Citizens Bank is offering a $600 bonus for opening up a checking and savings account. This is also one of the best bank bonuses that can be done over and over again. We recommend you do this whenever you become eligible.
Where do I enroll?
Ninja Update 10/3/2020: The $600 bonus has expired for now. There’s a $400 offer good until 11/26/20 if you don’t want to wait for a new $600 bonus promotion.
You can apply online directly through the link above. Citizens Bank also sends postal mail cards with an personalized offer code, but you don’t need it since it’s publicly available online.
It would be useful if they do decide to close down the public link. Here’s what the mailer looks like:
Who qualifies for the bonus?
You must live in one of the following states:
- Connecticut (CT)
- Delaware (DE)
- Massachusetts (MA)
- Michigan (MI)
- New Hampshire (NH)
- New Jersey (NJ)
- New York (NY)
- Ohio (OH)
- Pennsylvania (PA)
- Rhode Island (RI)
- Vermont (VT)
Along with residing in one of those states, you can’t be a current customer or had a Citizens Bank personal checking or savings account in the last 6 months.
- $600 Chase checking and savings account bonus
- $400 Wells Fargo checking account bonus
- What counts as a direct deposit for bank sign-up bonuses?
What are the details?
Availability: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, VT
Expiration: Offer has been extended through 10/01/20
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: Yes, $500 or more for checking account (see what counts as a direct deposit)
Early Account Termination Fee: None
You can either apply directly online, call, or come into the nearest branch:
$600 Bonus Breakdown
The $600 bonus is broken up as follows:
- Checking Account: Receive a bonus of $300 when you open a Citizens Bank One Deposit checking account or Citizens Bank Platinum checking account and make a direct deposit of $500 or more within 60 days of account opening
- Savings Account: Receive a bonus of $200 when you open a Citizens Bank One Deposit savings account or Citizens Bank Platinum Savings and deposit $15,000 or more and maintain a minimum balance of $15,000 for 3 months
- Extra Bonus: Receive an extra $100 bonus for completing both account bonuses
The bonus will be posted within 30 days of meeting the requirements. For example, someone opening a savings account and transferring $15,000 in April will meet that bonus requirement in July (3 months).
You can see in this instance, the bonus posted in August, which is 30 days after qualifying for it. On your bank statement, it shows up as a credit memo coded as ‘Balbldr Bonus‘:
The checking accounts have a monthly fee between $9.99 and $25 and the savings accounts have a monthly fee of $0 to $4.99, both can be waived if you do ONE of the following:
Citizens Bank One Deposit Checking Account:
- One deposit of ANY amount each monthly statement period
Citizens Bank Platinum Checking Account:
- Combined monthly balance across all Citizens Bank accounts (including investment accounts is $25,000 or more
Citizens Bank One Deposit Savings Account:
- One deposit of ANY amount each monthly statement period (account will automatically receive a fee waiver on the first 4 monthly maintenance fees)
Citizens Bank Platinum Savings Account:
- No fees, but this account is only available if you open the Platinum checking account
The Bottom Line
This is Citizen Bank’s highest offers. The mailer also requires 6 months from the last time you had an account with them, which is better than the usual 12 months.
If you’re opening it for the bank bonus only, the easiest checking and savings account to open would be the Citizen Bank’s One Deposit checking and One Deposit savings combination. Both of those two accounts are super easy to avoid fees.
I’ve done this for 3 years now, and between 4 family members, this is an easy $4,800 in free money every year!