Citibank Offers $500 Checking Bonus


UPDATE 4/17/2017: Offer extended through June 30, 2017.

Deal Summary: $500 checking bonus

Availability: Nationwide

Now through April 14 June 30, 2017, Citibank has a $500 bonus when opening a new Citi Priority Account Package checking account.

$500 Bonus Requirements

  • Open a new eligible consumer checking account in The Citibank Priority Account Package* by April 14 June 30, 2017.
  • Within 45 30 days of account opening, deposit at least $50k of new money into the new checking account, or a new or existing Citibank Savings or Savings Plus Account.
  • Maintain a minimum balance of $50k for 60 consecutive days following date of qualifying deposit, AND
  • Have one qualifying Direct Deposit per month for two consecutive months, within 30 days of account opening.
  • Enroll the new checking account in Paperless Statements with 30 days of account opening.
  • Cash bonus will be credited to new checking account within 90 days of the above requirements being met.
*Citi Priority gives you a wide range of benefits designed to help you manage your financial life. Benefits such as preferred rates and waived fees on select deposit products and services provide savings, while integrated service and support provide flexible options.


  • Must not currently have a consumer checking account with Citibank or have been a signer on or an owner of a Citibank consumer checking account within the last 60 days.
  • May have an existing Citibank Savings or Savings Plus Account, but must meet the new-to-Checking requirement.
  • Cannot be combined with any other checking offer, but if you meet the terms of two or more checking offer within the same calendar month, you will receive the offer with the higher bonus value.
  • Limit of one offer per customer per account.
  • With the exception of the first two months following account opening, a $30 monthly statement fee applies, “if you do not maintain the required $50,0000 in combined average monthly balances in eligible linked deposit, retirement and investment accounts.”

Thanks to the DA reader who alerted me to this Citibank bonus.


Headquartered in Sioux Falls, South Dakota, Citibank offer its services and product nationwide.

Applying for the $500 Citi Priority Checking Account bonus can be done online, by phone (866.583.6712), or in person at any of 1,050 branches located in California (314), Connecticut (13), District of Columbia (16), Delaware (1), Florida (54), Illinois (61), Maryland (11), Nevada (9), New Jersey (9), New York (238), Puerto Rico (2), South Dakota (1), Texas (56), and Virginia (7).

Bank Overview

Citibank has an overall health grade of "A" at, with a Texas ratio of 4.53% (excellent) based on December 31, 2016 data. In the past year, Citibank has increased its total non-brokered deposits by $19.16 billion, an excellent annual growth rate of 2.21%. Please refer to our financial overview of Citibank (FDIC Certificate # 7211) for more details.

Established in 1812 as The National City Bank of New York, Citibank is one of the world’s largest financial institutions with more than $1.3 trillion in assets. Citibank is a subsidiary of CitiGroup, which was formed when banking giant Citicorp and financial conglomerate Travelers Group merged in 1998. The Bank was rebranded as Citibank in 1976 and relocated its headquarters to South Dakota in 2001.

How the Citibank $500 Bonus Compares

Assuming a 5-month timeline ($50k on deposit for 60 days + 90 days to receive the bonus), with the $30 monthly service fee waived,

  • $50k for 150 days in a Citibank checking account = $500 bonus
  • $50k for 150 days in a savings account earning 1% = $207 interest

Other Promotions and Bonuses

Not eligible for Citibank’s $500 bonus? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, readers and I also post often on bonuses in the Bank Promotions Forum.

This post was first published by on 1/9/2017.

dlweiss0622 | | Comment #1
I got the previous new account bonus of $400 but I concluded that the hassles were not worth the trouble. I found their customer service to be poor and several errors were made on my account which required MANY phone calls.
RichReg | | Comment #2
I agree. If I had to do it all over again (and I've done this quite a few times), I'll stick with Chase for $350 and only tie up $10K for 90 days.
Anonymous | | Comment #5
It's not either/or. I do Chase and many others also. Citibank is eminently reliable to pay their bonus offers in my experience, IF YOU METICULOUSLY MEET THE REQUIREMENTS. Most sour grapes from people are due to irregularities on their part. Commenter #1 refers to "hassles" and "errors" without saying what they were (poor customer service is a given everywhere, - you always have to check and re-check and confirm and verify that things have been processed correctly). Commenter #2 agrees but provides no details, - for someone with no posting reputation here a pretty worthless affirmation. Commenter #3 grouses about fighting to get a 2nd bonus after already receiving one earlier than expected but provides no details. Being "due the payment" depends on whether he upheld his end of things, and we don't know that. If this offer appeals I'd be confident Citibank will meet its obligations, - but just meticulously make sure you meet all of its terms.
RichReg | | Comment #10
First, let me apologize for not meeting your reputation criteria... I must've missed the E-mail from Ken. Moving on...

I agree with dlweiss0622 because meticulously meeting the requirements can be a pain in the **** sometimes and, even though I'm regularly compliant, there's always a slim chance something might come up and impede you from meeting those requirements.

WHY SO METICULOUS? Well, that's where these banks forget that they're trying to get customers in ...not **** them off so that they close their account. Customer service and understanding of a sudden change in financial arrangements is something banks are supposed to cater to...not come up with excuses like I didn't meet requirements. So the 'hassle' on these offers comes in because they won't work with you in the slightest...which is irritating. Any bank with this type of offer will throw all courtesy out the window because they really don't want to see you take the money and run. But I'm certain Citibank would honor this I know Chase has for me several times. BTW, Chase's latest offer is now $500 for tying up $15k for 90 statement fees either.
Anonymous | | Comment #17
What you don't seem to understand is that Citibank's (and other FI's that do these promotions) system is rigidly programmed to automatically credit the bonus as soon as all the terms have stringently been met. There's no office staff spending their days making decisions whether to pay account holders bonuses or not. That said, I suppose programming errors are possible that might result in a deserved bonus not being paid. But I don't believe it's ever some deliberate scam. This offer isn't a very good one in any case. Your funds earn nothing except the bonus, which after 5 months would amount to less than a 2.5% yield. OK, I suppose, but with any anxiety they might not get paid probably insufficient for most prospects to make the commitment.
Anonymous | | Comment #18
I'm with you on that statement, #17!
Seen | | Comment #29
Guy from citi bank. I see so many complaints floating. Save you money
Cy Bakar
Cy Bakar | | Comment #34
I agree. Chase will give you the bonus right away on time. citi bank is cheating and do not pay. Citi bank takes people money and use it for themselves and promise to give you bonus but they do not. Scam Bank.
citiblows | | Comment #3
Same here, I had one account get the 400 bonus early, and Im still fighting over another account 3 months after I was due the payment. Citi sucks
Alli | | Comment #21
Are you fighting 3 months past the "60 days", or 3 months past "150 days"?
Cy Bakar
Cy Bakar | | Comment #35
Account was opened in March, it is July I still have not got my bonus. I have called 10 times the bank tells me wait another month each time I call. Bank is scam and cheating poor people.
Anonymous | | Comment #4
The way to take advantage of this offer is keeping the 50K in your new account for only the required 60 days, and then accept the $30 monthly fee until the bonus has been paid (after which immediately close the account). That nets you $410 for a two month commitment, which works out to about a 2.5% yield, - not bad. Can anyone say if Citibank typically takes about the full 90 days after requirements have been met to pay their bonuses? Some other FI's allow themselves the same but pay much more quickly.
Anonymous | | Comment #6
They are very fussy about people closing or retrieving the money back after the bonus is paid.
A friend of my bonus was revoked do to some disclosure that says: " Must be opened and maintained in good faith"
Anonymous | | Comment #7
How would a bank know what good faith is?
Anonymous | | Comment #8
The very same way people looking for the bonus money and opening new accounts would know what good faith is.
Anonymous | | Comment #9
Not in any bank contract I have
Anonymous | | Comment #11
To #9, please read Citibank rules for withdrawals:
".....Withdrawal Refusals
In some instances, we may refuse a request for a withdrawal or
transfer from an account. The following list includes, but is not
limited to, the most common reasons we might refuse such requests:
• If the funds you wish to withdraw are not yet available; (See
the “Funds Availability at Citibank” section of the Marketplace
• If we decide to require seven (7) days advance written notice and
we have not received such notice;
• If there are insufficient funds in your account;
• If you use a type of check not acceptable to us;
• If the funds you wish to withdraw are being held to cover a
checking account withdrawal under our Safety Check service;
• If the funds you wish to withdraw are being held due to cashing of
a third party check against the account or for any other reason;
• If the withdrawal would consist of money owed to us;
• If the withdrawal you are requesting is of the type that is limited
by federal regulations, and you have already reached the
applicable limit;
• If, in the case of a joint account, any account signer gives us
written instructions not to permit a withdrawal;
• If the account is pledged as collateral for a loan;
• If an account owner has died and we have not received all
documents required to release funds in the account;
• If we have not received documents or identification required to
permit access to the account, such as when the account is new
and documentation remains missing;
• If we have been ordered by a court or other legal process not to
permit the withdrawal;
• If you do not present us with appropriate identification or any
other information that we may require;
• If we are aware of any dispute relating to the account or funds
in the account;
• If we have some suspicion of fraud, irregularity, or illegality; or
• If we believe that the signature on a check or item drawn on
your account and presented for payment does not appear similar
to that appearing in our records. ....."
Anonymous | | Comment #12
Lack of "good faith" isn't one of them.
Anonymous | | Comment #13
I know it ...but some banks weren't see it even if it was in front of them
Anonymous | | Comment #14
Nor some depositors.
Roger | | Comment #15
I would never again respond to any CitiBank promotion. I'm now trying to get them to fulfill the $400. promotion offered in August of 2016. Citibank also failed to pay a promotion in which I participated in 2005... I stayed away from them for 11+ years and should have continued with that decision. Citi can not be trusted in my opinion.
Anonymous | | Comment #16
Why do they say they haven't paid you the $400 #15?
Cy Bakar
Cy Bakar | | Comment #33
I agree %100. Citi bank is cheating consumers and this is false advertising. I have not got my bonus either after 4 months.
Anonymous 2
Anonymous 2 | | Comment #19
I too am waiting for the $400 bonus. Many phone calls to no avail. This after incredible hassles setting up the account on line. I finally had to go to a retail branch, 350 miles away, to complete the funding and paperwork. Not worth the $400. Never again.
Silver | | Comment #20
Lmao!!! I feel sorry for people who waste time with Citibank, its all false advertisement People!!!
I been fighting for over a year to get the "bonuses" and interest of my 50K nothing got ever solved despites I had to refax multiple times the needed information, which I had summited at acct opening.
million excuses lots, and lots of calls and much time wasted over this. Is it Worthy? NOOO!!
Don't waste time with this bank/people. Save yourself a headache and trouble.
gregk | | Comment #22
Can anyone say they've received a Citibank Checking bonus as promised and on time?
deplorable 1
deplorable 1 | | Comment #23
Actually I can. Last year I received 2 $400 bonuses from Citibank for the wife and I. It only took 3 months total from start to finish(closing accounts) to get the bonuses. That deal was much better though because you only needed to deposit $15,000 for 30 days and then you could drop it down to $10,000 to keep the account fee free until the bonus posted which only took under 2 months. With this deal you need to keep $50,000 on deposit to avoid the $30 monthly fee for up to 6 months. If you put $50,000 in a CD earning 2% or better in 6 months you would have $500 anyway with much less hassle. The opportunity cost with this offer is way too high IMHO.
Cy Bakar
Cy Bakar | | Comment #31
Good question. No. I still have not got my Bonus. Account was opened March, now is July. Citibank is cheating customers.
Cy Bakar
Cy Bakar | | Comment #32
Citi bank still have not paid my bonus after 4 months. It is scam advertising.
anonymous | | Comment #24
I did last years Citi's promotion and it was paid on time. If I remember correctly I downgrade the account after the bonus was paid and then closed the account without issue by first draining it to zero and then sending an email. Closed without issue. Having said that the entire process of establishing the account and funding account was painful....all caused by Citi's inadequate processes. According to various Citi's CSRs, Citi is well aware of how terrible their service and processes are but they simply don't care. My recommendation to all that have problems resolving issues with Citi or any other bank is simply call or submit a formal complaint to the "Office of the Comptroller of Currency" which is the Federal overseer of all US Federally Insured Banks. Several years ago I had an issue with a bank, called the Comptroller of Currency Office who gave me a number for the special resolution dept at that bank, called the dept and the issue was immediately.resolved.
deplorable 1
deplorable 1 | | Comment #25
I agree Citibank has awful banking procedures. The funny thing is that I love their credit cards. They have some of the best rewards programs like the 2% double cash card and the customer service has been great. Now why they can't seem to get their banking straightened out is very puzzling.
DCGuy | | Comment #26
I get many bonus money offers from Citibank to open a checking account. I look at it simply like this. Their interest rate for the checking account is miniscule. So the $500 bonus is your actual interest earned up front for the life of the account. If you keep $50K in a 1% online savings account over one year, you get $500. The main difference is that Citibank will give you the $500 faster than the online bank account. But leaving the $50K with Citibank for many years is a losing proposition. This kind of buy and sell like for day trading stocks makes sense to get "quick kills". But unlike day trading, the bonus offers dry up quickly since you cannot keep getting them over and over again.
congsw | | Comment #27
is there any early account closure fee?like chase charges if we close before 6 months.
deplorable 1
deplorable 1 | | Comment #28
I closed my 2 accounts with them with no fees or issues. Just did a third part bank ach pull and notified customer service to close the account through the online message center. TIP: Citibank has a $2,000 daily and $10,000 monthly limit for ACH transfers to 3rd party banks from their website so if you don't use a ACH pull from another bank it will literally take you forever to get your $50,000 back out! You will be stuck with .01% interest plus a $30 monthly fee! I used my Discover savings account to pull out the balance first and then closed the accounts.
Cy Bakar
Cy Bakar | | Comment #30
This promotion Bonus is scam by Citibank. I have opened an acc. on March 27,2017 still have not got my bonus. It is more than 4 months. This is a fake advertising and citi bank is cheating the customers. Do not trust this bank. Other banks with their promotion bonuses did not have any problem. This is first time I see a bank cheat customers.
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