![]() ![]() However, earning $500 of interest on $15,000 in 150 days is a less impressive 8% APY. If you moved the $15,000 to a 2% APY savings account after 60 days, you would earn $25 in interest each month but also have to pay a $25 monthly fee.Įarning $500 of interest on $15,000 in 60 days works out to the equivalent of about 20% APY. Meanwhile, you need to keep both Citibank accounts open and in good standing, which either requires a minimum monthly balance of $10,000 or a $25 monthly fee. However, there are a few noteworthy wrinkles! The main “catch” is that even though you “qualify” for the bonus after 60 days, you may have to wait another 90 days to actually get the bonus. The direct deposit requirement is easy because there is no minimum amount and you can simply initiate an ACH transfer from another bank:Ī “Qualifying Direct Deposit” is an Automated Clearing House (ACH) credit, which may include payroll, pension or government payments (such as Social Security) by your employer, or an outside agency. You open the accounts and deposit $15,000, which you can spread between checking and savings (be sure to maintain a non-zero amount in both). I like this bonus because it doesn’t require too much attention. Scroll down to “The Citibank Account package”.īonus net value calculations. You can view your state-specific fee schedule at /compareaccounts. ![]() A monthly service fee of $25 and a $2.50 non-Citibank ATM fee applies to the checking account in The Citibank Account Package if a combined average monthly balance of $10,000 or more is not maintained. You must maintain a combined average monthly balance of $10,000+ in eligible linked deposit, retirement and investment accounts. Here’s how to avoid monthly account fees. Therefore, always keep at least $5 in each account until you see the bonus.
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