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Open. Deposit. Earn $300. | Citi.com

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Just found out about this and wanted to share with everyone.

https://banking.citi.com/cbol/OM/...efault.htm
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Created 04-11-2024 at 03:24 AM by JoeBuck85
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Joined Jan 2010
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Ride_The_Sky
04-11-2024 at 06:13 AM.

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04-11-2024 at 06:13 AM.
Since OP did not provide details, I'll save you a click:

Open Citi Checking with a enhanced direct deposit by 7/28

Schedule least 2 enhanced direct deposits of total 1500 or more.

Earn $300 after conditions are met.

There are fees if you don't deposit at least $250 via enhanced deposit every month.
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qkumbr
04-11-2024 at 07:05 AM.

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04-11-2024 at 07:05 AM.
Looks like ACH via Zelle/PayPal/Venmo will code as direct deposit.

"An Enhanced Direct Deposit is an electronic deposit through the Automated Clearing House ("ACH") Network of payroll, pension, social security, government benefits and other payments to your checking or savings account. It also includes all deposits via Zelle® and other digital payments when made via ACH using providers such as Venmo or PayPal.

To earn the bonus, qualifying Enhanced Direct Deposits must be made to an eligible checking account that remains open and in good standing."
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Joined Feb 2012
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DaShadow577
04-11-2024 at 07:39 AM.
04-11-2024 at 07:39 AM.
What is a enhanced direct deposit?.also you need a minimum of 1500 per deposit ?
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hoondawg
04-11-2024 at 12:02 PM.
04-11-2024 at 12:02 PM.
Quote from DaShadow577 :
What is a enhanced direct deposit?.also you need a minimum of 1500 per deposit ?
No idea about enhanced direct deposits.

Regarding, the latter question, "TOTAL 1500 or more."
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Joined Nov 2013
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Rand4
04-11-2024 at 04:36 PM.
04-11-2024 at 04:36 PM.
I would like to say all these banking companies must think everyone is stupid.

GOING TO DEPOSIT 30k OR MORE BLAH BLAH BLAH.

no interest on it.. why would I go drop 50k?

The only thing this is good for is to pocket $300 no pretending otherwise citi...
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mrmochi
04-11-2024 at 10:41 PM.
04-11-2024 at 10:41 PM.
Open. Deposit. Earn $300. Get 1099-INT form and pay 50% taxes on the interest.




Fixed that for you!
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bede2k
04-11-2024 at 10:55 PM.

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04-11-2024 at 10:55 PM.
I called CiTi and talked to a rep today and this is what she said:

1. Create an account and make 2 Venmo/Zelle deposits totaling minimum 1500 within 90 days. Once the deposit has been confirmed/shows up, you can withdraw the 1500 and don't need to keep it in the account.

2. After receiving the 300, you can close the account any time.

3. The fees are waived the first 3 months (unless she was mistaken and didn't specify exactly). The fine prints reads:
In addition to Relationship Tier waivers, Monthly Service Fees are waived for Regular Checking accounts and Access Checking accounts 1) when the account has $250 or more in Enhanced Direct Deposits ("EDD")**, or 2) in the month of account opening and for the first 3 full calendar months after account opening.

If anyone can confirm if all these are true, that would be great. So once we open an account, we just need to use Venmo or Zelle and send 2 payments equaling 1500 and within 30 days, we should get the 300 bonus? Can it either be from yourself or a friend/family member?
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Cipher7
04-11-2024 at 11:51 PM.
04-11-2024 at 11:51 PM.
Citibank is making a major revamp to their business model. You need a $30,000 minimum monthly average account balance to avoid any fees... this is regardless of whether you have direct deposits going into the account from work.

Don't think other banks have such requirements... most just want a monthly direct deposit to maintain no fees... its crazy that citibank wants people to have 30k of stagnant money at all times.
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Sdiver2489
04-12-2024 at 03:55 AM.
04-12-2024 at 03:55 AM.
Quote from mrmochi :
Open. Deposit. Earn $300. Get 1099-INT form and pay 50% taxes on the interest.




Fixed that for you!
What marginal tax bracket is the 50% one?
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Sdiver2489
04-12-2024 at 03:59 AM.
04-12-2024 at 03:59 AM.
Quote from Cipher7 :
Citibank is making a major revamp to their business model. You need a $30,000 minimum monthly average account balance to avoid any fees... this is regardless of whether you have direct deposits going into the account from work.

Don't think other banks have such requirements... most just want a monthly direct deposit to maintain no fees... its crazy that citibank wants people to have 30k of stagnant money at all times.
If you have Direct Deposit there is no fees.
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Dai Lo
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TheOldinOut
04-12-2024 at 05:20 AM.
04-12-2024 at 05:20 AM.
Been seeing a lot of offers from banks for checking and savings accounts recently. Bonuses are catching up to credit card bonuses too. Thats good.
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Dai Lo
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TheOldinOut
04-12-2024 at 05:22 AM.
04-12-2024 at 05:22 AM.
Quote from Sdiver2489 :
What marginal tax bracket is the 50% one?
Hes trolling. No such thing. Top bracket is 37%.
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Rand4
04-12-2024 at 05:46 AM.
04-12-2024 at 05:46 AM.
Quote from TheOldinOut :
Hes trolling. No such thing. Top bracket is 37%.

Maybe he's adding state and local?
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LivelySink338
04-12-2024 at 06:05 AM.
04-12-2024 at 06:05 AM.
Is there a workaround if I don't have $1500?
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