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Citibank Free Money Promotions

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Citibank always has a bunch of good offers for opening a checking account with them and they’re all structured very similarly. Basically there is a minimum funding amount (typically $1,500), a first tier requirement before you get one award, then a second tier requirement to get the second award. For the most part they’re pretty good deals and I don’t quite understand why they’re (and credit cards) pushing so hard for bill payment, but these promotions are. This contains updated information to the March 10th post.



I’ve listed a few of their offers below and here’s a guide to understanding the offers. In their $200 promotion (Offer Code: CD18), you must fund with a minimum of $1,500 and satisfy both tier requirements to receive those awards. The first tier requirement for the $200 offer is 2 bill payments for 3 months, for which you are awarded$100. The second tier requirement is 2 bill payments for 12 additional months and you will be awarded an additional $100. The total commitment period is 15 months (3 + 12 months). All promotions are available to first time Citibank checking/deposit account customers and you’re required to have .

  • $200 Promotion: Offer CK57
    Min. Deposit: $1,500 in a Regular Checking Account
    Tier 1 Req.: 2 Bill Payments for 3 Months, Receive $100
    Tier 2 Req.: 2 Bill Payments for an additional 12 Months, Receive $100
    Notes: Each Billpay has to be more than $20 each.
  • iPod Shuffle Promotion: Offer CK59
    Min. Deposit: $1,500 in an EZ Checking Account
    Tier 1 Req.: 2 Bill Payments within 1st Month, Receive iPod Shuffle 512MB (or equivalent) within 90 days.
    Tier 2 Req.: Continute 2 Bill Payments for 12 Months total, Obligations for free iPod complete.
    Thoughts: An EZ Checking account has a $1,500 minimum balance requirement otherwise they will charge you fees. If you’re paying small bills (that won’t be more than $1,000 over 12 months, then depositing the minimum of $2,500 will be enough. When I had an EZ Checking account, my balance did fall below $1,500 but my fees were waived for reasons I did not know (I didn’t complain either!). Also, an iPod Shuffle retails at Amazon.com for only $99.99 so it might be worth it to do the $200 promotion and just buy your own Shuffle.
  • $100 Promotion: Offer CC2Z
    Min. Deposit: $1,500 in a Regular Checking Account
    Tier 1 Req.: 2 Bill Payments within 60 days, Receive $100
    Tier 2 Req.: None
  • My personal experience was with a $150 offer back in the day when all that was required was a $1,500 minimum balance, 2 bill pays in 60 days, and an account open for only 6 months. Do check the minimum balance requirements and the fee schedule if you try to open one… I had the EZ Checking so the minimum was $1,500. It’s an easy way to earn extra money at no risk.

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    One Response to “Citibank Free Money Promotions”

    1. Mr. Banker says:

      I work in the industry.

      The reason they want bill pay is for a couple reasons.

      1: Often times they have a contract deal and make money off of each use. They’re hoping to hook you on it.

      2: Checking accounts originally start off the bank with a loss (banker that opens the account gets paid, any free items offered, specials). Only after consistent use by the customer will the account prove profitable; even more so if they use other services. Banks have found that when they crossale or give a customer multiple relationships they stay with the company longer.

      This is kind of a bummer for the consumer/customer since no bank has the best products on every front. However, every bank tries to get them to use all their products. Have a horrible checking account (one that requires a minimum balance over 100…) so what? get them to open it. Have a mediocre investment affiliate? who cares. Sell it to them.

      In the end people need to realize that its a salesman before them, not their friendly banker they so believe. They may like them just fine, but they’re trained to sell and rarely competent enough to understand the financial consequences.


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