Are you missing out on up to $325 in free cash from your bank? See the simple steps to claim yours before July 7!
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Who doesn’t love a little extra cash in their pocket—especially when it’s as easy as opening a new bank account?
If you’ve been thinking about switching banks or just want to pad your savings, Citi Bank is rolling out a limited-time offer that could put up to $325 in your hands. But you’ll need to act fast—the deadline to qualify is July 7!
Let’s break down exactly how you can snag this bonus, what you need to know about it, and how this offer compares to other bank promotions out there.
Why Are Banks Giving Away Money?
You might be wondering, “Why would a bank just hand out hundreds of dollars?”
It’s simple: competition. Banks are eager to attract new customers, and offering cash incentives is one of the most effective ways to get your attention.
These bonuses are a win-win—banks get new clients, and you get a little financial boost for making the switch.
How to Get Up to $325 from Citi Bank: Step-by-Step
Ready to claim your bonus? Here’s what you need to do:
1. Open a Qualifying Citi Checking Account
- Visit Citi’s promotional webpage (make sure you’re on the official Citi site to avoid scams).
- Choose the eligible checking account that’s part of this offer. Not all Citi accounts qualify, so double-check the details.
2. Set Up Enhanced Direct Deposits
- Citi requires “enhanced direct deposits” to qualify for the bonus. This means you’ll need to have your paycheck, pension, Social Security, or other qualifying income directly deposited into your new account.
- According to Citi, a variety of deposit types count, so check their terms to see if your income source qualifies.
Also read: Looking for extra cash? These bank bonuses could put up to $400 in your pocket
3. Deposit at Least $3,000
- Within 90 days of opening your account, you must deposit a total of $3,000 or more. This can be done in one lump sum or through multiple deposits that add up to $3,000.
- The funds need to stay in your account for a certain period (usually 60 days, but check the fine print).
4. Meet the Deadline
- You must open your account by July 7, 2024, to be eligible for the bonus.
- Don’t wait until the last minute—give yourself time to set up direct deposits and move your funds.
Once you’ve met all the requirements, Citi will deposit your $325 bonus directly into your account. This usually happens within 30-90 days after you’ve completed the steps.
A Few Important Notes:
- This offer is typically for new Citi customers only. If you’ve had a Citi checking account in the past, you may not qualify.
- Always read the terms and conditions carefully. Some accounts may have monthly fees or minimum balance requirements, so make sure the account fits your needs.
How Does Citi’s Offer Stack Up?
Citi isn’t the only financial institution handing out cash incentives for opening an account.
Some banks are offering rewards in the thousands. But these high-dollar bonuses often come with steep requirements—typically demanding large account balances that many people may not be able to meet.
Also read: Could you claim up to $300 in automatic cash? Here’s how it works
Take Chase Bank, for instance: it offers up to $3,000 in bonuses for certain accounts, but to receive the full amount, you’ll need to deposit $500,000. This particular offer ends on July 16.
For those with more modest funds, there are still smaller rewards available.
Wells Fargo, for example, is running a promotion through May offering $2,500, though it requires a $250,000 deposit.
For most people, Citi’s $3,000 deposit requirement is much more manageable.
Other banks, like SoFi, are also offering one-time payments for new accounts, though the amounts and requirements vary.
Source: Run on the Bank / Youtube.
It pays to shop around and compare offers, but always consider the long-term costs and benefits of any new account—not just the upfront bonus.
Tips for Making the Most of Bank Bonuses
Read next: Looking for extra cash? These bank bonuses could put up to $400 in your pocket
Have you ever taken advantage of a bank bonus offer? Did you run into any surprises, or was it smooth sailing? Do you have tips for fellow GrayVine readers on making the most of these deals? We’d love to hear your stories and advice in the comments below!
If you’ve been thinking about switching banks or just want to pad your savings, Citi Bank is rolling out a limited-time offer that could put up to $325 in your hands. But you’ll need to act fast—the deadline to qualify is July 7!
Let’s break down exactly how you can snag this bonus, what you need to know about it, and how this offer compares to other bank promotions out there.
Why Are Banks Giving Away Money?
You might be wondering, “Why would a bank just hand out hundreds of dollars?”
It’s simple: competition. Banks are eager to attract new customers, and offering cash incentives is one of the most effective ways to get your attention.
These bonuses are a win-win—banks get new clients, and you get a little financial boost for making the switch.
Americans can receive up to $325 from Citi Bank by opening a new checking account as part of a limited-time offer. Image source: Nick Pampoukidis / Unsplash.
How to Get Up to $325 from Citi Bank: Step-by-Step
Ready to claim your bonus? Here’s what you need to do:
1. Open a Qualifying Citi Checking Account
- Visit Citi’s promotional webpage (make sure you’re on the official Citi site to avoid scams).
- Choose the eligible checking account that’s part of this offer. Not all Citi accounts qualify, so double-check the details.
2. Set Up Enhanced Direct Deposits
- Citi requires “enhanced direct deposits” to qualify for the bonus. This means you’ll need to have your paycheck, pension, Social Security, or other qualifying income directly deposited into your new account.
- According to Citi, a variety of deposit types count, so check their terms to see if your income source qualifies.
Also read: Looking for extra cash? These bank bonuses could put up to $400 in your pocket
3. Deposit at Least $3,000
- Within 90 days of opening your account, you must deposit a total of $3,000 or more. This can be done in one lump sum or through multiple deposits that add up to $3,000.
- The funds need to stay in your account for a certain period (usually 60 days, but check the fine print).
4. Meet the Deadline
- You must open your account by July 7, 2024, to be eligible for the bonus.
- Don’t wait until the last minute—give yourself time to set up direct deposits and move your funds.
Once you’ve met all the requirements, Citi will deposit your $325 bonus directly into your account. This usually happens within 30-90 days after you’ve completed the steps.
A Few Important Notes:
- This offer is typically for new Citi customers only. If you’ve had a Citi checking account in the past, you may not qualify.
- Always read the terms and conditions carefully. Some accounts may have monthly fees or minimum balance requirements, so make sure the account fits your needs.
How Does Citi’s Offer Stack Up?
Citi isn’t the only financial institution handing out cash incentives for opening an account.
Some banks are offering rewards in the thousands. But these high-dollar bonuses often come with steep requirements—typically demanding large account balances that many people may not be able to meet.
Also read: Could you claim up to $300 in automatic cash? Here’s how it works
Take Chase Bank, for instance: it offers up to $3,000 in bonuses for certain accounts, but to receive the full amount, you’ll need to deposit $500,000. This particular offer ends on July 16.
For those with more modest funds, there are still smaller rewards available.
Wells Fargo, for example, is running a promotion through May offering $2,500, though it requires a $250,000 deposit.
For most people, Citi’s $3,000 deposit requirement is much more manageable.
Other banks, like SoFi, are also offering one-time payments for new accounts, though the amounts and requirements vary.
Source: Run on the Bank / Youtube.
It pays to shop around and compare offers, but always consider the long-term costs and benefits of any new account—not just the upfront bonus.
Tips for Making the Most of Bank Bonuses
- Watch for Fees: Some accounts come with monthly maintenance fees. Make sure you know how to avoid them (often by maintaining a minimum balance or setting up direct deposit).
- Don’t Overextend: Only move money you can afford to keep in the account for the required period. Don’t tie up emergency funds just to chase a bonus.
- Keep Track of Deadlines: Mark your calendar for when you need to open the account, make deposits, and when you can expect your bonus.
- Read the Fine Print: Each offer has its own rules. If you’re unsure, call the bank’s customer service for clarification.
Read next: Looking for extra cash? These bank bonuses could put up to $400 in your pocket
Have you ever taken advantage of a bank bonus offer? Did you run into any surprises, or was it smooth sailing? Do you have tips for fellow GrayVine readers on making the most of these deals? We’d love to hear your stories and advice in the comments below!
