Are Checking Account Promotions Coming Back? Citizens Bank Offers Up to $225 for New Accounts

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In the market for a new checking account? Citizens Bank is offering a bonus of $125 for new customers to open a checking account, and an extra $100 for a money market or CD account - but you have to act before June 2, 2012.

The bank promotions are coming back! This week will highlight some of the special, limited-time offers available to consumers looking to make a switch on their checking accounts, starting with a great deal a Citizens Bank account.

The offer gives consumers an opportunity to earn up to $225 in bonuses. Realistically, most people would only qualify $125 of it, but $125 is no small amount in this economy. To qualify for the $125 bonus, you just have to open your first personal checking account before June 2, 2012, deposit at least $250, and make 20 qualifying transactions that post and clear your account by July 28, 2012. Qualifying transactions include any debit card purchases (in any dollar amount), electronic payments, and online bill payments. To get the deal, you have to download the offer coupon, available here, and bring it with you to your local branch when you open your account. In order to be eligible for this offer, the primary account holder cannot have been a primary or secondary account holder on any Citizens Bank account within the last six months.

This offer isn’t limited to any particular type of checking account, so you can choose from amongst Citizens Bank’s selections in order to find the one that best meets your needs. Of course, it can often be a hassle to switch accounts, but they try to ease the burden with Citizens Bank One Switch. With this free service, they’ll help you create the letters you need to switch your direct deposits, automatic payments and eventually close your old account. You just have to provide the names of the companies involved and One Switch will automatically generate customized letters for you to print out and mail. Alternatively, if you open a Gold Circle Checking Account (which requires a $20,000 monthly combined balance to avoid fee), they’ll contact your employer themselves for the direct deposit information, in addition to personally contacting all of your billers to move your automatic payments to your new account.

If you have another $10,000 to invest, you can earn an additional $100 by meeting the above requirements for the checking account and also opening a money market or CD account. The minimum investment in the second account is $10,000, and the deposit must also be made by June 2, 2012.

Some of bank specials, like this Citizens Bank offer, require you to act fast. However, before you switch banks you should be certain that the account is a good match for your banking practices, overall. While the initial offer may seem enticing, you want to make sure the account will also benefit you in the long run as well…otherwise, you may lose time, money, and your patience with a bad banking relationship.

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