Citizens Bank Bonus Updates
Update on November 25, 2022 – Bonus has now been extended till January 20, 2023.
Citizens Bank is offering up to $400 bonus for opening their One Deposit Checking or Student Checking or Citizens Quest Checking or Citizens Wealth Checking. To be eligible for full bonus, you need to open the checking account and setup a direct deposit of at least $500 within 30 days of account opening and make debit card transactions. The bonus is divided into two parts – direct deposit and debit card transaction. Setting up a direct deposit of $500 will give you $300 bonus whereas making a debit card transaction will give you a $2 bonus per transaction, up to a maximum of $100. The offer is valid online only.
Although Citizens Bank charges account fees of either $9.99 or $25 depending on the account type, it can be avoided by fulfilling minimum deposit requirement or qualifying activities.
Citizens Bank Checking Account Bonus Summary
Bonus – Up to $400
Account – One Deposit Checking, Student Checking, Citizens Quest Checking, Citizens Wealth Checking
Direct Deposit – Yes, at least $500 within 60 days
Availability – Select States (CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT)
Offer Expiry – January 20, 2022
Account Fees – $0 or $5 or $9.99 or $25 monthly (See below on how to avoid it)
Checking Bonus Requirements
- Open a new account using the link
- Get qualifying direct deposit of $500 within 60 days of account opening ($300 bonus)
- Make 50 debit card transactions within the 60 days of account opening ($2 bonus per transaction up to a maximum of $100)
Checking Account Fees | How to Avoid It?
- One Deposit Checking from Citizens – $9.99 monthly. To avoid it:
- Make a single deposit to the account. It does not have to be direct deposit.
- Evervalue Checking – $5. Monthly fee cannot be avoided.
- Student Checking – $0. To avoid it:
- Qualify as a Student under 25
- Citizens Quest Checking- $25 monthly. To avoid it:
- Make $5,000 in total deposit each statement period, OR
- Maintain a combined balance of $25,000 or more in deposits and investments
- Citizens Wealth Checking- $0 monthly. To avoid it:
- Maintain a combined balance of $200,000 or more in deposits and investments
Early Account Termination Fees
There is no mention of early termination fees. Bonus would be deposited within 120 days from the account opening day and account has to be in good standing.
The Fine Print
To Earn Bonus: To earn a $300 bonus, open your first new personal checking account between 10/06/2022 to 01/20/2023 and have at least one single direct deposit of $500 or more post to your new checking account within 60 days of account opening. To earn up to $100, get paid $2 per qualified debit transaction that post and clear your new checking account within 60 days of account opening.
Qualifications: Primary signer on the new checking account may not be or have been a signer on any Citizens personal checking account within the previous six months. The new account must be open with a balance greater than zero and in good standing through the payout date stated in the table below to qualify for this offer. Direct Deposit is recurring income electronically deposited into your Citizens checking account and may include salary, pension, and other regular income. Qualified debit card transactions include signature and PIN-based debit transactions in person directly at a merchant location or in app or online merchant sites. Qualified debit card transactions from all cards on the checking account count toward the bonus. Online Bill Payments, Zelle® transactions and ATM transactions do not qualify.
Eligibility: Customer must open their first new checking account via Citizens’ online account opening system accessed by clicking on one of the links on this page. Customer should print this screen for their records. Customer will only be paid a one-time bonus for this program. One debit card bonus per checking account. Offers may be withdrawn without notice and cannot be combined with any other checking offer. Offer eligibility is determined at Citizens’ sole discretion.
Payout: Bonus will be deposited to the new checking account by the date stated (end of 4th months from the account opening date) and will be labeled as “Balance Builder Bonus”. Bonus will be reported to the IRS for income tax purposes.
This is an excellent bonus as Citizens Bank is offering $300 for having a one direct deposit of $500. The extra $100 they offer when using debit card is a cherry on the top.