Citibank Bonus for Checking 2024: Up to $1,500
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Citibank is one of the largest banks in the U.S. and offers a checking account cash bonus. A Citibank bonus could earn you $325, $500 or $1,500 when you sign up for a new Citi checking account and complete the required activities.
How to earn a Citibank checking account bonus
To earn the $325 bonus, you’ll have to deposit at least $3,000 in Enhanced Direct Deposits within 90 days. To earn the bigger bonuses, you'll have to make an incredibly steep minimum deposit and meet a few other requirements. Those who can swing the deposit minimums to earn the bonus will also gain access to other perks the bank offers for keeping large deposits, such as access to wealth management advisors and financial guidance, waived everyday banking fees and higher limits on ATM withdrawals — but should consider how to protect all their money if they deposit more than $250,000.
Here’s a closer look at how to qualify for the Citi checking account bonuses, and some information about what to watch out for when you're considering a bonus.
» COMPARE: Check out NerdWallet’s picks for best bank promotions
Citi checking account bonuses
What you'll get:
Earn $325 if you deposit at least $1,500 in Enhanced Direct Deposits within 90 days.
Earn $500 if you deposit at least $30,000.
Earn $1,500 if you deposit $200,000 or more.
Note that depositing more than $250,000 would put you over Federal Deposit Insurance Corp. coverage limits. Skip ahead to read about deposit insurance limits and this bonus.
Citi direct deposit checking account bonus: $325
How to get the Citi enhanced direct deposit bonus
You’ll need to follow a few steps to be eligible for the offer:
Apply to open a new eligible Citi checking account and enroll in the bonus offer. You can do both at once from the Citibank bonus page (skip ahead to see what accounts are eligible).
You must apply for the new account and enroll in the bonus offer by 01/07/2025.
Provide a valid Form W-9 or Form W-8BEN (note that these forms aren’t typically what you need to open a bank account but they do provide the kind of information you generally need for an account application).
Make a minimum of two Enhanced Direct Deposits (skip ahead to see what qualifies as an Enhanced Direct Deposit). The deposits must total at least $3,000 and be made within 90 days of opening the account.
Keep your account open and in good standing to receive the bonus.
Other requirements
In addition to following the steps above, to qualify for the Citi direct deposit bonus you must:
Be at least 18 years old.
Confirm your account is not subject to backup withholding.
Not have had a checking account with Citibank for the last 365 days.
When you’ll get the bonus
You’ll receive the bonus within 30 days of meeting the requirements.
Our Nerds say:
"A cash bonus is appealing, but many checking accounts, including Citibank's, don’t earn interest. Depending on how much you need to deposit to earn a bonus, you could be better off with a high-yield savings account instead."
Citi tiered checking account bonus: Up to $1,500
How to get the Citi tiered bonus
Follow these steps to be eligible for the tiered Citi checking account bonus:
By 01/07/2025 open a new Citi checking account (skip ahead to see what accounts are eligible). You can enroll in the bonus if you apply from the Citibank bonus page. If you open an account at a branch or by phone, you must also request the bank representative to enroll you in the bonus offer on the same day.
Deposit funds that are new to the bank into the account within 45 days.
Deposit at least $30,000 to earn $500.
Deposit at least $200,000 to earn $1,500.
Maintain your balance for at least another 45 days. Your balance in the checking account on the 45th day after opening will determine your bonus and must be maintained for an additional 45 days (after the first 45 days).
Keep your account open and in good standing to receive the bonus.
Other requirements
In addition to following the steps above, in order to qualify for the Citi tiered checking account bonus you must:
Be at least 18 years old.
Provide a valid Form W-9 or Form W-8BEN (note that these forms aren’t typically what you need to open a bank account but provide the kind of information you generally need for an account application).
Confirm your account isn’t subject to backup withholding.
Not have had a checking account with Citibank for the last 365 days.
When you’ll get the bonus
You’ll receive the bonus within 30 days of meeting the requirements.
What accounts are eligible for Citi checking account bonus?
To qualify for a Citibank bonus, you’ll need to start by opening an eligible checking account. These Citi checking accounts (including those that are also living trust or custodial accounts) are considered eligible for the enhanced direct deposit bonus:
Access checking.
Regular checking.
Depending on your average monthly balance, your account will fall into one of four Citi packages, either a basic package or in one of three relationship tiers:
Everyday Benefits: Basic package; no minimum balance requirement.
Citi Priority: Lowest relationship tier; minimum $30,000 average monthly balance across linked accounts.
Citigold: Middle relationship tier; minimum $200,000 average monthly balance across linked accounts.
Citigold Private Client: Highest relationship tier; minimum $1 million average monthly balance across linked accounts.
The higher your average monthly balance across your linked accounts (including checking, certificate of deposit, IRA, savings and some investment accounts) the more perks and benefits you’ll get at Citi.
Accounts that aren’t eligible for the Citibank bonus
These Citi checking accounts are not considered eligible for either offer:
Trust accounts that are not living trusts.
Estate, business and retirement accounts.
International Personal Bank and Citi Private Bank checking accounts.
» MORE: Learn more about Citi accounts in our Citibank review
Banks are a safe place to keep your money. FDIC member banks benefit from FDIC insurance, which protects your money up to $250,000 per depositor, per insured bank, per account ownership category. If you’re banking over $250,000, there are more precautions you should take to protect your money.
What are Enhanced Direct Deposits?
For the direct deposit bonus, Citibank requires what it calls Enhanced Direct Deposits. These include:
Automated Clearing House (ACH) payments (such as Social Security payments or paychecks).
Deposits made using Zelle.
» MORE: Learn about the best ways to send money
What else to know about Citi checking account bonuses
Here’s some general information that applies to all Citibank personal checking account bonuses.
Your Citi checking account bonus could be taxable. Since bank bonuses are considered interest, when you file your taxes you’ll need to report any bonuses you’ve earned. You’ll need to consider whether the tax liability is worth the bonus amount. Read more about bank bonus taxes.
Only residents of certain areas are eligible for some Citi checking account offers. Check the Citi website to see if your state or region is eligible.
You’ll need to keep the account open for a minimum period. Your new account will have to remain open and in good standing in order for you to be eligible to receive the bonus, which will be deposited into the new account.
Existing Citi customers may be eligible for a bonus offer. The current Citi checking account bonuses require that you haven’t had a Citi checking account in the last 365 days. If you have an existing Citi savings account, for example, but don’t currently have a checking account with the bank, you could be eligible to qualify for a Citi checking account bonus.
What to watch out for when choosing a bonus
The tiered Citi checking account bonus offer pays the biggest award for depositing $200,000. It isn’t the only bank with such steep deposit requirements for bonuses, either. If you’re considering a bonus that requires a large deposit, weigh these trade-offs before moving forward:
Having a large sum of money tied up. Bonus requirements often include leaving money in the account for 90 days, if not more. That’s a long time to go without access to those funds, should you need them.
Missing out on interest. Many checking accounts don't earn interest. The best high-yield online savings accounts currently offer more than 4% annual percentage yield. If you were to put your $200,000 in a savings account with a 4% APY, you’d earn nearly $2,000 in 90 days, which is more than the biggest Citi bonus of $1,500. If you left your money in that savings account for a year, you’d earn upward of $8,000. (Check out our compound interest calculator to see exactly how much you could be earning in a savings account.)
Having more than the standard FDIC insured amount in an account. The standard FDIC insurance limit is $250,000. If your funds are in excess of the standard limit you’ll need to take some strategic actions to protect all of your money, such as having a joint account holder. (Read more about how to protect your funds in excess of $250,000.)
Citi savings account bonus offer
Citi doesn’t currently offer a bonus for opening a new savings account. Depending on where you live, though, you could earn a competitive rate of 4.00% APY with the Citi® Accelerate Savings account.
» GET DETAILS: Learn about the Citi savings account interest rate
Is the Citi checking account bonus worth it?
If you can meet the direct deposit requirements, it could be worth it for you to open a Citi checking account to earn a bonus (and enjoy the perks that come with premium accounts, if you open a non-basic account). If you can't (or don't want to) meet the deposit requirements for Citi's bonus, there are other banks that offer similar cash bonuses with easier and lower requirements. Some of the best bank account bonuses pay $300 for making $500 or $1,000 in direct deposits, for example.
» COMPARE: See NerdWallet’s picks for the best bank promotions
Frequently asked questions about Citibank bonuses
What is the $300 cash bonus at Citibank?
The bank previously offered a $300 checking account bonus for opening a new eligible Citi checking account and meeting Enhanced Direct Deposit requirements. The offer is now for $325.
How do you get a $1,500 Citibank bonus?
You can earn a $1,500 Citi checking account bonus by opening a new checking account and meeting requirements, including depositing at least $200,000.
How do you get a $2,000 Citibank bonus?
Citibank used to offer a $2,000 bonus but it is no longer available.
Check out NerdWallet reviews of other Citibank offerings:
The information related to Citi checking accounts has been collected by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.
