Citi Priority Account Package 50,000 ThankYou Points In Branch Only

Offer at a glance

• Maximum bonus amount: 50,000 Citi ThankYou Points
• Availability: In branch [branch locator]
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: $30, avoidable
• Early account termination fee: None
• Household limit: None listed
• Expiration date: Unknown

The Offer

No direct link to offer

• Open a new eligible checking account in the Citi Priority Account Package in branch, enroll in this promotion and within 60 days complete the below requirements to receive 50,000 Citi ThankYou Points:
  • Deposit $50,000 and maintain that for 60 days
  • Spend $750 in purchases using your Citibank Banking card (may require a direct deposit instead of this)
• This account also lowers the annual fee on your Citi Prestige card by $100

The Fine Print

• Bonus miles will be credited within 90 calendar days of meeting all the requirements
• You must not currently have a consumer checking account with Citibank. If you were a signer on or owner of a Citibank consumer checking account within the last 60 days from the date you enroll in this promotion you’re not eligible
• Customers who do not have a valid W-9 or W-8BEN on file are not eligible. Ask your banker to confirm these documents are on file before enrolling
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The Citi Account Package has a monthly fee of $30, this is waived if you maintain a combined average monthly balance of $50,000 or more in eligible linked deposits, retirement and investment balances. There is no early account termination fee for this account.

Our Verdict

This does require $50,000 to be deposited for 60 days like the $500 offer or not.  It does require an average monthly balance of $50,000 to avoid the $30 monthly fee though. Because of that I don’t think it’s really worth considering.

As always with Citi checking bonuses it’s important to remember a few things:

• It’s never easy, you usually have to follow up on getting your bonus
• There is no guarantee you won’t receive a tax form and even if you don’t you should still self report
• If you do receive a tax form you never know how much they will value points at
• At minimum you’ll be paying $60 in monthly fees. I’d budget for more like $90-$120 (unless you deposit $50,000 and in that case you’re missing out on a lot of interest that you’d get with a high yield account)
• These points can’t be transferred to travel partners

You can also get 50,000 points for opening a Citi ThankYou Premier card at the same time.

Hat tip to reader @c4mer0n