Link

5.00% APY when you make two online bill payments each calendar month from your linked eligible checking account
No minimum balance required
Requires a checking account — Free EZ Checking available for new customers
Apply online or by phone

Note:To qualify for the higher rate, you must make at least two electronic bill payments through Citibank Online, Citi MobileSM or Citiphone Banking® from your linked checking account in a qualifying relationship package during the calendar month preceding the statement cycle date. If the bill payment requirement is not met, a lower rate (currently 4.50% APY) will be applied for that statement cycle.

Great Job Citi. You pay less interest than the competition and impose more restrictions. Where do I sign up ?

Thanks OP. Now to just make sure I pay 2 bills a month from my account.

Citibank seems to be doing some experimenting with their deposit accounts.

The e-savings requires a linked checking, and offers a relatively low 4.5%
The ultimate savings requires nothing, and offers 4.65%
The Ultimate Money Market requires a checking, and bill pay, offers 5%, and isn't available for existing customers.

Plus the "regular" savings and money markets, which are crap.

This is all very confusing.

markkundinger said:Citibank seems to be doing some experimenting with their deposit accounts.

The e-savings requires a linked checking, and offers a relatively low 4.5%
The ultimate savings requires nothing, and offers 4.65%
The Ultimate Money Market requires a checking, and bill pay, offers 5%, and isn't available for existing customers.

Plus the "regular" savings and money markets, which are crap.

This is all very confusing.

One difference, at least as posted on Citibank.com, is that it explicitly states the e-savings account counts as a product for earning thank-you points while it does not explicitly state that the ultimate savings account does.

TB

True, an ultimate savings, by itself, won't earn any TY points. But I'm a high percentage sure that it would boost your TY point yield if you had a checking account.

ScootyPuffSr said:OP should change title to indicate it is only for new customers.

jfinlayson said Footnote *2:
"Offer is only available for first-time Citibank deposit (checking or savings product) account customers, and is valid only once for 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."


I like how jfinlayson left out a couple of lines from footnote 2 which i included verbatium. If you want a new free E-Z Checking account with no balance requirement and no direct deposit or bill pay requirement then you must be a new Citi customers but anyone can open the savings account even current customers look at footnote 2 and footnote 4 which clearly states this account can be linked to any exisiting Citibank Checking account.

Footnote 2 To qualify for Free Citibank® EZ Checking, you must apply online or by phone at 877-624-9600 for both a new regular checking and an Ultimate Money Account in the EZ Checking package by 12/31/07. Your relationship package will then be free of monthly maintenance fees and per-check fees. Charges for other account-related services may apply. All accounts are subject to approval. Regular checking accounts do not earn interest. Offer is only available for first-time Citibank deposit (checking or savings product) account customers, and is valid only once for 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.

Footnote 4 You must apply online or by phone at 877-624-9600 to open a Citibank® Ultimate Money Account and link it to a checking account you have or open in one of the following qualifying relationship packages: Citibank® EZ Checking, Citibank Account, Citibank Everything Counts®, or Citigold® Account relationship package. Your Citibank® Ultimate Money Account must also appear on the same statement as your checking account. Regular Checking accounts do not earn interest. Fees may apply to the checking account.

I not sure how much clearier footnote 4 needs to be but I called up and confirmed anyone with existing Citibank checking account can open this account.

I confirmed with CS if you send your self 2 bill payments for a min of $5 each or make any 2 bill payments for min of $5 each that will count and you will earn 5% on this account. Any existing Citibank customer can open this account except if they add this account then there checking account will still be subject to whatever requirement it was before you opened this account. You would not qualify for the free no requirement E-Z Checking account promo as this promo is only for new customers.

timothy86 said:Thanks Dolmar, just opened one.

Now I have an e-savings, ultimate savings and ultimate money!

Whatever one is highest I use and the rest sit at $1.

I don't know why Citibank is confusing everyone with their savings accounts.
Agreed. But I won't complain about having an account at 5% again.

I already make 2 $10 bill payments a month to my Fidelity 1.5% and my Merrill+ cards, as I know I will have the spending there, for the TY points, so the bill-payment requirement means nothing to me.

timothy86 said:I'm waiting for another 5.5% CD from Citi.

Why bother? Just buy a 28 day ARS from Citibank broker inside the bank currently they are paying between 5.29-5.34% which is an APY of 5.42-5.48% just require as little as $25K and thoses balances count towards the balance requirements of your banks accounts too.