$100 Checking Account Bonus at Citibank
Citibank has another checking account bonus in which you can earn a $100 cash bonus. Here's the promotional page. The promo code is CY73. Below are some of the important details:
- Open a qualifying Citibank regular checking account and fund it with a minimum of $1,000 by 12/31/2008
- Within the first month after your account is opened, make at least one direct deposit into your account or make at least two electronic bill payments from your account each month for three consecutive months
- $100 will be deposited to your Citibank checking account within 120 days from the end of the statement period in which you met the qualifying requirements
- This offer is only available to Citi cardmembers who are the primary credit card account holders
- Offer is not valid for existing Citibank checking customers
- must be in a Citibank Account, Citibank Everything Counts or Citigold account relationship package
From a comparison of the 3 qualifying checking account packages, you can see all have monthly fees to worry about. The Citibank Account package requires a minimum combined balance of $6,000 to avoid a monthly fee, a $0.50 per check fee and a $1.50 fee for each withdrawal from non-Citibank ATMs. The combined balance can include balances in the savings accounts, and it also can include credit lines and loans.
Some important notes regarding Citibank checking and savings accounts:
- Citibank's savings account rates have declined more than the competition over the last year. As of 9/05/08, the Ultimate Money Market Account has a 2.65% APY
- No Hard Pulls: In December a reader reported being told that Citibank has a new policy in which they no longer do hard credit pulls when there is no overdraft protection. The CSR in my last chat session stated "We perform a soft inquiry to your credit to verify your identity only." When I applied in 2006 I had a hard pull for opening Citibank accounts, and many others have also reported this.
- 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 (see Citi webpage)
- Several readers reported having their accounts closed by Citibank for unclear reasons before receiving bonuses.
Thanks to the reader who mentioned this promo and this FW thread in the finding deals post.
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