Citi Regular Checking: This bank account underwent a recent name change and is currently offering a $300 bonus, which can be easily obtained.
Benefits
- $300 sign-up bonus available! Please see below for bonus requirements. Offer valid until: July 8, 2024.
- A monthly maintenance fee of $15 applies. Learn how to waive this fee below.
- No early termination fee. You have the freedom to close your account at any time, although we suggest converting it to the Citi Basic Banking package to bypass high monthly balance requirements.
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Bonus Requirements
This bonus is exclusively for new clients. Individuals with an existing Citi checking or savings account, or those who closed an account within the past 365 days, are ineligible for this offer. Possession of a Citi credit card does not exempt one from this offer.
To qualify, simply deposit at least two “Enhanced Direct Deposits (EDD)” directly into your new checking account within 90 calendar days of opening. Your combined Enhanced Direct Deposits must total $1,500 or more. Details on “EDD” will be provided in the following section, and meeting this requirement is straightforward.
What is Enhanced Direct Deposits (EDD)?
“Enhanced Direct Deposits (EDD)” is a term coined by Citi and distinguishes itself from Direct Deposit (DD). The official definition is as follows:
An EDD refers to an electronic deposit processed through the Automated Clearing House (ACH) Network, encompassing payroll, pension, social security, government benefits, and various other payments directed to your checking or savings account. Furthermore, an Enhanced Direct Deposit encompasses deposits made via Zelle® and other peer-to-peer (P2P) payment methods when executed through ACH using platforms such as Venmo or PayPal. Conversely, Teller deposits, cash deposits, check deposits, wire transfers, transfers between Citibank accounts, ATM transfers and deposits, mobile check deposits, and P2P payments made using a debit card do not meet the criteria for an Enhanced Direct Deposit.
Hence, the following methods contribute to meeting EDD criteria: Zelle, Venmo, PayPal, and standard ACH transfers. Consequently, fulfilling the requirement is quite straightforward.
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How to Avoid the Monthly Fee (Meet Any One of the Requirements Below)
A minimum of $250 in Enhanced Direct Deposits (EDD) per month is required.
Different Citi Checking Accounts
- Citigold Account Package
- Citi Priority Package
- Citi Regular Checking (this post)
- Citi Access Checking
Here is a comparison and contrast on the official website.
Summary
Obtaining the welcome offer is incredibly straightforward, making it well worth opening. Additionally, this account serves as a fundamental Citi checking account, presenting a viable option for downgrading if needed.
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