Update:This promotional offer has been extended to June 6, 2024. The promotion details, including the bonus amounts and requirements, remain the same.
Key Takeaways
- New Citizens Bank checking account customers can earn up to $400 in bonus money when they set up direct deposit and meet a threshold for debit card transactions.
- Direct deposit $500 within 60 days to earn a $300 bonus. Then earn $2 per debit card transaction within 60 days to earn up to $100.
- This bonus is available on five Citizens Bank checking accounts: One Deposit Checking, Quest Checking, EverValue Checking, Student Checking, and Private Client Checking.
- This is still a highly valuable promotion even if you don’t get the debit card transaction bonus: Earning $300 for a $500 deposit is a 60% return. With the debit card transactions, it’s an 80% return.
- This bonus offer expires on April 11, 2024.
Citizens Bank Checking Accounts - Up to $400: How To Get It
- Open a new eligible personal Citizens Bank checking account by April 11, 2024: This offer is available on five checking accounts: One Deposit Checking, Quest Checking, EverValue Checking, Student Checking, and Private Client Checking. These accounts have different fees and features, such as earning interest or access to financial advisors.
- Receive at least one single direct deposit of $500 or more within the first 60 days to earn $300: Unlike most other bonuses, where the requirement involves the total amount of your deposits, Citizens Bank requires a single deposit of at least $500.
- Earn $2 per debit card transaction, up to $100, within the first 60 days: Signature and PIN-based transactions (in-person, in-app, and online) are eligible and will count toward this bonus. Fund transfers through services like Zelle are not eligible.
- Wait and receive the bonus: Citizens Bank may take up to five months after the date of account opening to pay out this bonus. That’s longer than most bank bonus offers (many others that we track pay out bonus money within four or less months), but the high payout may be worth the wait.
Learn more about Citizens Bank bonuses, account requirements, and fees.
Are Citizens Bank Bonuses Worth It?
If you live in an eligible state where Citizens Bank operates, it could be worthwhile to pursue a bonus for one of the checking accounts above, especially if you often make debit card purchases.
Citizens Bank operates in Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington D.C. If you live outside of those states, you can’t bank with Citizens.
The $300 deposit bonus is relatively easy to get. Many other bank bonuses require thousands of dollars in deposits to earn that much or less, but Citizens only asks for $500. This 60% return is quite a bit better than most bonuses we track (the median ROI is about 15%), and the extra $100 you can get for debit card transactions makes it even better.
We track bank bonuses daily. Through our research, we’ve found the average bank bonus to be $300. We only write about bank bonuses that are at least as high as this average, and that are a 10% or better return on your deposit to ensure you are getting a good deal.
Another point in this offer’s favor: Citizens Bank offers the same bonus for a variety of account types, giving you some flexibility to get the checking account you need without sacrificing bonus value. With many other banks we track, premium accounts have higher bonuses and higher requirements, while simpler accounts (like student accounts) have lower bonuses and lower requirements.
Compare the rewards you’d typically get for credit card purchases before going after the transaction bonus—you’ll only get a $2 bonus for each transaction, no matter how large the transaction is.
How We Track Bank Account Bonuses
Every business day, Investopedia tracks 16 banks and the current, new, extended, and expired account bonuses they offer customers. Banks were chosen based on consumer interest. We update our picks for the best bank account bonuses, the best checking account bonuses, and the best savings account bonuses as needed, chosen based on bonus amounts, bonus requirements, and account features. We aim to provide you with news about checking and savings account bonus offers so you can take advantage of them as soon as possible.
