Citi Checking Bonus: Up to $1,500 Just for Opening an Account

If you've been thinking about opening a new checking account, now might be a good time. Citi is running a promotion that could put some serious cash in your pocket—up to $1,500, depending on how you play it. The offers have been extended through October 2026, so you've got some time to decide, but don't wait too long. Let me walk you through what's available and what you need to watch out for.

Two Paths to a Bonus

Citi is offering a few different ways to earn a bonus, so you can pick the one that fits your situation best. The first option is all about direct deposits. Open a new eligible checking account, set up at least two enhanced direct deposits within 90 days, and you'll get $325 if those deposits total $3,000 or more. If you can push it to $6,000 or more, the bonus jumps to $425. There's also a $475 tier that requires $5,000 in enhanced direct deposits—but that one might only be available in certain states.

The second option is for people who have a chunk of cash sitting around. Deposit at least $30,000 in new-to-Citi funds within 45 days, keep it there for another 45 days, and you'll get $500. If you can swing $200,000, the bonus is $1,500. That's a lot of money to park, but the return is pretty solid if you have the funds.

• $325 bonus: $3,000+ in enhanced direct deposits within 90 days
• $425 bonus: $6,000+ in enhanced direct deposits within 90 days
• $475 bonus: $5,000+ in enhanced direct deposits (limited states)
• $500 bonus: $30,000 new funds deposited within 45 days, held 45 more days
• $1,500 bonus: $200,000 new funds deposited within 45 days, held 45 more days

What Counts as an Enhanced Direct Deposit?

Citi has a specific definition for what qualifies. Basically, it's any electronic deposit through the ACH network—think payroll, pension, Social Security, or government benefits. They also include Zelle payments and other P2P transfers like Venmo or PayPal, as long as they go through ACH. But there are some things that don't count: teller deposits, cash, checks, wire transfers, transfers between Citi accounts, ATM deposits, mobile check deposits, and P2P payments made with a debit card. So if you're planning to use Venmo, make sure it's linked to your bank account, not your debit card.

Avoiding Fees and Other Fine Print

The monthly fee on these accounts is $12, but you can get it waived pretty easily. For the first few months, it's waived automatically—the month you open the account and the next three. After that, you just need to have at least $250 in enhanced direct deposits each month, and the fee goes away. There's no early account termination fee mentioned, which is nice if you decide to close the account after the bonus posts.

One thing to keep in mind: you can't have owned a Citi checking account in the last 365 days to qualify. Also, the bonus is considered taxable income, so you'll get a 1099-INT or 1099-MISC at tax time. Don't forget to factor that in when you're calculating your net gain.

• Monthly fee waived for first 4 months, then $250+ in direct deposits each month
• No early account termination fee
• Must not have had a Citi checking account in the past 365 days
• Bonus is taxable income

Stacking with a Savings Account for Extra Yield

If you're in certain states—New York, Connecticut, New Jersey, DC, Virginia, Maryland, California, or Nevada—you can make the large deposit bonus even sweeter. Open a Citi savings account within 10 days of the checking account, and you can get 3.7% APY for the first three months. That's a nice bonus on top of the checking bonus, especially if you're parking $200,000. Just make sure to time it right: open the savings account as close to the 45-day deadline as possible, but give yourself some buffer in case something goes wrong.

Referral Bonus and Other Perks

Citi also has a referral program. If you refer someone and they complete the requirements, you get $100. The person you refer gets the standard bonus—no extra, but no less either. So if you have friends or family who are already planning to open an account, it's a win-win.

And if you go for the $200,000 deposit, you might also qualify for Citigold benefits. Some people have been able to get those perks for three months without actually depositing the full amount, but that's not guaranteed. You'll need to activate your debit card and enroll through the Citigold subscription page.

Bottom Line

• Choose the bonus that fits your cash flow: direct deposit options are easier for most people.
• Watch out for the 365-day rule—if you've had a Citi checking account recently, you won't qualify.
• Consider stacking with the savings account for extra interest if you're in an eligible state.
• Remember the bonus is taxable, so set aside some of it for tax time.

Common Questions