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HomeBankingCiti Bank Bonus: Earn $1,500 for Opening a Checking Account

Citi Bank Bonus: Earn $1,500 for Opening a Checking Account

Get up to $1,500 in cash for switching your banking to Citi.

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Currently, you can earn up to $1,500 in cash bonuses when you open a Citi Priority Checking Account, from our partner Citi, and deposit at least $15,000. This bonus can go even further if you open a Citi® Accelerate High-Yield Savings Account as well.

Citi often offers bank account bonuses and other benefits to incentivize new customers to open an account, and if you have a high net worth, you could cash in on a big one.

If you’re thinking about switching to Citi, here’s what you need to know about some of its most valuable accounts. 

In this article:

Citi Priority Checking Account Bonus

Offer Details

Secure application on issuer’s website.

Citi Priority Checking Account

Monthly Fees: $30 with options to waive
Minimum Opening Balance: None
Features:
Earn a cash bonus up to $1,500 with required activities
Higher limits on debit card purchases and ATM withdrawals

In the past, Citi has offered some incredible bank account bonuses, and the current offer for new Citi Priority Checking Account holders fits the bill.

If you open an account by Jan. 4, 2022, you could earn up to $1,500. Here’s how the bonus tiers break down:

  • Earn $300 when you deposit between $15,000 and $49,999.
  • Earn $700 when you deposit between $50,000 and $199,999.
  • Earn $1,500 when you deposit $200,000 or more.

You’ll need to fund your account within 20 days, with the balance on your 20th day from account opening being used to determine your maximum bonus amount. You’ll then need to maintain that balance for an additional 60 days from the 21st day after you open the account. If you need to withdraw money, you can still be eligible for a bonus, but you must keep at least $15,000 to earn the lowest bonus tier.

Note that you’ll also need a combined average monthly balance of at least $50,000 across eligible linked deposit, retirement and investment accounts to be able to open a Citi Priority Account Package. However, the funds you deposit to earn this bonus must be new to Citi, so you can’t just transfer money from another Citi bank or investment account.

About the Citi Priority Checking Account

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The Citi Priority Checking Account offers a suite of benefits for high-net-worth customers. You can get preferred pricing on certain loan products, investment benefits and more. The account has a monthly fee, but it can be waived if you maintain a high enough balance.

Citi Priority Checking Account Benefits

Citi Priority Package Account holders will get several VIP benefits from the bank, including:

  • Preferred pricing: You’ll qualify for waived fees and discounts on select deposit products and services. You can also get relationship pricing on home loan products, including home equity loans and lines of credit. Finally, when you travel, there are no Citi ATM fees on international withdrawals, and you’ll also pay no foreign exchange fees on your debit card.
  • Investment benefits: You’ll have access to on-demand financial guidance from Citi Priority Advisors, waived annual fees and commission-free online and mobile exchange-traded fund (ETF) trades through Citi Personal Wealth Management, and other valuable benefits.
  • Other banking perks: The account offers higher limits on ATM withdrawals and debit card purchases, as well as certain everyday banking fees waived. That includes overdraft protection transfer fees and charges for standard checkbook orders, incoming wire transfers, money orders and stop payments.

Citi Priority Checking Account Fees

The account has a $30 monthly service fee, but you can get that fee waived if you maintain a combined average monthly balance of at least $50,000 across all of your eligible Citi deposit, retirement and investment accounts. In contrast, many checking accounts that charge monthly fees require you to maintain a certain balance in your checking account. But if you want your money to work more for you, it’s better to take advantage of the bank’s high-yield savings and investment accounts.

Citi® Accelerate High-Yield Savings Account

Offer Details

Secure application on issuer’s website.

Citi® Accelerate High-Yield Savings Account

Monthly Fees: $4.50 with options to waive
Minimum Opening Balance: None
Features:
$1 minimum to earn APY
No limit to how much customers can earn
Member FDIC insured up to FDIC deposit limits

If you can qualify for the Citi Priority Account Package bonus, but you want to maximize the interest you earn on your deposits, consider pairing the premium bank account with a Citi® Accelerate High-Yield Savings Account.

Citi® Accelerate High-Yield Savings Account APY

With a Citi® Accelerate High-Yield Savings Account, you’ll get an APY of 0.50%, which can compete with some of the top savings account rates on the market currently. There’s no minimum balance you have to maintain to earn this rate, and it doesn’t phase out after you reach a certain threshold like some other high-yield savings accounts do.

And as previously mentioned, you can use the Citi® Accelerate High-Yield Savings Account to maximize your savings and have your balance count toward the Citi Priority Package Checking balance requirement.

Citi® Accelerate High-Yield Savings Account Features

Your Citi® Accelerate High-Yield Savings Account comes with an assortment of added benefits. Features include:

  • Auto Save: You can set up automatic transfers from your checking account to your savings account, which can help you grow your savings without having to manage your recurring transfers manually.
  • Overdraft protection: If you’re worried about overdrawing your checking account, you can set up automatic transfers from your high-yield savings account to keep your balance from staying in the negative. Normally, there’s a $10 fee for overdraft transfers, but the Priority Account Package waives that fee.
  • No minimum opening deposit: You’ll need to open the Citi Accelerate High-Yield Savings Account as part of a Citi banking package (which means you can’t open one without a checking account), but there’s no minimum opening deposit to get your account set up. 

Citi® Accelerate High-Yield Savings Account Monthly Fee

The account has a $4.50 monthly fee, but if you’re opening it with a Priority Account Package, that monthly fee will be waived. If you’re opening a high-yield savings account with one of several other Citi packages, you can get the fee waived if you maintain an average monthly balance of at least $500. 

Other Citi Bank Accounts

If you’re considering a switch to Citi but want to compare other options, here’s a quick summary of some of the other checking products beyond the Citi Priority Account Package.

Citi ElevateSM Account Package

This checking account doesn’t charge Citi fees on non-Citi ATM withdrawals plus reimbursed third-party ATM fees.

The account charges a $15 monthly service fee, but you can get it waived if you maintain an average monthly balance of $5,000 or more in your checking account.

Citi Access Account Package

Citi’s most affordable checking account has a monthly fee of $10, which you can get waived when you maintain an average combined monthly balance of $1,500 in eligible linked accounts or make at least one qualifying direct deposit or bill payment per statement period.

The account also doesn’t charge overdraft fees, which is becoming more common among online bank accounts. However, you won’t have access to paper checks on this account.

Citi Basic Banking Package

Unlike the Citi Access Account Package, this one offers unlimited check writing and also won’t charge you a Citi fee on non-Citi ATM withdrawals if the first-listed account owner is 62 years or older.

There is a $12 monthly service fee on the account. But you can get it waived if you maintain an average combined monthly balance of $1,500 in eligible linked accounts or make at least one qualifying direct deposit or bill payment per statement period. Alternatively, you can get it waived if the first-listed account owner is 62 years or older or it’s a joint account with a minor.

Citibank® Account Package

This account offers some more robust benefits than other standard Citi checking accounts. For starters, you’ll get Citi ATM fees waived on out-of-network withdrawals if you meet certain balance requirements.

The account has a $25 monthly fee attached, but you can get it waived if you maintain an average combined monthly balance of $10,000 or more across eligible linked deposit, retirement and investment accounts.

Citigold® Account Package

The next level of premium banking, the Citigold® Account Package requires that you maintain a minimum combined average monthly balance of $200,000 or more in eligible linked accounts. For that, you’ll get a lot of the same perks that you can get with the Citi Priority Account Package, plus:

  • Unlimited refunds of non-Citi ATM fees.
  • Exclusive travel services like Citigold Home Connect and access to the Citigold Lounge.
  • International travel services like World Wallet foreign currency delivery and access to emergency cash.
  • A dedicated team to help you with your banking needs, including a wealth relationship manager and wealth advisor.

There’s no monthly fee for this account, but you do need to maintain the $200,000 combined average monthly balance to keep your status.

Citigold Private Client

If you can maintain at least $1,000,000 in average combined monthly balances across eligible linked accounts, you can qualify for the Citigold Private Client Package. This is Citi’s most exclusive checking account, and it comes with a suite of premium benefits that go above and beyond the regular Citigold Account Package.

Like the other Citigold account, there’s no monthly service fee, but you will need to maintain the minimum balance to retain your status.

Apply for the Citi Priority Checking Account Bonus

The Citi Priority Account Package bonus is one of the biggest bank account bonuses you can get. If you can meet the requirements to maximize the bonus, consider making the switch and start taking advantage of the benefits that Citi has to offer. 

Make sure you read the fine print of the bonus before applying for an account so you don’t miss out on the money. Also, make sure to open a Citi® Accelerate High-Yield Savings Account alongside your checking account to maximize the return on your savings.

While we work hard on our research, we do not always provide a complete listing of all available offers from credit-card companies and banks. And because offers can change, we cannot guarantee that our information will always be up to date, so we encourage you to verify all the terms and conditions of any financial product before you apply.

Ben Luthi
Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.