Following up on my article on the superior savings rate you can get at online banks versus your traditional local bank, I have found a great banking deal. Citibank has a promotion to lure new customers by offering a $100 if you open a Citibank Direct Ultimate Savings Account. That’s $100 cash. Here are the details.
$100 offer is only available for first-time Citibank deposit account customers, and will be paid only once to any individual. Persons who currently have or at any time have had a deposit account at Citibank (or any of its predecessor banks) are not eligible. To receive this offer you must apply for and open a new Ultimate Savings Account by 5/31/2007. $100 will be credited to your Ultimate Savings Account within 90 days from the end of the statement period in which your account was opened. Accounts must be in good standing at the time of the $100 credit.
The rate on this account is currently 4.65%. Not quite as high as other online banks such as Emigrant Direct or HSBC Direct, but still very competitive. If you were to walk into a Citibank branch and opened the same account, you would get only a .7% interest rate. Citibank is one of the largest banks in the world, and your deposit is FDIC insured. Also, there is no minimum deposit required. You can open this account with $1. Truly a win win situation. Obviously, Citibank has a lot of money to spend to acquire new customers. However, the fine print reads “Offer may be modified or withdrawn at any time without notice and is not transferable”, so sign up soon to get your $100 before they pull the plug on this promotion.
By reading this blog, you could have just made $100 with this information. If you find such information useful, please subscribe by RSS Reader or email subscription.
UPDATE: This offer has expired. Please see info on current offer here.
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