Citibank has a new checking account bonus in which you can earn $200. The promotional code is MVS4. You can call Citibank's toll-free number 1-866-810-9043 to open the account. A reader left a comment about it, and I called and verified it. I'm not aware if there's a promotional webpage or pamphlet. Here are the details:
- Open a Citibank checking account (EZ checking does not qualify) with a minimum of $100
- First $100 earned after 3 months of direct deposit OR using online bill pay for 2 bills per month
- Second $100 earned after 3 more months of direct deposit OR bill pay
- Bonuses will be credited to account within 120 days of meeting qualifications
- Must be a new Citibank customer with no previous Citibank checking or savings account
- Expires February 29, 2008
- Can be opened by phone (1-866-810-9043) or at a Citibank Financial Center (be sure to reference promo code MVS4)
- The monthly fee for the Citibank checking will be waived as part of this promotion as long as direct deposit or bill pay usage is maintained.
- Without direct deposit or bill pay usage, the following fees will be charged: $12.50/mo fee, $0.50/check and $1.50 for non-Citibank ATM withdrawals (fees can also be waived with a $6K balance)
Some important notes regarding Citibank checking accounts:
- Hard credit pull is done in the application (can temporarily ding your credit score) Update 12/09/07: A reader reported being told that Citibank has a new policy in which they only do a ChexSystem check with no hard credit pull when there is no overdraft protection.
- Restrictive online funds transfer service in which outgoing external transfers are limited to a daily limit of $2,000 (was $5K) and a monthly limit of $10,000
- Several readers reported having their accounts closed by Citibank for unclear reasons before receiving bonuses.
I signed up for a similar $200 Citibank promo last year. I received the first $100 promptly, but I didn't automatically receive the second $100. I had to send them a bank mail message. They investigated and credited the second $100 in about a month. I know several readers haven't been as fortunate.
Thanks to the reader who mentioned this new promotion in the comments.