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Citi Priority Account
- Our Rating 4.5/5 Read the review
Up to $2,000Expires April 4, 2023
Open a Citi Priority Account by 4/4/23 (Offer Dates 1/10/23 - 4/4/23) and earn a cash bonus of $200, $500, $1,000, $1,500, or $2,000 when you maintain a minimum eligible balance and complete required activities.
Featuring a strong signup bonus and a suite of VIP benefits like preferred pricing and higher limits on ATM withdrawals, the Citi Priority Account, from our partner Citi, is an excellent account for individuals with a high net worth.
VIP Benefits for High-Net-Worth Customers
Currently, you can earn up to $2,000 in cash bonuses when you sign up for a new Citi Priority Checking Account, from our partner Citi, and deposit at least $10,000. 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 take advantage of a big cash bonus.
If you’re thinking about opening a new account, here’s what you need to know about some of its most valuable banking products.
- Strong signup bonus
- Option to waive monthly fee
- Preferred banking and travel benefits
- Monthly service fee for low balances
- Steep requirements for bonus eligibility
Citi Priority Checking Account Bonus
In the past, this financial institution has offered some valuable bank account bonuses, and the current Citi checking promotion is no exception. Keep in mind, only new-to-Citi customers are eligible for this offer.
If you open a new eligible checking account by April 4, 2023 and make a qualifying minimum deposit, you could earn up to $2,000. The size of your cash bonus will depend on the opening minimum deposit.
Citi Priority Account Bonus Tiers
Deposit: $10,000 – $29,999
Bonus Cash: $200
Deposit: $30,000 – $74,999
Bonus Cash: $500
Deposit: $75,000 – $199,999
Bonus Cash: $1,000
Deposit: $200,000 – $299,999
Bonus Cash: $1,500
Deposit: $300,000 or more
Bonus Cash: $2,000
How to Get Your Citi Priority Account Bonus
In addition to the account-opening deposit, new-to-Citi customers must also meet other qualifying criteria to be eligible for their cash bonus.
- Upon opening the account: Your opening deposit must be new-to-Citi funds, so you can’t just transfer money from another Citi or investment account.
- Within 20 calendar days: Fund your Citi Priority account with the minimum balance requirement for the bonus amounts of $200, $500, $1,000, $1,500 or $2,000. Your balance on your 20th day determines your maximum eligible cash bonus.
- For 60 consecutive days: From the 21st day after opening your account, maintain the minimum balance requirement.
- Bonus payment timing: The bonus is paid to your Checking Account within 30 calendar days of successful completion of all required activities.
- If you withdraw money within the first 60 days: You can still be eligible for a bonus, but you must keep a minimum balance of at least $10,000 to earn the $200 bonus; at least $30,000 to earn the $500 bonus; at least $75,000 to earn the $1,000 bonus; at least $200,000 to earn the $1,500 bonus and at least $300,000 to earn the Citi $2,000 bonus.
Citi Priority Checking Account Package Qualifications
You’ll also need a combined monthly average balance of at least $30,000 across eligible linked deposit, retirement and investment accounts to be able to open a Citi Priority Account Package.
About the Citi Priority Checking Account
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 both self directed and 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
This particular Citi checking account has a $30 service fee each month, but you can get that fee waived if you maintain a combined average monthly balance of at least $30,000 across all of your eligible deposit, retirement and investment accounts.
In contrast, many competing banks that charge monthly maintenance fees require you to maintain a certain balance in your checking account alone. So for those who want to earn a higher rate of return from interest-bearing and investment activities, it may be more prudent to take advantage of Citi’s high-yield savings and investment accounts.
Citi® Accelerate High-Yield Savings Account
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 Citi checking 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 a healthy APY that can compete with some of the top savings rates currently in the market. 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 interest-bearing accounts do.
And, as previously mentioned, not only can you use this interest-earning account to maximize your savings, but its balance will also 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 between your savings and checking accounts, which can help you grow your wealth 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 interest-earning 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 service fee each month, but if you’re opening it with a Priority Account Package, you’ll opt out of that monthly cost.
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.
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Other Citi Bank Accounts
If you’re considering opening a new account, 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 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 banking package has a monthly fee of $10, which you can get waived when you maintain an average combined balance of $1,500 each month 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, this is a checkless account — so purchases and bills will need to be paid with a debit or credit card.
Citi Basic Banking Package
This account offers unlimited check-writing privileges, and it also won’t charge you a Citi fee on non-Citi ATM withdrawals if the first-listed account owner is 62 years or older.
This basic banking package charges a $12 monthly service fee. 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 the fee 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 package 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® Checking Account
- Our Rating 4/5 Read the review
Up to $2,000Expires April 4, 2023
Open a Citigold® Checking Account by 4/4/23 (Offer Dates 1/10/23 – 4/4/23) and earn a cash bonus when you maintain a minimum eligible balance and complete required activities.
The Citigold® Checking Account, from our partner Citi, offers members a lot of valuable perks. While the interest rates on it and other Citi checking accounts are low, you can get a solid one on the bank’s savings account.
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.
While this is largely a fee-free account, you will 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 the most exclusive Citi 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.
What Do I Need to Open a Citi Checking Account?
Whether you’re opening a new account online or in-branch, you’ll typically need the following information and documentation:
- Personal information, including an up-to-date phone number and mailing address
- Social Security number
- Verification of employment status and income (tax return, W-9 form or W-8BEN form)
- Valid ID (state ID, driver’s license or military ID)
Apply for the Citi Priority Checking Account Bonus
The Citi Priority Account bonus is one of the biggest bank account bonuses you can get. If you can meet the requirements to maximize the cash bonus, consider making the switch and start taking advantage of the benefits that Citi has to offer.
Ready to open a Citi Priority Account? Start here.
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 new checking account to maximize the return on your savings.
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Citi Bank Bonus FAQ
The types of accounts eligible for the Citi Elevate Accounts Package include interest checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), IRAs, Roth IRAs, and investments held in your linked Citigroup Global Markets Inc. accounts (CGMI) and annuity positions shown on linked CGMI statements (except for tax-qualified annuities, which includes annuities that qualify under sections 401, 403, 408 and 457 of the Internal Revenue code).
Citi Personal Wealth Management is an investment and advisory service that provides portfolio management and financial planning to Citi’s banking clients. According to its website, Citi Personal Wealth Management offers a lineup of investing options and dedicated one-on-one support with a Citi Relationship Manager. Further, Citi says it provides clients with a Citi Personal Wealth Management Wealth Advisor who designs bespoke financial planning strategies to help households meet both long-term and short-term goals.
Citi sign-up bonuses for opening bank accounts are considered taxable income by the IRS, and the bank will issue you a Form 1099-INT for the year that you earned your bonus. Similarly, non-U.S. persons who received a Citi sign-up bonus will be issued a Form 1042-S. However, sign-up bonuses for rewards credit cards are not generally considered taxable income because cardholders are required to spend money to earn the promotion. Note: Slickdeals does not provide tax advice. This material has been prepared for informational purposes only. Always consult a tax professional.
Once you are approved for your Citi sign-up bonus, it will be deposited into your checking account within 90 days after successful completion of required activities.
To open a Citi checking account, you will need the following: legal name, date of birth, residential address, citizenship status, country of residence, country of citizenship, government-issued identification (such as a driver’s license or passport), social security number (or individual taxpayer identification number for nonresidents). Note that two forms of identification are needed for nonresidents who wish to open a Citi checking account.