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New $100 Bonus for Citibank Ultimate Savings Account

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Citibank
Citibank has started a $100 sign-up bonus for its Ultimate Savings Account. I had posted on a $50 bonus for this account back in March. Here's the $100 promotional page. The promo code is CYMJ. The three important bonus details in the small print include:
  • Must apply by 5/31/2007
  • Must be a new customer without any previous Citibank deposit accounts
  • $100 will be credited 90 days from the end of the statement period in which your account was opened.

The Ultimate Savings Account has no monthly fees, no minimum balance and no checking account is required. The current APY is 4.65%. There has been concerns on this FW thread that the application may include the checking account and that there may be a minimum $6K balance requirement to avoid monthly fees. However, there seems to have been many confirmations that this is not the case.

In addition to the a less-than-competitive rate, Citibank accounts have some other downsides including a hard credit pull in the application (even if you already have an account with them) and a restrictive online funds transfer service in which outgoing external transfers are limited to a daily limit of $5,000 and a monthly limit of $10,000.

Citibank did come out with a new Ultimate Money Account that has a higher rate (currently 5% APY). However, it seems you'll have monthly fees to worry about unless you've never had a deposit account with Citibank (see post).

For those who don't mind a larger initial deposit, you may want to look into a $200 bonus at Citibank. In March I confirmed with a Citibank CSR that this offer had been extended to 12/31/07. It was only listed in a flyer and not online. You must call the Citibank number 1-866-810-9043 and mention the promo code MGCH. Please see this post for more info.

Thanks to FW member ProBanker for posting this $100 bonus in this FW thread.
  Tags: Citibank, savings account

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Comments
5 comments.
Comment #1 by Anonymous posted on
Anonymous
Citibank is WAY behind the times (not the credit card company - I LOVE my Citi cards) and practically retarded.

I have perfect credit, a very stable, well-paying job that I've held for over 4 years, and already about 5 different bank accounts (thanks to you!). But, they wouldn't approve my account because they couldn't prove my address, even though I've been living in the same place for over 4 years!!

Why?

Because I rent and don't have any of the utilities or a landline phone in my name.

That's it. They apparently won't look at ANY other proof of address! I faxed AND mailed about 5 different forms of address verification (mailed tax documents, 2 mailed bank statements, pay stubs, copy of my license), but they still couldn't verify where I lived.

*&^$*@! idiots.

Don't waste your time unless you pay the utilities or have a (very old fashioned) landline phone.

If you can, grab the money they're offering and get outta there as fast you can.

1
Comment #2 by Anonymous posted on
Anonymous
Applied for the account. Smooth sign up and very helpful CSR. I use a PO for my mail so they will send the papers to me via Fedex to my physical address. Now thats very nice. and if all goes well then with my $100 deposit I will have earned a 100% return on my money. I thank them for the opportunity to be on the receiving end. Its probably one of the easiest ways to earn a "C" note.
Not to mention the additional 4.65% on my deposit and 4.65% on their money.

1
Comment #3 by Arvy (anonymous) posted on
Arvy
Hi,

They have another offer with the promo code CSLN. which gives $100 Sign in bonus.

I belive the expiry is 8/31/2007.

hope this helsp some one

1
Comment #4 by Arvy (anonymous) posted on
Arvy
Hi,

Found a new promo code CSLN which offers $100 Sign in bonus for citi ultimate savings account

4.65% APY, 0 balance.

Hope this helps

1
Comment #5 by Banking Guy (anonymous) posted on
Banking Guy
Thanks! Do you have the link to the new promo page?

I tried substituting this new CSLN code in place of the old code in the old promo page URL, but it didn't show the new details with the new expiration date.

1