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New $200 Checking Account Bonus at Citibank

POSTED ON BY

Citibank
Update 8/7/07: A reader reported being told by Citibank that this offer code (MGCH) has ended.

Citibank has a new promotion for opening a new checking account. You get the first $100 for opening a regular checking account (EZ Checking is eligible) and funding it with at least $1,500 within 60 days of account opening. To get the second $100 you either have to sign up and use direct deposit for 6 consecutive months OR pay 2 bills a month for 6 consecutive months at citibankonline.com. The offer is valid through March 31, 2007. It's only available to first-time Citibank checking/deposit account customer. Credit for this find goes to this SlickDeals thread. The thread also has a scan of this offer.

I confirmed that the number in the scan (1-866-810-9043) is a valid Citibank number. I called and was told that the promo code MGCH is valid. You can open the checking account with this promotion on the phone. Note that they do a hard credit inquiry in the application. You have the option to fund the account over the phone with an ACH transfer or by check after they send you the account opening package in the mail.

This promotion doesn't require opening an e-Savings account. You can always open the e-Savings account later. The e-Savings still has a 5.00% APY and would be a useful account to have with this checking account (see post).

Beware that many people have reported not receiving previous Citibank promos (see post). So "your miles may vary."

I also learned from the customer service rep that the special 6.00% APY 6-month CD is no longer available for those in Texas. It ended a couple weeks ago. However, they are still offering a 5.50% APY 6-month CD which is available nationwide.

Update 4/23/07: According to the Citibank CSR as of 3/21/07, this $200 promo has been extended to 12/31/07. See this new post for more info. For more info on my experiences with this promo, please refer to this post.

Related Pages: Citibank

Comments
42 Comments.
Comment #1 by rate freak (anonymous) posted on
rate freak
This a great deal. I applied for it, rec'd the first $100, but the 2nd $100 is taking a long time. I msg'd CS, they are investigating and insist it can take up to 30 days to complete.

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Comment #2 by P.D. (anonymous) posted on
P.D.
Rate dropped for Citi 6 month CD, from 5.5% to 5.25%. Too bad.

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Comment #3 by P.D. (anonymous) posted on
P.D.
I had checking account, it seems I can not take this offer, because it requires the first check account customer only. Too bad too.

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Comment #4 by Anonymous posted on
Anonymous
"funding" the checking account with $1500 does not also mean "maintaining" that amount for any duration, right? so I should be able to "fund" the checking account with $1,500, and transfer as much of it as I want into an e- savings account, and still qualify for the 2 $100 bonuses, right?

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Comment #5 by Banking Guy (anonymous) posted on
Banking Guy
Yes, that is how I interpreted it from the CSR. You should be able to transfer it to the e-Savings and still be eligible. You should also be able to withdraw it and be eligible, but you'll need to do the direct deposit or bill pay to avoid monthly fees. But if you do this for the second $100, it may not be a big deal.

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Comment #6 by Anonymous posted on
Anonymous
Is this only available for people who can go to a citi financial center? or anyone can apply?

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Comment #7 by Banking Guy (anonymous) posted on
Banking Guy
I was told by the CSR that you can apply over the phone without having to visit a branch. Just be sure that you give them the promo code.

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Comment #8 by Anonymous posted on
Anonymous
I tried this code today and it doesn't recognize it.

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Comment #9 by Justin (anonymous) posted on
Justin
How come?
I also called in today (Oct 28) and the csr verified this offer and let me open it.
Also, he tried to convince me to get the overdraft protection credit line $500 which I denied. Since it's a credit product so I assume it will also show up in credit report. Besides, it takes you $5/year even you are not using that credit line.

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Comment #10 by Anonymous posted on
Anonymous
I went to a local branch last Sat. and tried to open an account. but the rep there was cluecless about this promo...

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Comment #11 by Banking Guy (anonymous) posted on
Banking Guy
Knowing the promo code seems to be important to get this deal. When I called, I just told the CSR of the promo code, and he was able to verify it. Please let us know if the promo code no longer registers.

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Comment #12 by Anonymous posted on
Anonymous
hey..thnx..its a gr8 offer...
I shall also open an account ASAP..but can anyone tell me that the balance of 1500$ has to be for what period..for example a day or a month..I am a student, and I need not explain anymore :)...

thnx again!!

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Comment #13 by Banking Guy (anonymous) posted on
Banking Guy
I think the first $100 bonus only requires an initial deposit of $1,500. After that the only thing to worry about is to avoid fees associated with the EZ Checking. One of the ways to have the monthly fee waived is the $1,500 in combined balances. But there are other ways, like the use of direct deposit, or if you make two monthly bill payments.

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Comment #14 by Banking Guy (anonymous) posted on
Banking Guy
On Dec 1, 2006, I received my first $100 bonus! Please see this post for all the details.

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Comment #15 by Anonymous posted on
Anonymous
I tried opening an account online and this Offer Code does not register. I will try calling the 800 number and see if they accept it.

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Comment #16 by Anonymous posted on
Anonymous
Called the number mentioed and opened the account. They accept this Offer Code on the phone.

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Comment #17 by Anonymous posted on
Anonymous
I went to my local branch with the printed coupon and I was denied the account because I didnt had the original coupon they would not accept a copy.

But I went to a different branch and I told them That I had lost the original coupon and I was able to open it (I am very happy)

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Comment #18 by Anonymous posted on
Anonymous
I went to my local branch with the printed coupon and I was denied the account because I didnt had the original coupon they would not accept a copy.

But I went to a different branch and I told them That I had lost the original coupon and I was able to open it (I am very happy)

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Comment #19 by procol (anonymous) posted on
procol
Amazingly I opened this online with code CEBA, and find that the bonus is the same , but the terms seem to be different.

You get the $100 only after 6 months of paying bills or DD, and then 120 days later get a second $100.

At least that was how the rep just explained it to me. How many different schemes do these guys run at once?

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Comment #20 by Anonymous posted on
Anonymous
Good luck getting any bonus money from Citi and if you make even the smallest mistake they will slam you with many fees and make your life miserable.

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Comment #21 by sophie (anonymous) posted on
sophie
I got my ATM card today. Hopefully will get the whole package soon. A nice deal. I will post when I finally get the bonus.

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Comment #22 by Anonymous posted on
Anonymous
Great deal, yes, but I called to open the account on Feb.15. Received entire packet (ATM, PIN, Checking) with name misspelled by Feb.22. Set up online account - not funded yet. Called to get name corrected... told have to do by mail (not true)... Called again, got CS to correct spelling. Faxed signature page (in order to proceed more quickly) on Feb.23. Received Letters saying problems with account Feb.28. Cannot log into account. Called CS... Account funding still pending (aargh)... Online Account locked due to name change, sending new ATM & PIN. Now I MIGHT be able to log into my account when I get the new items - expected date 3-6. But, it's still worth the $200 for putting up with them. Not sure if I'll Keep the account though. TBD.

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Comment #23 by Anonymous posted on
Anonymous
Man do they suck! I believe this deal originally expired 12/31/06. I opened the account before the original end date and submitted all the necessary documentation. They called me on my cell (I have no land line) and requested additional info. I provided them everything they asked for and they never called back. I called back to find the status and they asked me to resend everything, that happened a second time. So they got everything 3x over. Then they said they weren't able to verify my employment over the phone. Which was because they never called me (Worse case scenario, I have voicemail at work). I was told I could go into a branch and would receive the same deal. Did so and opened an account, only to be told it was a different promotion ($100 after 1 year) and not only that I was no eligible for the original promotion. I immediately closed the account I opened. This is the hurdles I have to jump through before they have my money?!?

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Comment #24 by Anonymous posted on
Anonymous
I just called to a branch here in Miami (without the printout) and was told they had never heard of the promotion. I mentioned the code MGCH but was told that it doesn't exist at the branch level. I'll try again tomorrow with a printout and see how it goes.ztrhett

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Comment #25 by Banking Guy (anonymous) posted on
Banking Guy
I would recommend trying one of their national numbers such as the one I list above. Local service reps may not be given the info on these promotions.

A reader mentioned in this bonus update post that a Citibank rep told him that this MGCH promotion is being extended to the end of 2007. Please let us know if you hear the same thing.

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Comment #26 by Anonymous posted on
Anonymous
Miami- I went back to the branch today with a printout of the offer from the slickthreads site. The guy I dealt with called the phone number in the offer and they verified it. So I got the promotion code applied when opening the checking account. I'll just wait and see if the $200 arrives now :-)

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Comment #27 by Banking Guy (anonymous) posted on
Banking Guy
Glad to read that they verified the bonus. Remember that the first $100 will be pretty quick, but the second $100 will take some time since it requires 6 months of direct deposit or bill pay.

I confirmed that this bonus has been extended to 12/31/07. Please see this post for more info.

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Comment #28 by Anonymous posted on
Anonymous
I have e savings in citi bank right now. If I use this promotion and open new account. Would I qualify for this $200 bonus?

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Comment #29 by money grubber (anonymous) posted on
money grubber
I've yet to see a post from anyone out there who has opened a citibank checking account for the $200 bonus after the initial offer expiration of 3/31/07. Can anyone make such a claim or provide new information since that date?

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Comment #30 by Lo (anonymous) posted on
Lo
Oh my gosh I had almost the same experience as Anonymous, at 11:52 AM, March 10, 2007. I had originally opened the account March 31st and I received a letter a couple days ago saying b/c they didn't receive the necessary information needed from me, they are withdrawing the application for that account. I had sent the information TWICE (snail mail and then fax) and they still weren't able to verify jack AND in addition to that, still needed other information from me. They had said they called me many times at work (which they didn't) and called the number on my pay stub I sent them and weren't able to verify my employment and as a result would need a letter from my company on company letterhead (all of which I did not know about until I called them after I received my "application withdrawn" letter). Ugh...all the trouble I had/would've had to go through!

Does anyone know if the $200 bonus still works for existing Citi customers who DON'T have a checking account (b/c I opened an Ultimate Savings shortly afterwards for the sake of convenience)??

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Comment #31 by Anonymous posted on
Anonymous
Don't waste your time - I also experienced the exact situation described in the comment above. I went into the bank branch to verify my identity and Citibank closed my account a month later with absolutely no warning because my identity hadn't been verified. Malarkey. My account was made inaccessible and I had to wait a week for my $1500 to reach me in the mail. Thank God I didn't need that money to eat. I argued to them on the phone that the terms of the promotion didn't say anything about how long the account had to stay open (avoiding arguing about why the account was closed, which as well was probably a deliberate move on Citibank's part), and they made the counter-argument that the account had never been open. Then can someone please explain to me how I continued to use it for a month before it was closed? How can an account be closed if it has never been opened? I continue to hold a Citibank credit card because I have never had any problems with it, but I will never, ever reopen a checking or savings account with them. This company treats customers like trash. I recommend anyone considering taking advantage of this offer to forget it. Your money will get tied up and they will waste loads of your time. Spend your energy elsewhere. Do overtime at work or something - you're going to spending that much time arguing with them anyway when they close your account for no reason.

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Comment #32 by Anonymous posted on
Anonymous
I finally received the second $100 bonus from Citi. My timeline was open acct 11/06, 1st bonus posted 1/07, 2 bills for 6 consecutive months completed in 4/07, second bonus received 7/07.(FYI:2nd bonus takes forever. Claims of wrong offer code by CSRs, 120 days until it can be posted etc. Finally wrote the client research dept referencing my online querry, correcting their misstatements, and enclosing a copy of the offer page from citi's website.)

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Comment #33 by kunjslicky (anonymous) posted on
kunjslicky
hi,
someone told that offer extended till 12/31/2007, i have opened my account in May with promo code MGCH. does anyone has the scanned copy of the offer that says it is valid in month of may? otherwise i am ****ed up...

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Comment #34 by Christian (anonymous) posted on
Christian
sounded like a good deal. my wife called them. they asked her if she wanted a joint account with her husband, wouldn't make a difference although i was already citi customer. guess what: the bonus never came through, we call them weeks later and they tell us: nope, your husband was not a citi customer, sorry. cancelled the account today.

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Comment #35 by Anonymous posted on
Anonymous
Called 1-866-810-9043 on Aug 6 and was told the offer code MGCH was expired.

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Comment #36 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Sorry to see it end early. I've updated the post with this info.

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Comment #37 by Anonymous posted on
Anonymous
I called the 1-888 number on 9/11. Tried the MGCH code but representative said it's not valid. Asked if there were any offer of $200 for checking and he said there were none.
If anyone knows of a VALID code, post it.
I got the $50 promo 3 months later for the e-savings from citibank.

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Comment #38 by Banking Guy (anonymous) posted on
Banking Guy
I just did another post on Citibank bonuses. I was told that it's still available through 12/31/07 . I don't know why we get different info. Perhaps try the number I mention in this new post.

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Comment #39 by Anonymous posted on
Anonymous
I opened a checking account with the promo code and have not received any $. I was on the phone for nearly an hour with no resolution yet.

They need 2 more wks to "investigate".

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Comment #40 by Anonymous posted on
Anonymous
Called the # yesterday and was told that it is no longer being offered

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Comment #41 by Anonymous posted on
Anonymous
12:51 anonymous got a break. My investigation is going to take 30 calendar days. Disappointing.

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Comment #42 by Ganeshbaba (anonymous) posted on
Ganeshbaba
Background:
Recently(14-Nov-2007) i have moved into a new apartment and along with my change of address confirmation, i have received few coupons. I received one for opening checking account with CITIBank with "MGLA" offer code. I visited the nearest financial center to open the new checking account by funding $1500. But they were not able to accept the coupon as that one is valid until 31-JUL-2006. I can fax or send the scanned copy of this coupon on request.

My Question : When i moved into my new apartment on 14-NOV-2007, why the invalid coupon was sent to me (which was expired in 31-JUL-2006) in that package?

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