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Citibank new bonuses for checking and savings accounts

Updated July 10, 2024
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Citibank, the banking arm of financial giant Citigroup, and the nation’s fourth-largest bank by assets, frequently offers bonuses to attract new customers. Taking advantage of a Citibank new account bonus can net some attractive rewards if you have enough money to meet the bank’s promotional requirements.

Citibank currently has a bonus for new checking customers who deposit new money from outside of Citi. You must open a checking account in an eligible account package, fund the account with new funds within 45 days and maintain a specified balance for another 45 days. Depending on account balance, customers can receive a Citibank bonus of $500 or $1,500.

Citi’s checking bonus offer

Citibank is currently offering a cash bonus for customers who open a checking account in one of four eligible benefits levels and meet additional deposit and balance requirements. The promotions are available for all customers who open accounts with money from outside Citibank by Oct. 8, 2024. Customers can enroll in the promotion online or at a branch.

The minimum deposit and balance requirements and corresponding cash bonuses are:

Deposit and maintain a balance of at least: Cash bonus
$30,000 $500
$200,000 $1,500

This promotion is associated with four account benefits levels:

  • Everyday Benefits
  • Citi Priority relationship tier
  • Citigold® relationship tier
  • Citigold® Private Client relationship tier

What's the catch?

Free cash may seem like a great deal, but Citibank does put some specific limitations on the promotions that can easily disqualify consumers who don’t follow the terms and conditions.

Accounts that qualify for Citi’s checking bonus include checking accounts in relationship tiers of Everyday Benefits, Citi Priority, Citigold® and Citigold® Private Client. Regardless of relationship tier, a minimum deposit and balance of at least $30,000 is required to receive a checking bonus.

Is this a good deal for you?

Some of the Citi packages can benefit customers seeking perks such as unlimited free ATM access or investment resources. Benefits of the Citigold and Citi Priority relationship tiers include:

  • Waived fees for money orders and stop payments
  • Complimentary financial check-ups from Citi Personal Wealth Management
  • Increased limits for debit card purchases, daily ATM withdrawals and Zelle transfers

Additional Citigold benefits include:

  • Unlimited reimbursement of non-Citibank ATM fees globally
  • Investment guidance from Citi Personal Wealth Management
  • Up to $200 annually in cash back subscription rebates

Before opening an account, familiarize yourself with Citibank’s fee structure to avoid needless costs. Citibank does charge monthly maintenance fees on some accounts, though service fees can be waived when a minimum balance is maintained. Citigold account holders do not incur non-Citibank ATM fees, but they are required to maintain a combined average monthly account balance of $200,000 among all accounts (including investment accounts) or the accounts will be downgraded to a lower status. You may need to consider other checking accounts if you don’t have the financial means to meet Citibank’s minimum balance requirements.

Marcos Cabello Arrow Right Writer, Banking/Deposits
Marcos Cabello is a banking writer at Bankrate, where he’s dedicated to helping readers make the best decisions about their finances. Previously, Marcos wrote about money for CNET and NextAdvisor, running the gamut of personal finance topics including U.S. economic policy and cryptocurrency.