup comments correctly:

-Deposit $15K and maintain for 60 days
-Maintain at least $10K of it for another 90 days (avoid service charge)
-Withdraw funds after 150 days (60+90)

That would satisfy the requirements to keep the $500+ bonus.
Although someone could easily consider keeping funds with Citi for longer.
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