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Citizens Bank $240 Checking Promotion
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If you were thinking about opening a checking account at Citizens Bank, they have a promotion where you can get $240. All you need to do is open a Green Checking, Circle Checking, or Circle Gold Checking account and make at least 5 qualifying online bill payments of $50 or more each month. Every month you do that, they’ll give you $40 and they’ll do that for six months.
It’s one of the trickier promotions out there, you’ll have to find five online bill payments, but it’s also one of the richest as each of the checking accounts have existing promotions. For example, if you go with paperless statements, you can get paid up to $120 a year for that. The “cheapest” account is the Green Checking, which waives the $4.99 monthly service charge if you make 5 qualifying bill payments each month or maintain an average balance of $1500.
Just open any one of our checking accounts below and we’ll pay you $40 a month for each month you make at least 5 qualifying online bill payment transactions of $50 or more. It’s good for up to 6 months — so you can get paid up to $240. Plus, bank with us and you’ll also enjoy free in-person consultations, 24/7 banking online, on the phone and on your mobile device, supermarket branches open 7 days a week, and great rewards. It’s what good banking is all about.
You can sign up for an account here. Promotion ends May 6, 2011.
For those who take advantage of this offer, you have Steve to thank! Thanks Steve!
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Note that the fine print says “Payments must be made to five different payees”. So you can’t just do five payments to the same place. But it at least doesn’t say anything about who the payees need to be (e.g., doesn’t restrict it to known utility companies) so you could probably pay 5 random people. I think it’s too much hassle for me though.
I chatted online w/a rep who was pretty helpful. He said that $50 bill payments to credit cards and mortgages would count towards the 5 qualifying bill payments/month. This should make it pretty easy to meet the requirement. The only thing I forgot to ask is if they do a hard pull on your credit report…Jim, do you know?
that would make the whole process easier, no doubt…if only they were not already my bank! blast!
I called customer service to find out a bit more and they were pretty honest about the features and restrictions of this promo. I live outside the area where they have branches, and the customer rep said it can be opened, but you might end up having to pay for a notary and some other transaction fees if you want to try and open this up without traveling a few thousand miles to a branch. Also they would send you a 1099 next tax season, and also, you cannot claim the $120 for paperless, as you can only do one promo at a time.
You can do both promos at same time with single account. I opened Greensense checking account with them and got I have been getting my monthly $40 balance builder (part of $240 promotion) and $10 greensense (part of $120/year promotion)evey month.