Citibank (NYSE: C) Offering up to $400 Bonus for New Account Holdings

Posted by on Aug 15th, 2010

Citibank (NYSE: C) is offering up to $400 for those that live in Los Angeles and open an account with the New York-based bank.

Anyone that opens a regular checking account with Citibank will be automatically eligible for a $200 bonus. Those that open a checking account with Citibank’s Account Package will earn the full $400.00. According to a report from Best Cash Cow, the limited time offer will expire on August 22nd. Citibank’s “ThankYou” Rewards program allows customers to claim rewards for regular banking activtiies as well.

There are limitations to the deal that Citibank is offering. To take advantage of the bonus, Customers must deposit $1,000 or more in the account within the first sixty days. Customers must also make at least one direct deposit into the account for two months. Customers must also make five or more debit card purchases or pay two electronic bills during the first two months.

For those outside living of the Los Angeles area, Citibank is still offering cash rewards for those that open an interest checking account with either the Citigold or Citibank account relationship packages. Citigold customers will receive $100 and regular account relationship package holders will receive $50.00. The deal also requires customers to deposit and maintain a minimum balance of $1,000 or more ofr at least thirty days.

Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services. As of December 31, 2009, Citigroup had approximately 200 million customer accounts and did business in more than 140 countries. Citigroup operates through two primary business segments: Citicorp, consisting of its Regional Consumer Banking (RCB) businesses and Institutional Clients Group (ICG), and Citi Holdings, consisting of its Brokerage and Asset Management (BAM), Local Consumer Lending (LCL), and Special Asset Pool (SAP). In April 2010, Barclays PLC acquired Italian credit card business of Citibank International Bank plc. In May 2010, the Company announced the creation of a new Collateral Management Services unit within its Securities and Fund Services business.

Shares of Citigroup, Inc (NYSE: C) traded up 0.26% on Friday ending at $3.88.