Replace 1/16/24: Prolonged to three/31

Replace 10/2/23: Prolonged to 12/31/2023

Replace 7/5/23: prolonged to 9/30/23

Replace 5/17/23: prolonged 6/30

Replace 11/1/22: Deal is again and legitimate till 12/31/22.

Replace 7/5/22: Prolonged till 09/30/2022. Deal is healthier on the upper tiers. Hat tip to Mawney

Replace 4/6/22: Prolonged till 06/30/2022

Replace 1/2/22: Prolonged till 03/31/2022.

Replace 1/4/2021: Deal is again and legitimate till 6/30/21. Hat tip to reader savingwizard

The Provide

Direct hyperlink to supply

• Citi is providing a bonus of as much as $3,500 if you open and enroll in a brand new Citi Private Wealth Administration account. The bonus you obtain will depend on the quantity of funds you fund the account with inside two months of account opening, the funds should stay there for 3 months after account opening and you could enroll in eDelivery of statements. The bonus tiers are as follows:
  • Fund $50,000 – $199,999 and get a $500 bonus
  • Fund $200,000 – $499,999 and get a $1,000 bonus
  • Fund $500,000 – $999,999 and get a $1,500 $2,000 bonus
  • Fund $1,000,000 – $1,999,999 and get a $2,500 $3,000 bonus
  • Fund 2,000,000+ and get a $3,500 $5,000 bonus

The Tremendous Print

• To qualify to earn a money bonus reward, accounts should be funded in money or securities and the account enrolled in e-delivery of statements inside 2 months of account opening and the stability of the account should be maintained by the top of the month proven within the chart beneath. For instance, an account opened in October should fund their account and enroll in e-delivery of statements between 10/1/20 and 12/31/20, then should preserve funds till 1/31/21.
• Provide legitimate for shoppers who’re 18 years or older who fund a brand new particular person or joint Citi Private Wealth Administration account between October 1, 2020 and December 31, 2020. Account and asset eligibility necessities are defined beneath. Citi Private Wealth Administration reserves the proper to alter or cancel this provide at any time.
• Money or securities should come from an exterior, non-Citi, supply by a typical switch technique (e.g., a typical Switch of Belongings type, examine, digital funds switch, ADM deposit). “New-to-Citi Funds” are 1) funds deposited from exterior accounts or payees apart from Citibank, N.A. and a pair of) should be deposited utilizing home ACH switch, Direct Deposit, checks drawn on banks apart from Citibank, N.A., wire switch, trustee to trustee switch, or ACAT securities transfers.. Money deposits, Citi International Transfers, worldwide ACH transfers, and person-to-person switch providers resembling Apple Pay, PayPal^®, Venmo, and Zelle^®, don’t qualify as New-to-Citi Funds. New-To-Citi funds could also be deposited right into a Citibank retail account and transferred to the brand new CPWM account through the account funding interval outlined within the chart beneath. Nevertheless, transfers of present funds from a Citibank retail account aren’t thought-about New-To-Citi funds for the aim of this promotion.
• To qualify to earn a money bonus reward, accounts should be funded in money or securities and the account enrolled in e-delivery of statements inside 2 months of account opening and the stability of the account should be maintained by the top of the month proven within the chart beneath. For instance, an account opened in July should fund their account and enroll in e-delivery of statements between 7/1/20 and 9/30/20, then should preserve funds till 10/31/20.
• The full funding for functions of figuring out the bonus degree funding thought-about for the promotion is outlined as the whole quantity of eligible money or securities acquired within the account minus withdrawals and transfers of securities out of the account as of the deadline to fund the account based mostly on the month of account opening. Distributions, curiosity, and dividends from investments won’t be counted. Market fluctuation won’t influence eligibility for a specific bonus degree.
• The quantity of the money bonus reward relies on the funding acquired through the promotional interval. The money bonus can be credited to the Citi Private Wealth Administration account for patrons who have been enrolled within the promotion and have met the qualifying necessities acknowledged within the provide based mostly on the date the account was opened.
• Restrict one bonus per buyer. If a number of accounts are opened or funded by a buyer, the provide will apply to the eligible account with the very best stability. A number of account balances within the title of the identical useful proprietor won’t be aggregated for functions of this provide, besides if one account is a non-managed brokerage account and the opposite account is a managed account, through which case the eligible funding from these two accounts could also be aggregated for bonus qualification functions. Any further accounts opened through the promotional interval won’t be eligible for bonus eligibility. Citi Wealth Builder accounts are excluded from eligibility for this bonus. This provide can’t be mixed with another provide. All necessities of the provide, together with the dates within the above chart, pertain to each the eligible managed account and brokerage account.
• For functions of this provide solely, the first proprietor of a joint account can be thought-about the client. All accounts are topic to approval and relevant phrases and charges. Account should be open and in good standing on the time the bonus is credited to obtain the bonus.
• The promotion is just out there for sure account varieties, together with particular person and joint accounts. Accounts not eligible for this promotion embody however aren’t restricted to company and different enterprise/entity accounts, belief accounts (besides Dwelling Revocable Trusts and Household Revocable Trusts that are eligible), retirement plan accounts apart from IRAs and SEPs (e.g., 401(ok), cash buy pension plan, revenue sharing plan, and different ERISA plan account), property accounts, UGMA/UTMA accounts, 529 school financial savings plan accounts, robo-advisory accounts beneath the Citi Wealth Builder Program, and insurance coverage merchandise (together with annuities). For questions on eligibility, please converse to a Citi Private Wealth Administration consultant.

Our Verdict

This seems to be to be brokerage bonus because the money/securities solely should be within the account for roughly a month (e.g fund on the finish of the second month and hold the funds in there for a month after that). Realizing Citi there could be a gotcha that I’m lacking right here.

Based on the feedback this works for self directed accounts, however the arrange course of is extraordinarily gradual resulting from all of it being handbook.

Hat tip to reader EW

Publish historical past:

• Replace 10/11/20: Deal is again till 12/31/20.