Citi Wealth Administration – Up To $5,000 Bonus


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 best 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 Supply

Direct hyperlink to supply

  • Citi is providing a bonus of as much as $3,500 while you open and enroll in a brand new Citi Private Wealth Administration account. The bonus you obtain depends upon 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 should 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 Wonderful 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 steadiness of the account should be maintained by means of 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 keep funds till 1/31/21.
  • Supply 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 suitable to alter or cancel this supply at any time.
  • Money or securities should come from an exterior, non-Citi, supply by means of a regular switch methodology (e.g., a regular Switch of Property kind, examine, digital funds switch, ADM deposit). “New-to-Citi Funds” are 1) funds deposited from exterior accounts or payees aside from Citibank, N.A. and a pair of) should be deposited utilizing home ACH switch, Direct Deposit, checks drawn on banks aside from Citibank, N.A., wire switch, trustee to trustee switch, or ACAT securities transfers.. Money deposits, Citi World Transfers, worldwide ACH transfers, and person-to-person switch providers akin to 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 in the course of the account funding interval outlined within the chart beneath. Nevertheless, transfers of present funds from a Citibank retail account usually are not 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 steadiness of the account should be maintained by means of 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 keep funds till 10/31/20.
  • The overall funding for functions of figuring out the bonus stage funding thought-about for the promotion is outlined as the overall quantity of eligible money or securities obtained within the account minus withdrawals and transfers of securities out of the account as of the deadline to fund the account primarily based on the month of account opening. Distributions, curiosity, and dividends from investments won’t be counted. Market fluctuation won’t impression eligibility for a specific bonus stage.
  • The quantity of the money bonus reward relies on the funding obtained in the course of the promotional interval. The money bonus shall be credited to the Citi Private Wealth Administration account for patrons who had been enrolled within the promotion and have met the qualifying necessities acknowledged within the supply primarily based 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 supply will apply to the eligible account with the very best steadiness. A number of account balances within the title of the identical useful proprietor won’t be aggregated for functions of this supply, besides if one account is a non-managed brokerage account and the opposite account is a managed account, during which case the eligible funding from these two accounts could also be aggregated for bonus qualification functions. Any extra accounts opened in the course of the promotional interval won’t be eligible for bonus eligibility. Citi Wealth Builder accounts are excluded from eligibility for this bonus. This supply can’t be mixed with some other supply. All necessities of the supply, together with the dates within the above chart, pertain to each the eligible managed account and brokerage account.
  • For functions of this supply solely, the first proprietor of a joint account shall be thought-about the shopper. All accounts are topic to approval and relevant phrases and costs. Account should be open and in good standing on the time the bonus is credited to obtain the bonus.
  • The promotion is just accessible for sure account varieties, together with particular person and joint accounts. Accounts not eligible for this promotion embody however usually are not restricted to company and different enterprise/entity accounts, belief accounts (besides Residing Revocable Trusts and Household Revocable Trusts that are eligible), retirement plan accounts aside from IRAs and SEPs (e.g., 401(okay), cash buy pension plan, revenue sharing plan, and different ERISA plan account), property accounts, UGMA/UTMA accounts, 529 faculty financial savings plan accounts, robo-advisory accounts underneath the Citi Wealth Builder Program, and insurance coverage merchandise (together with annuities). For questions on eligibility, please communicate to a Citi Private Wealth Administration consultant.

Our Verdict

This appears to be an excellent brokerage bonus because the money/securities solely have to 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). Figuring out Citi there may be a gotcha that I’m lacking right here.

In response to the feedback this works for self directed accounts, however the arrange course of is extraordinarily sluggish attributable to all of it being guide.

Hat tip to reader EW

Publish historical past:

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

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