Citibank Free Money Promotions
Citibank always has a bunch of good offers for opening a checking account with them and they're all structured very similarly. Basically there is a minimum funding amount (typically $1,500), a first tier requirement before you get one award, then a second tier requirement to get the second award. For the most part they're pretty good deals and I don't quite understand why they're (and credit cards) pushing so hard for bill payment, but these promotions are. This contains updated information to the March 10th post.
I've listed a few of their offers below and here's a guide to understanding the offers. In their $200 promotion (Offer Code: CD18), you must fund with a minimum of $1,500 and satisfy both tier requirements to receive those awards. The first tier requirement for the $200 offer is 2 bill payments for 3 months, for which you are awarded$100. The second tier requirement is 2 bill payments for 12 additional months and you will be awarded an additional $100. The total commitment period is 15 months (3 + 12 months). All promotions are available to first time Citibank checking/deposit account customers and you're required to have .
Min. Deposit: $1,500 in a Regular Checking Account
Tier 1 Req.: 2 Bill Payments for 3 Months, Receive $100
Tier 2 Req.: 2 Bill Payments for an additional 12 Months, Receive $100
Notes: Each Billpay has to be more than $20 each.
Min. Deposit: $1,500 in an EZ Checking Account
Tier 1 Req.: 2 Bill Payments within 1st Month, Receive iPod Shuffle 512MB (or equivalent) within 90 days.
Tier 2 Req.: Continute 2 Bill Payments for 12 Months total, Obligations for free iPod complete.
Thoughts: An EZ Checking account has a $1,500 minimum balance requirement otherwise they will charge you fees. If you're paying small bills (that won't be more than $1,000 over 12 months, then depositing the minimum of $2,500 will be enough. When I had an EZ Checking account, my balance did fall below $1,500 but my fees were waived for reasons I did not know (I didn't complain either!). Also, an iPod Shuffle retails at Amazon.com for only $99.99 so it might be worth it to do the $200 promotion and just buy your own Shuffle.
Min. Deposit: $1,500 in a Regular Checking Account
Tier 1 Req.: 2 Bill Payments within 60 days, Receive $100
Tier 2 Req.: None
My personal experience was with a $150 offer back in the day when all that was required was a $1,500 minimum balance, 2 bill pays in 60 days, and an account open for only 6 months. Do check the minimum balance requirements and the fee schedule if you try to open one... I had the EZ Checking so the minimum was $1,500. It's an easy way to earn extra money at no risk.
This post was originally published at Blueprint for Financial Prosperity. If you'd like to leave a comment, please do so here.
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