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.