EDIT 4/1/02 $150 back from citibank for opening a checking acct

[GPz1100]

Got this as a promo ad when checking my credit card balances this morning. From what I can tell its NOT cookie related.

http://citi.bridgetrack.com/cbol/bankcard_onsite/150.htm

Apparently you need to open a regular checking acct with a min deposit of $2500, pay 2 bills within 60 days of opening said account,
at the end of that term they'll credit you $150 in the form of a interest payment (love all these terms!)

Here's the fine print

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?This offer is not available at Citibank Financial Centers. To receive this offer, you must open and fund a Regular checking account online with a minimum initial deposit of $2500 by 5/31/02 and then pay 2 bills online within 60 days of funding the account. $150 will be credited to your account within 60 days of the end of the statement period in which the second bill payment appears. Basic Checking is not eligible for this offer. All accounts are subject to approval. The $150 bonus payment will be reported as interest to you. Taxes, if any, are the responsibility of the customer. One offer per customer. Offer is not available to existing Citibank banking customers. Offer is made to U.S. residents 18 years of age or older only. Offer may be modified or withdrawn at any time without notice. Offer is not transferable.

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Seemed like a good deal to me if you have the $2500 to open the acct with, are in good credit standing, and have bills you can pay online (utility bill, phone bill?)

They dont specify what kind of bills can be paid, but I assume that will be explained in the info packet they mail me after processing the acct..

Enjoy

send flames to /dev/nul

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EDIT

Tanner (see 2nd page) has found some additional terms to this, such as an early closing fee.

https://web.da-us.citibank.com/cgi-...VCookie=yes&BS_Id=HD_ST_003&BS_Branding=Popup

Since its 90 days, i suppose close the acct on the 91st day?

Also some additional ways of making your money earn you more.

 

[Squisher]

That would be 24%(yearly) interest on your money if you pay the 2 bills in the first month, you would get the $150 at the end of the third month.

$150/$2500 over a 3 month period so times four=24%

Pretty good rate of return!




I wonder what the minimum balance for this account is? Maybe you wouldn't even need to tie up your money for the 3 months.

 

[leonc]

Similar to their previous deal where you opened the account with $1500,
paid two bills in 60 days and got a free Palm VIIx. I took advantage of that
one.

 

[GPz1100]

Squisher, from looking at the info for the account they want you to open with this, its $1500 min daily balance.

Still, deposit the $2500, pay your bills online, then after 3 months, get your $150, shut the acct down.

Just got off the phone with a CSR, according to him, there is NO min length of time the acct has to remain open.

 

[theCheetah]

Great Deal GPz1100. I was really waiting for a deal like this for sometime to open my bank account.

 

[RDMustang1]

<< Still, deposit the $2500, pay your bills online, then after 3 months, get your $150, shut the acct down.
>>



You people keep saying 3 months. How do you get 3 months? First off it has to be open 2 months (60 days) where you must pay 2 bills. Then it takes 60 days (2 more months) to get the refund. So the minimum you have to have it open is 4 months (or maybe 2?). 3 doesn't come into the picture at all

 

[Squisher]

$150 will be credited to your account within 60 days of the end of the statement period in which the second bill payment appears.

If you pay the two bill payments required in the first month you will get the interest payment at the end of the third month.




If there is a $1500 minimum then you would only be tying up the $2500 for a week or so, after which you could drop it down to $1500 by either paying bills or withdrawing your money.

With a $1500 minimum and tying up that last $1000 for a week, yearly interest starts to approach 40%

*w00t* One account for my wife and one for me, $300 easy pickens

 

[Fortinbras]

good deal!

you actually don't have to mark your calendar to close the account after you get that $150. because they keep reminding you about it with their horrible cust. service.
i got sucked in with their free palm offer, i had to call them so many times to get my atm card(you need atm card to sign up for bill pay, and so to pay bills), and again so many times to get that palm. it took close to 6 months to get my palm, and i closed the account the next day.






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citibank sucks too!!:|

 

[GPz1100]

Fort, I've never dealt with citibank's checking/savings dept, as their interest rates are pitiful. I go thru charter one for that (3.5% on checking until 7/2002 on energized checking). But i have had a citi platinum and click cards for a while (the first one for over 4 years).

I've never had any problems dealing with their CSR in the credit card dept. Had a late payment once, they waived the fee since my previous history showed no late payments. I believe I've had one or two charges disputed, usually resolved with no issues.

For click citi, I've made several claims on their equivalent of the amex BVG program. Again, no problems here either. received check within 2 weeks.

YMMV

If you are looking for better rates and keep at least 2500$, check out charterone's accounts.

 

[zemaus]

Excellent offer.........just signed up...

 

[JEDI]

hm..if u got in on the palm vii deal, are you eleigible for this deal? (the day i got my palm, i canceled the acct)

 

[PsYwhY]

sure hope so.
canceled my account too after gettin the palm more than 6 months since account opening date.

 

[CHINAFIFA]

Since the $150 will be credited to your account as earned interest, it will show on 1099 that we have to report to IRS. I don't know how much more tax we have to pay for this $150 extra interest. Maybe we need to pay $200 more to IRS.

 

[CHINAFIFA]

Did anybody get 1099 for year 2001 and see $150 listed on there? I'm about to sign up the Palm Promo and notice the deal expires tomorrow. Also, what do they mean by "Do you want Checking Plus®? ":|
quick comments appreciated!

 

[dentalboy]

sounds like a great deal, but high min to open and keeping this account for three months how does that work out, you pay a bill as soon as you open and fund the account ?

 

[GPz1100]

Whats a link for the palm pilot promo?
Thanks

 

[ra7]

Here is a link that expires 5/31/02

Palm

 

[CHINAFIFA]

<< Here is a link that expires 5/31/02

Palm >>



thanks a lot! now i can have some time to consult with a tax expert first

 

[manly]

I'd like to hear any comparisons to this deal at Union Bank:

http://www.uboc.com/UBOCPages/G7x410

 

[CHINAFIFA]

Great deal! Only need 100 dollars deposit.

 

[gametalent]

Nice

 

[JeffCutter]

Great deal. Too bad I already have a Citibank account.

In general, I think the quality and ease of use of their online billpayment system is pretty good. I pay all of my bills there now, and I think I have paid about 500 bills there since I opened up the account. Not a bad savings with stamps costing what they do today!

 

[luvya]

hey...so how do you guys go about filling out this form? Sorry, I am a newbie at banking, but I have enough money right now...so can anyone explain every item listed on the site for me? Things like checking plus, credit amount requested and AAdvantage credit card....I have absolutely no clue what these things are HELP ME!! PM me if possible

 

[DuckBlue]

just a thought about uboc: 100 to open, but $7 monthly fee unless you have 1000 balance

and on their terms and fees, it keeps saying cali is one rate, and oregon/washington is another rate... what about other states?

 

[Tanner]

CHINAFIFA
RE:

<< Since the $150 will be credited to your account as earned interest, it will show on 1099 that we have to report to IRS. I don't know how much more tax we have to pay for this $150 extra interest. Maybe we need to pay $200 more to IRS >>



This is called "capital gains tax" (did I spell that right??? who cares) Anyway, you are NOT taxed on your 1099's and any other interest unless you gain over $400 in one year. THAT is a VERY general rule. As soon as I post this...someone will ignore the fact that I said this ahhaha, ahh well

I also signed up for "student" checking @ Firstar (no min. balance, NO $$ to open, and they give you $50!!!) SUPER NICE dealio for students who need cash! I'll hopefully be doing this dealio t00!


HOWEVER, NOW is when I think it is my cue to say REEEEEEEEEEEEEEEPOSSSSSSSSSSSSSTTTTTTTTTTT!!!

I've wanted to do that for so long...and it actually be my own post hehehe...I hope that YOu guys can appreciate this thread that I started back in the day...apparently no one else did...and It got locked! P00P on THAT! But it details what I think you should do...(after having read the fine print aLL over Citi's website!)

Original post w/ details

God Bless!!!

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