Citibank Bonuses & Promotions

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I know for a fact that saving money is on many people’s minds, and is especially important in these unprecedented times. Any opportunity to save, whether it’s opening a new high yield savings account, taking advantage of great CD rates or various savings offers, can make a difference to your financial situation.

Today, I’ll tell you how to save money by becoming a Citibank customer through their bonuses and promotions.

Throughout the year, Citibank releases new promotions and bank bonuses to help customers open new accounts. In fact, there are currently several ongoing promotions where you can make as much as $3,500 in bonus cash.

Most promotions have some requirements that need to be met, including maintaining an average monthly balance to get the advertised cash bonus. We have listed all of the major points of each promotion on offer so that you can make the best choice for you.

Citibank’s Current Bonuses & Promotions

Citibank is currently offering a varied selection of promotions and bonuses aimed at different types of people.

If you’re looking at opening a new Citi checking account, a savings account, or need a credit or debit card, there is something that is going to help you make the most out of it.

By taking advantage of these excellent bonuses and promotions, you could be saving hundreds (and even thousands!) of dollars – but you do need to be smart about it.

Banks allow you to save and get bonuses, but they also make sure there are criteria to meet for you to get them, so you can’t just open an account and leave it. You’ll need to put in a little bit of work and make some calculations – but it’ll be worth it.

That said, starting out with Citibank is really quick and simple. You can open a Citi account in a few minutes online, which makes it easy to get started.

Let’s take a look at these Citibank bonuses and promotions in more detail.

Citibank $700 Citi Priority Package

This offer is valid 07/01/2020 – 01/05/2021

This package is an amazing opportunity to get $700 for opening two new accounts. The two eligible linked accounts are a Citibank checking account and a savings account. You’ll need to open them during the promotional period and make a qualifying deposit to get your $700 sign-up bonus.

Requirements:

  1. Open a Citibank Account Package with personal checking and a savings account
  2. Deposit $50,000 or more in the checking and savings account
  3. Maintain a balance of $50,000 or more for 60 days

These have to be new-to-Citibank funds, meaning they need to be transferred from an external account and not from an existing Citibank account.

When opening the account, Citibank might need to carry out a credit check. This check is called a soft pull and will not affect your credit score, so there is nothing to worry about.

The account also has a monthly fee of $30, which can be waived if you meet certain criteria. To avoid paying the monthly fee, you need to keep a balance of at least $50,000, which can include eligible deposits, investment, and retirement balances.

On the other hand, the Citi Priority account package comes with many useful features designed to make your banking life easier.

Features:

  • No ATM fees
  • Online Banking
  • Deposit checks on mobile
  • Service fee waiver

Citibank Basic Banking Package $200 Checking Bonus

This offer is valid 07/01/2020 – 01/05/2021

If you’re looking at opening a checking account but not intending to make a large deposit, then this offer might be for you. You can get a $200 cash bonus for opening a Basic Banking Package checking account and making a qualifying deposit.

Requirements:

  1. Open a Basic Banking Package new eligible checking account
  2. Deposit at least $5,000 within 30 days
  3. Maintain a balance of $5,000 for 60 days.

The deposit has to come from a non-Citibank account to be valid. If you plan on depositing $15,000 or more, check out the next offer before making your decision as this doubles the bonus money you get.

This offer is available nationwide, and a credit check may be carried out during the process. The check is what is called a soft pull and will not have an effect on your score.

The account does have a $12 fee, which is payable monthly. You can waive the fee in one of three ways:

How to Waive the Fee:

  1. Make at least one qualifying direct deposit and one bill payment per statement period
  2. Maintain a balance of $1,500 or more
  3. Be over 62 years of age

Features:

  • Online Banking
  • Fee-free ATM usage
  • Online bill payment
  • Mobile check deposit
  • Bill settlement through Citi with Zell
  • Balance and payments alerts
  • Easy money transfers
  • Dining and entertainment perks

Citibank Account Package $400 Bonus

This offer is valid 07/01/2020 – 01/05/2021

This particular offer is geared towards customers looking to open a checking as well as a savings account.

Requirements:

  1. Open eligible savings and checking accounts under the Citibank Account Package
  2. Deposit $15,00 or more within 30 days of account opening
  3. Maintain a balance of $15,00 or more for 60 days

This offer is available across the US. A soft pull credit check may be carried out, so this will not affect your credit score.

Furthermore, there is a $25 monthly service fee that can be waived if you manage to keep a $10,000+ account balance combined.

Features:

  • Online banking
  • No ATM fees
  • Online bill payment
  • Deposit checks from your mobile
  • Citi with Zell bill settlement
  • Easy money transfers
  • Alerts
  • Citi Private Pass

Citibank $200-$1,500 Checking Savings Bonus

This offer is valid 07/01/2020 – 01/05/2021

You can get a checking account bonus of up to $1,500 when opening a Checking Savings Account with Citibank.

This offer is available on different packages giving you flexibility on how much you need to deposit to be eligible for the bonus.

Do keep in mind that the bonus amount will vary according to the size of the deposit you make.

Requirements:

  1. Open a Checking Savings account through any of the below packages
  2. Make the minimum deposit according to the chosen package within 30 days
  3. Maintain the minimum balance for 60 days

Here is a list of the available packages including what you need to deposit and the bonus amount you can expect to get in return:

Bonus Amounts:

  • Basic Banking Package: Deposit a minimum of $5,000 and get a $200 bonus
  • Citibank Account Package: Deposit a minimum of $15,00 and get a $400 bonus
  • Citibank Priority Account Package: Deposit a minimum of $50,000 and get a $700 bonus
  • Citigold Account Package: Deposit a minimum of $200,000 and get a $1,500 bonus

Availability:

This offer is only available in these states:

  • New York
  • Connecticut
  • Maryland
  • Virginia
  • District of Columbia
  • California
  • Nevada
  • Illinois
  • New Jersey
  • Florida

Different accounts will have different perks and features, including monthly fees (i.e., maintenance fees) that can be waived by maintaining the required minimum balance or making qualifying deposits and payments.

You can also look forward to features that include easy access to funds, FDIC insured accounts, and a number of others.

Citibank $100-$3,500 Savings Bonus

This offer is valid 06/11/2020 – 09/30/2020

Opening a new Citibank Savings account can see you earn as much as $3,500 in bonus money. You’ll need to meet some requirements to be eligible for this bonus, which we will be looking into in a short while.

Requirements:

  1. Open an Eligible Citi Savings Account under the same package as the Eligible Checking Account
  2. Enroll in the offer as your opening the saving account
  3. Make a minimum deposit of $25,000 within 30 consecutive calendar days of opening the account

The bonus amount you’ll get depends on the amount of money you deposit in step 3 of the procedure described above. The more money you deposit, the larger the bonus will be.

To find out exactly how much you’ll make, refer to the below threshold list of all deposit amounts together with the bonus amount that you will get in return:

Bonus Thresholds:

  • Between $25,000 and $49,999: $100
  • Between $50,000 and $99,999: $200
  • Between $100,000 and $249,999: $400
  • Between $250,000 and $499,999: $1,000
  • Between $500,000 and $999,999: $1,750
  • $1,000,000 and over: $3,500

Availability:

This offer is only available in these states:

  • New York
  • Connecticut
  • Maryland
  • Virginia
  • District of Columbia
  • California
  • Nevada
  • New Jersey
  • Florida (select markets)
  • Illinois (select markets)

Depending on the type of account you open, a monthly service fee may be charged. This ranges from $25 to $30 and can be waived by maintaining the required average monthly balance. A soft pull credit check may be required by the bank, but it won’t affect your credit score.

All accounts are FDIC insured up to the legal limit and come with a number of features and different perks that change from one type of account to another.

Citibank 10,000 to 50,000 AAdvantage Miles

You can get as many as 50,000 AAdvantage Miles when opening a Citi Miles Ahead Saving Account. This offer is open to qualified customers with the number of miles awarded being directly linked to the deposit amount.

Requirements:

  1. Open a Citi Miles Ahead Savings Account
  2. Make a qualifying deposit

Qualifying deposits start at $10,000 with higher amounts enjoying more miles and higher APYs.

Bonus Miles per Deposit Amount:

Refer to the list below to learn how many miles you can get according to the size of your deposit:

  • Deposit between $10,000 and $49,999: 20,000 AAdvantage Miles and 1.01% APY
  • Deposit between $50,000 and $199,999: 40,000 AAdvantage Miles and 1.25% APY
  • Deposit $200,000 or more: 50,000 AAdvantage Miles and 1.55% APY

This offer is available across the nation, and you can expect to receive the bonus within 60 days of meeting the set requirements. Like all other offers tied to the opening of a new account, a soft pull credit check may be requested by the bank.

Features:

  • No monthly fee
  • Fee-free ATM withdrawals
  • An exclusive mobile application
  • Online banking
  • Alerts for payments and balances

Learn More:

Citibank Credit Card Promotions

Citibank offers a number of different credit cards with different bonuses and promotions. In the next section, we will take a look at the credit cards on offer and any bonuses and promotions tied to them.

Citi® / AAdvantage® Executive World Elite™ Mastercard®

  • Get 50,000 American Airlines AAdvantage bonus miles when spending $5,000 within three months of opening the account
  • Get 10,000 additional American Airlines AAdvantage bonus miles when spending $40,000 within a year
  • Earn twice the AAdvantage miles for every dollar spent on eligible American Airlines purchases
  • Free checked back for you and companions (up to 8) on domestic American Airlines flights
  • Admirals Club access
  • Annual fee of $450

Citi® Double Cash Card

  • Earn 1% cashback when you buy
  • Earn another 1% cashback when you pay
  • No annual fee

 

 

Citi® Diamond Preferred® Card

  • Free access to FICO score
  • Citi Entertainment with special access to purchase event tickets
  • $0 Unauthorized Purchases Liability
  • Citi Identity Theft Solutions
  • No annual fee

Citi Rewards+℠ Card

  • Get 15,000 points when spending $1,000 in the first three consecutive months of opening the account.
    • Points can be redeemed for gift cards worth $150 at thankyou.com
  • Get twice the ThankYou points for the first $6,000 spent at supermarkets and gas stations per year.
  • No annual fee

 

Costco Anywhere Visa® Card by Citi

  • Exclusive to Costco members
  • Get 4% cashback on the first $7,000 worth of eligible gas purchases each year
  • Get 3% cashback on restaurant and travel purchases
  • Get 2% cashback on Costco purchases
  • Get 1% cashback on other purchases
  • No annual fee
  • No Foreign transaction fees

Citi Simplicity Card

  • Introductory 0% APR for the first 18 months from account opening on purchases and balance transfers, 14.74% – 24.74% variable APR afterwards
  • Citi Quick Lock
  • $0 liability on unauthorized charges
  • No annual fee
  • No late fees
  • No penalty rates

CitiBusiness/AAdvantage Platinum Select Mastercard

  • Get 65,000 American Airlines AAdvantage bonus miles when spending $4,000 in purchases within four months of opening the account
  • Earn twice the AAdvantage miles for ever dollar spent on eligible purchases at American Airlines, Telecomms outlets, Cable and Satellite, Car rentals, and Gas stations.
  • Free checked bag on American Airlines domestic flights
  • 25% savings on inflight American Airlines Wi-Fi
  • Annual fee of $99 (free for the first year)

American Airlines AAdvantage MileUp Card

  • Get 10,000 American Airlines AAdvantage bonus miles and a $50 statement credit when making $300 in purchases within three months of opening the account
  • Earn double the AAdvantage miles for each dollar spent at groceries and eligible American Airlines purchases
  • Save 25% on American Airlines inflight food and beverage purchases

Citi / AAdvantage Platinum Select World Elite Mastercard

  • Get 50,000 American Airlines AAdvantage bonus miles when spending $2,500 within three months of opening the account
  • Earn twice the AAdvantage miles for every dollar spent on eligible gas stations, restaurants, and American Airlines purchases
  • Earn a $125 American Airlines Flight discount after spending $20,000 in a year and renewing your card
  • Preferred boarding and free checked bag on American Airlines flights
  • $99 annual fee (free for the first year)

About Citibank

Citibank is the retail banking arm of Citigroup and is considered the third-largest bank in the US with Bank of America and JPMorgan Chase holding the second and first position, respectively.

It’s also the world’s largest credit card issuer. The bank offers many types of accounts – from personal checking to money market, with free accounts as well as some that’ll have account fees.

How To Get Better APY Rates With Citibank

Citibank offers a number of different accounts with advantageous APY. APY is essentially interest rates but with taking into account compounding interest.

High Yield Checking Account

The Citibank High Yield Checking Account offers an APY rate of 0.60%. It is available in 41 states and has a balance requirement of $25,000 or more.

Requirements:

  • Open a High-Yield Checking account through the Citi Elevate Package
  • Meet the $25,000 deposit requirement

This account has a monthly service fee of $15. It can be waived by maintaining a balance of $5,000 or more. You also get access to online banking as well as the Citi Mobile App.

Accelerate Savings Account

The Accelerate Savings Account offers an APY rate of 1.10%, which is considerably higher than what you would find at other banks. It is available in 41 states, with some cities specifically excluded from this offer.

Requirements:

  • Open an Accelerate Savings Account
  • Fund the account

There are no minimum balances, and the $4.50 monthly fee can be waived by maintaining a balance of $500 or more.

Learn More:

Are Citibank Bonuses Best For You?

Citibank is not the only bank with ongoing bonuses and promotions. Others, such as Chase Bank and HSBC bank, all have their own promotions.

Having said that, Citibank’s promotions and rates are some of the best on the market, making them worth your consideration.

If you’re a non-Citi customer, these promotions can present the perfect opportunity to make the switch. Before you do, make sure you compare everything else, including what your current bank is offering you. You might even want to use the promotion on offer to negotiate even better rates!

Before planning on taking any of the promotions on offer, it is important to spend some time reading the fine print. This will help you make sure you are familiar with all of the rules and requirements.

In most cases, this will include maintaining an average monthly balance to receive the cash bonus, but there may be others you need to be equally aware of. This will help you take advantage of what is on offer and grow your savings.

Additional Disclosures: Millennial Money has partnered with CardRatings and creditcards.com for our coverage of credit card products. Millennial Money, CardRatings and creditcards.com may receive a commission from card issuers. This site does not include all financial companies or financial offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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