Citi has refreshed several account opening offers. You can now earn a $325 bonus via direct deposit, and up to $1,500 by depositing a qualifying amount of money. Citi Gold also comes with additional perks.

To earn the $325 bonus, you need to complete two Direct Deposits with a total of at least $3,000/$6,000. Citi has also made some changes to what counts as DD. In addition to payroll and government benefits previously sent via ACH, payments and benefit disbursements through Venmo, Zelle, and PayPal now count as well.

An Enhanced Direct Deposit (EDD) is an electronic deposit through the Automated Clearing House (“ACH”) Network of payroll, pension, Social Security, government benefits and other payments to your checking or savings account. An EDD also includes Zelle®incoming payments and other funds from person-to-person (P2P) payments when transferred through the ACH Network using providers such as Venmo or PayPal.

This account opening bonus is very solid, and I’ve added it to the best bank account bonuses list.

The deposit bonus is fairly straightforward. Right now, the Checking offer pays up to $1,500 based on deposits, and you only need to keep the funds there for 45 days. The effective APYs for the two tiers are 13.3% and 6%. The main advantage is the short 45-day holding period, which makes this a great quick in-and-out play. If you have $30,000 in liquid funds, this can be an excellent deal.

  • Deposit $30,000-$200,000 within 45 days to earn $500
  • Deposit $200,000+ to earn a $1,500 bonus

This deposit offer also has very good value, and I’ve added it to the high-yield account bonus rankings.

Today, reader YiYi visited a local Citi branch and learned about two nice Citi Gold offers.

  • Deposit $200,000 and get a $1,500 account opening bonus (this offer is also available online). If you open in branch, they may be able to set up some kind of combination with savings, then move the $200,000 into savings. For the first 3 months, you can get 4.25% APY, and only need to keep $100 in checking to maintain the account.
  • If you refer someone else to open Citi Gold, you can get a $200 referral bonus. There is also a $200 annual rebate that can be used toward Amazon and Costco memberships, but you need to pay with the Gold card.

Also, if you have Citi Gold, there is an annual fee discount when applying for Strata Elite. Stack these three benefits together, and if you have spare cash, going to a local Citi branch can be very worthwhile.

About Citibank

Most people are already familiar with Citi, and it has quite a few good credit cards. Citi’s banking products are also decent. If you have enough assets to qualify for Citi Gold, that may also help with credit card applications. Since these offers often involve large deposits and promotional requirements, you can open online first (the online offer terms are usually clearer, while in-branch bankers are sometimes less familiar), then go to a local branch to deposit the funds. Before opening, make sure you are eligible and keep copies of the account opening and offer documents.

Citi Checking Account

Account opening bonus

See the beginning of this article.

Account comparison

As for which account to choose, that depends on your needs and whether you want to avoid monthly fees. The entry-level basic checking account only requires you to maintain a daily balance of $1,500 to waive the fee.

Referral bonus

Citibank bank accounts also have a referral feature. The referrer can earn $100 for each new account. If you’re planning to open one, it may be worth asking friends or family first. Just make sure the referral offer is actually as good as the best public online offer.

Citi Saving Account

Right now, opening a Citi Saving account can earn a high interest rate.

Citi Self Invest investment account

Citi also has a decent investment account worth mentioning. There is no monthly fee, no minimum deposit requirement, and no trading commissions, so it’s a solid option.

You can earn a bonus based on how much you deposit, up to $500.

Application links