Are you thinking about opening an account at Citizens Bank and wondering if there are any good promotions going on?
You are in luck – Citizens Bank is currently running a promotion that can put hundreds of dollars into your pocket if you open a pair of checking and savings account, get a direct deposit ($500+), and bring in $15,000 of new money to your account.
As far as promotions go, it's a pretty easy one with a low direct deposit requirement. The savings account bonus has a higher bar with its minimum balance requirement but it's still doable if you plan on making Citizens Bank your primary bank.
We'll discuss the deal, then mention locations and other bank information, and follow it up with how this offer compares with other major banks.
Here is another offer to consider, Capital One will give you up to $500 and there's no direct deposit requirement:
Here's how to get a new account bonus from Citizens Bank:
Get $600 from Citizens Bank [EXPIRED]
The active promotion with Citizens Bank was really juicy – get up to $600 when you open a Citizens Bank checking and savings account online. It's ended before the published expiration date but we're keeping the terms because it may return.
The terms of the deal are straightforward:
- Get $300 when you open a new One Deposit Checking account or a Citizens Bank Platinum Checking account and make a direct deposit of $500 or more within 60 days.
- Get $200 when you open a savings account with a minimum of $15,000 not currently on deposit with Citizens Bank and maintain that balance for 3 months.
- Get an additional $100 when you do both.
Both checking accounts have maintenance fees that you can avoid (more on that below).
(This offer expired)
One Deposit Checking Fee Structure
The One Deposit Checking Account has no minimum to open an account. There is also no minimum balance requirement ever. So you could open an account with $1 and never add another penny, you won't be penalized in any way.
There is, however, a monthly maintenance fee of $9.99 each statement period. You can avoid this by making one deposit of any amount each statement period. This deposit or transfer can be done through a branch, ATM, online or mobile banking, telephone banking, or through a direct deposit or wire transfer.
It's any deposit, it does not have to be a direct deposit. This is one of the few bank promotions where a direct deposit is not required.
Platinum Checking Fees Structure
The Citizens Bank Platinum Checking account also lets you open an account with any amount – there is no minimum initial deposit amount. There is a $25 monthly maintenance fee that is waived if you maintain a combined monthly balance of $25,000 or more. This includes deposit and investment accounts.
This account also pays a small percentage of interest, which is better than zero but not much better. If you're getting a Citizens Bank account because of the promotional offer, I would go with the One Deposit Checking account rather than the Platinum Checking.
Who is Citizens Bank?
There is more than one bank named “Citizens Bank.”
There are quite a few banks with the Citizens in their name. Quite a few are actually named Citizens Bank — such as a Citizens Bank with four locations in Missouri with the FDIC #14488.
Find a Citizens Bank Near You
Citizens Bank has locations in thirteen states including Connecticut, Delaware, Illinois, Indiana, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Vermont.
You can use their branch and ATM locator to find the closest location to you. This offer is available online so you don't really need to visit a branch to open it.
In fact, it's only available online.
Citizens Bank ABA Routing Numbers
Citizens Bank has several ABA routing numbers as a result of mergers and acquisitions, so finding your ABA number depends on where you opened your account. You can look it up on the list below:
How Does This Compare?
Citizens Bank is a sizable regional bank given all its locations and the bonus is a nice one. Being able to get $300 for a checking account with an easy $500 direct deposit requirement puts it as one of the better ones. Layer on the $200 (it's really $300 with the $100 bonus for both accounts) for a savings account with a $15,000 new-to-Citizens funds and you have yourself a decent bonus structure.
Wells Fargo offers $400 for a new checking account as long as you can receive a total of $4,000+ in qualifying direct deposits in the first 90 days. The direct deposit requirement isn't a monthly amount, you just need that amount over the qualifying period.
Chase offers $200 for opening a Chase Total Checking. With the checking account, you just need to set up a direct deposit of any amount. It's a smaller bonus amount but the requirements are slightly easier.
Finally, we have Huntington Bank, which is more of a regional bank, with a $150 to $200 bonus depending on if you open a Huntington Asterisk-Free Checking Account or a Huntington 5 Checking Account.
As you can see, the Citizens Bank offer is pretty good. If you only want a checking account, Wells Fargo will give you more cash but when it comes to the combination of the two, Citizens will be a higher dollar amount.