Free Sony DVD player with Citibank account ($1500 min deposit)

[Boomer2]

The offer is similar to this; but you get the DVD player.

Specifics:
(1) Open a Citibank Regular Checking account with at least $1500.
(2) Pay at least 2 bills online within 60 days.
(3) Get the player for free.

Amazon lists the player for $149.99; but I found it for $89.99 through Google.

 

[DaCurryman]

Pretty sweet. Does anyone know if you have to keep the money in the account for 60 days or not? Like can I open the account, pay 2 bills and then close the account and just wait for the DVD player. I already have a Citi Acct., but I'd be willing to take out $1500 to put into another acct temporarily for the free DVD player (would make a great gift for my girlfriend) and then once I pay 2 bills, I close the account and put the money back in my regular account.

 

[manuelku]

I think you can take out the money only after 60 days... 2 months it sounds fair.

 

[robsdeals]

Remember, they charge the value of the unit to you account like it was interest. So you have to pay tax on it at the end of the year. if it is a $300 retail value and your in a 30% tax bracket you'll $90 for it.

 

[jmcoreymv]

What if I dont have any "bills"? Could I pay myself to another bank account?

 

[Boomer2]

Originally posted by: jmcoreymv
What if I dont have any "bills"? Could I pay myself to another bank account?

I did the cash deal like this and sent my sister $5 for my nephew's birthday gift.

 

[DaCurryman]

Originally posted by: robsdeals
Remember, they charge the value of the unit to you account like it was interest. So you have to pay tax on it at the end of the year. if it is a $300 retail value and your in a 30% tax bracket you'll $90 for it.

I dont understand this, can someone please clarify.

 

[Richard98]

Originally posted by: DaCurryman

Originally posted by: robsdeals
Remember, they charge the value of the unit to you account like it was interest. So you have to pay tax on it at the end of the year. if it is a $300 retail value and your in a 30% tax bracket you'll $90 for it.

I dont understand this, can someone please clarify.

I wasn't aware of this either, but robsdeals is correct:

Text

Gift for opening account. If you receive noncash gifts or services for making deposits or for opening an account in a savings institution, you may have to report the value as interest.

Example. You open a savings account at your local bank and deposit $800. The account earns $20 interest. You also receive a $15 calculator. If no other interest is credited to your account during the year, the Form 1099-INT you receive will show $35 interest for the year. You must report $35 interest income on your tax return.

 

[papaschtroumpf]

Originally posted by: robsdeals
Remember, they charge the value of the unit to you account like it was interest. So you have to pay tax on it at the end of the year. if it is a $300 retail value and your in a 30% tax bracket you'll $90 for it.

If you're in the 30% tax bracket, then you're making enough money that you shoudln't complain about having to pay $90 for a DVD player. Also, you can show use the Amazon price to show that the real market value of the gift was $150, not $300, so you're now only paying $45.

 

[Pingping]

Also note that this account needs a minimum balance of $1500, otherwise there will be a monthly fee.
Checks are also quite expensive (about $1 each). Read the conditions carefully before you apply.

 

[Goosemaster]

Originally posted by: Pingping
Also note that this account needs a minimum balance of $1500, otherwise there will be a monthly fee.
Checks are also quite expensive (about $1 each). Read the conditions carefully before you apply.

$1 EACH!:Q