I called the 800 number listed in the ad (1-800-349-1987) and was told that it's only available for Texas residents. You have the option to open the CD by visiting a branch or by phone. If you visit a branch, you need to have a checking account. This is not needed if you open the CD by phone. With the phone option, you can fund the CD by ACH debit or by mailing a check.
You may actually want a Citibank checking account. Citibank has a free plane ticket promotion for opening its EZ Checking account (see post). With the EZ Checking Account, you are also eligible for the 4.75% e-Savings account (see post). A Citibank official was quoted by the New York Times saying "when the Fed increases rates, we will go up as well.". Citibank provided proof of this after the last Fed rate hike. So by the end of this week, the e-Savings may be up to 5%.