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Citi Priority Checking Account Bonus: $700 on $50K Deposit & More (New Accounts Only)

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Citibank [citi.com] is offering cash bonuses on new Citi Priority Checking Accounts opened by Oct 4, 2021.

Bonus:
  • $300 on $15,000 -> $49,000
  • $700 on $50,000 -> $199,000
  • $1,500 on $200,000 or more
Rokket's Research:
  • ***Must maintain an average minimum balance of $50,000 across eligible accounts to avoid a $30 monthly service fee.***
  • Bonus will be reported to the IRS as interest to the first signer on the account.
  • Must keep account open at least 60 consecutive days after funding the account.
    • Clarification: do not close the account until AFTER receiving your bonus. "Your cash bonus will be deposited to your open, eligible account within 90 days after you complete all required activities." Thanks to onlycash for the tip.
  • Must not have owned a Citi checking account in the last 180 days.
  • More terms and conditions available on website (scroll down the page).
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
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These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Joined Mar 2019
L3: Novice
> bubble2 180 Posts
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Be_Kind
08-15-2021 at 08:50 AM.
08-15-2021 at 08:50 AM.
You need to be careful with Citi. Last time I did a deal like this, I transferred all my money out to close the account but before I could close it they hit me with a low balance fee of $30. My account ended up with a negative balance and Citi started to robo call me constantly to demand payment. After several phone calls I managed to get them to remove the $30 fee and close the account.
You may want to leave the minimum balance ($1,500 or 50K per OP) to avoid fee then tell them to close the account and mail you a check.
Reply
Last edited by Be_Kind August 15, 2021 at 09:18 AM.
Joined Jun 2011
Lily is my sister
> bubble2 39,502 Posts
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Original Poster
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Rokket | Staff
08-15-2021 at 09:38 AM.
08-15-2021 at 09:38 AM.
Hi Be_Kind - thanks for the helpful suggestion. I understand completely - close the account when transferring funds out to avoid low balance fees. With interest rates so low, I'm contemplating new account sign-up bonuses. I've not tried Citi recently, so appreciate all feedback. Thank you! Smilie
Reply
Joined Jul 2007
L5: Journeyman
> bubble2 675 Posts
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onlycash
08-15-2021 at 10:10 AM.
08-15-2021 at 10:10 AM.
Quote from Be_Kind :
You need to be careful with Citi. Last time I did a deal like this, I transferred all my money out to close the account but before I could close it they hit me with a low balance fee of $30...
You may want to leave the minimum balance ($1,500 or 50K per OP) to avoid fee then tell them to close the account and mail you a check.
Quote from Rokket :
Hi Be_Kind - thanks for the helpful suggestion... I've not tried Citi recently, so appreciate all feedback. Thank you! Smilie

Not sure if this is stated clearly above but the account can't be closed till after you get the bonus, not "Must keep account open at least 60 consecutive days after funding the account".

This is straight from the email I was sent by Citi:

"Your cash bonus will be deposited to your open, eligible account within 90 days after you complete all required activities."

I've got 8+ Citi credit cards and have never had an issue with customer service etc.

They solicited me for this checking account bonus a while back and I funded mine with $50K and everything went as expected. My ultimate bonus payout is the end of December.


.
Reply
Joined Jun 2011
Lily is my sister
> bubble2 39,502 Posts
135,865 Reputation
Original Poster
Pro
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Rokket | Staff
08-15-2021 at 10:16 AM.
08-15-2021 at 10:16 AM.
Hi onlycash - thank you for the clarification! Reps to you for your help. Also thanks for the review. Smilie
Reply
Joined Mar 2019
L3: Novice
> bubble2 180 Posts
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Be_Kind
08-15-2021 at 10:36 AM.
08-15-2021 at 10:36 AM.
Quote from onlycash :
Not sure if this is stated clearly above but the account can't be closed till after you get the bonus, not "Must keep account open at least 60 consecutive days after funding the account".

This is straight from the email I was sent by Citi:

"Your cash bonus will be deposited to your open, eligible account within 90 days after you complete all required activities."

I've got 8+ Citi credit cards and have never had an issue with customer service etc.

They solicited me for this checking account bonus a while back and I funded mine with $50K and everything went as expected. My ultimate bonus payout is the end of December.


.
Of course I tried to close the account after I got the bonus. Don't we all do that?
Reply
Joined Jul 2007
L5: Journeyman
> bubble2 675 Posts
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onlycash
08-15-2021 at 10:53 AM.
08-15-2021 at 10:53 AM.
Quote from Be_Kind :
Of course I tried to close the account after I got the bonus. Don't we all do that?

I'm sorry if you misunderstood my response, I wasn't questioning what you did.

It was the original post that I quoted which stated you only needed to "keep account open at least consecutive 60 days" which I found misleading.


.
Reply
Joined Sep 2006
L5: Journeyman
> bubble2 803 Posts
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ychen07
08-18-2021 at 10:32 AM.
08-18-2021 at 10:32 AM.
How long does the account need to remain open? The caveat is that Citibank almost always give bonus late. So 3 months to meet the requirements and another 3 months for citi to give bouns. To avoid the $30 monthly fee you should be prepared to have money sit there for duration of 6 months. With current saving account interest rate of 0.5%, say 50k in 6 months will net $125 elsewhere. So you gain 700-125=575. Not too bad if account only needs to remain open for 6 months.
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Joined Jun 2008
L1: Learner
> bubble2 6 Posts
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miloplays
08-20-2021 at 08:54 AM.
08-20-2021 at 08:54 AM.
I wanted to make sure anyone can apply for this cash bonus offer. Does anyone know if I need to get a special invitation from Citi to sign up for this? Or can I just apply within the link? Assume that I have/will meet all the other requirements for the bonus (i.e. never had a Citi checking, will deposit $xxx dollars by 20th day, etc.).
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Joined Nov 2008
L1: Learner
> bubble2 23 Posts
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bohamsam
09-14-2021 at 10:26 AM.
09-14-2021 at 10:26 AM.
This link allows you to get the bonus with other account types rather than just Priority Checking
http://citi.com/getchecking5

Basic checking is available for $1500 min for no service fee
Reply
Joined Dec 2012
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> bubble2 731 Posts
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itsfighter
09-21-2021 at 02:42 PM.
09-21-2021 at 02:42 PM.
50000 minimum balance to avoid $30 monthly fees? Interesting
Reply
Joined Dec 2012
L5: Journeyman
> bubble2 731 Posts
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itsfighter
09-21-2021 at 03:42 PM.
09-21-2021 at 03:42 PM.
Quote from ychen07 :
How long does the account need to remain open? The caveat is that Citibank almost always give bonus late. So 3 months to meet the requirements and another 3 months for citi to give bouns. To avoid the $30 monthly fee you should be prepared to have money sit there for duration of 6 months. With current saving account interest rate of 0.5%, say 50k in 6 months will net $125 elsewhere. So you gain 700-125=575. Not too bad if account only needs to remain open for 6 months.
you have to keep the money 50k for 60 days then maintain a minimum balance until the bonus gets deposited. minimum balance is 1500 or 50k depends on what type of account/package you select. thanks
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Joined Dec 2012
L5: Journeyman
> bubble2 731 Posts
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itsfighter
09-22-2021 at 02:34 PM.
09-22-2021 at 02:34 PM.
Quote from bohamsam :
This link allows you to get the bonus with other account types rather than just Priority Checking
http://citi.com/getchecking5

Basic checking is available for $1500 min for no service fee
The link I received in my email says - code was already used. so looks like just clicking the link to see the offer will mark your code as used. good IT team.

Could someone please confirm whether opening basic banking using the above link will work and qualifies for the promotion? Thanks for your time

Edit: also found this on their website https://online.citi.com/US/ag/ban...ial-offers
Reply
Joined Sep 2016
New User
> bubble2 108 Posts
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qsnexusb
09-25-2021 at 09:44 AM.
09-25-2021 at 09:44 AM.
Quote from itsfighter :
The link I received in my email says - code was already used. so looks like just clicking the link to see the offer will mark your code as used. good IT team.

Could someone please confirm whether opening basic banking using the above link will work and qualifies for the promotion? Thanks for your time

Edit: also found this on their website https://online.citi.com/US/ag/ban...ial-offers
The second link in your comment works for me, did not attempt to use the first link in your comment. With your second link you can see they also now have a similar deal for a savings account open and fund bonus (expires 09/30/21 for the last day to sign up), but the bonus for most people is substantially less than the checking bonus.
Reply
Last edited by qsnexusb September 25, 2021 at 09:46 AM.
Joined Sep 2016
New User
> bubble2 108 Posts
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qsnexusb
09-25-2021 at 09:49 AM.
09-25-2021 at 09:49 AM.
OP should change the title of this post to mention any Citi checking account is eligible for the same bonus levels, you do not need to open a Citi Priority checking account to get the bonus, even the Basic checking (which has less balance requirements and fees) is available to get this same deal. Use this link: https://online.citi.com/US/ag/ban...ial-offers. They also have this same deal in branch I confirmed, running at least until the first week of October (they may keep extending the deal). The advanced to opening this deal in branch is if you know someone with a Citi Bank account at that branch, like a family member (not sure on their exact requirements here) you can tell them their name and phone and if the rep or manager can locate that person you stated then that person gets $100 for opening the checking account with this same deal (not sure if they referral bonus applies to any other bank account open). That person that referred you gets $100 deposited to their checking account in 30 days. Best to check with the branch first to see if you can get the referral as well for your friend / family member.

Using the above link you can see they also now have a similar deal for a savings account open and fund bonus (expires 09/30/21 for the last day to sign up, and you have some 20 days to fund the account after that), but the bonus for most will be substantially less than the checking bonus.
Reply
Last edited by qsnexusb September 25, 2021 at 09:59 AM.
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