This promotion supposedly expired 2/8/2008. Except we have 3 documented cases, my wife's included, that successfully applied with the MVS4 promotion code. My wife just applied today, 2/19, finishing at 4:45pm PST. The bonus amount and terms were verified.
Call 1-800-374-9500 to speak with a CSR -- I recommend that you ask to speak with someone in the USA if an offshore CSR takes the call -- and verify the promotion code. The CSR will transfer you to a "personal banker" who will process the application. If you wish to avoid a hard credit inquiry, don't accept overdraft protection, a line of credit, or any other product that would likely result in a hard credit inquiry.
The basics of the Citibank $200 Promotion for Opening a Checking Account:
* For people who have never had a Citibank checking or savings account. Some have reported getting the bonus with no currently open checking or savings accounts, but this is contrary to the terms of this promotion. You can see if Citibank has a record of a checking or savings account for you by calling 1-800-745-1534 M-F, 8am - 5pm Central Time, and selecting option 1. Although I'm a trustee on my son's savings account, they didn't hold that against me.
* Despite no mention of this being made when I applied, a CSR now (2/16) tells me that a Citi credit card was required for the promotion. Yet on 2/19, when my wife succesfully applied, that question wasn't even asked. (She has no Citibank credit cards.) Clearly, there are massive communication problems within Citibank.
* Promotion expires February 29, 2008. Actually, it expired 2/8. Actually, it might hot have expired. See above. 2/29 is the last date that the account can be funded.
* This promotion gives two $100 bonuses, each bonus earned after 3 months of direct deposit or at least 2 bills paid per month via Citi's bill pay.
* Bonuses are credited within 120 days of meeting each 3-month requirement.
[3 months for 1st $100 (earned). Plus 3 months for 2nd $100 (earned). Then another 4 months to credit 2nd $100. = 10 months.]
* Can be applied for by phone (call 1-866-810-9043 and refer to promotion code MVS4) or supposedly by visiting a Citibank financial center. I applied by phone, which only took around 15 minutes, but we experienced problems when my wife and I went to the branch to apply for her account. After a tortuous 45 minutes or so with a personal banker (he seemed to be on the phone constantly, asking questions about this promotion), a screen came up asking for a direct mail "invitation code" -- and the banker said it wasn't MVS4. We cancelled the application, and I've learned my lesson. She'll apply by phone. 
* There's been much discussion about whether or not EZ Checking qualifies for the bonus. The Bank Deals post referenced below says it doesn't. Yet, a number of CSRs have said that EZ Checking does qualify. My checking account was opened as an EZ Checking account, a CSR confirmed that this would qualify for the bonus, so I'm leaving my account as is.
* The account must be opened with a minimum of $100. Initial funding can be done over the phone by e-check as part of the application process, or you can bring the funds into a branch.
* The monthly fee for the checking account is waived if you meet the direct deposit or bill pay requirement.
* Citibank no longer does a hard pull -- at least for their checking accounts-- as long as you don't get overdraft protection. Overdraft protection generally involves a line of credit, which does result in a hard credit pull.
* My welcome packet has a "Promotional Disclosure" page that says MVS4.
Useful links:
Bank Deals post about this promotion
markber's post in the > $10,000 bank sign-up bonuses thread
Citibank Online - Sign On Page
Progress so far:
12/08 - Applied over the phone, was approved, and funded with $100 e-check. Was told that I could facilitate the account opening process in advance of receiving the Citibank welcome packet by completing a signature card at the branch, having them fill out the verification information on the card, and faxing it to Citibank.
12/15 - Made branch visit, got signature card completed, and made the mistake of having them guess at the correct fax number to which to send the card. It was wrong, and by the time it was finally corrected, on 12/20, I had already received two reminders to send in my signature card (with attached signature cards) and the welcome packet (with yet another signature card). Sigh.
Make sure your welcome packet has a "Promotional Disclosure" page. It should show your name, account number and "Promotion: MVS4".
12/16 - Received and activated debit card. Also received -- I'm not sure when -- the PIN. To change the PIN, an ATM or branch visit is necessary.
12/30 - Still awaiting completed signature card to be processed. E-check hasn't cleared my funding account yet, although the amount does show as my balance in the welcome packet from Citibank. I'm still blocked from on-line access until the signature card verification is complete. I'll call tomorrow (Monday) and attempt to light a fire under their fannies -- so to speak.
12/31 - Called and was told that it will take 24 - 48 hours to get the funds available from the e-check, that it would take 4 - 5 business days to activate (i.e. unblock) my account, but that I could call after two business days for the activation status. I'll call Wednesday afternoon or Thursday morning.
01/03 - Called and was told that they couldn't read my signature card completely that had been faxed from the branch. I completed the one from my welcome packet, faxed it myself, and called to make sure they received the fax. They said I could go into on-line banking and set it up, but it would take until the following day for the debit card funding transaction to post. I then set up on-line banking (you need both your debit card number and PIN), and requested links to my personal Citi credit cards. I also went into bill pay and set up a payee.
01/04 - The $100 funding amount now shows up and is available. The links to my cards also show.
01/19 - Checks received.
01/31 - Made the required 2 bill payments. Amusing note: If you pay AT&T in California, at least in the SF Bay Area, it might be under payee AT&T SBC, as opposed to AT&T RESIDENTIAL LONG DISTANCE.
02/19 - My wife applied over the phone with the MVS4 promotion code and was assured she'd get the bonus if she met the requirements.
06/25 - Received $200 bonus, after sending secure message noting that other people who applied around the same time I did were receiving their bonuses. I didn't mention a specific bonus amount, although it was the first $100 bonus. So I was surprised to see the full $200 as one bonus, where the second $100 should have been received no earier than August.
07/18 - My wife's account received the first $100 bonus. It was late because two sets of the required bill pays posted in the same month (but for different statement periods) and Citibank's automated system that apparently checks for giving out these bonuses apparently didn't take that into account.
08/28 - Received secure bank-mail, saying the second $100 for my wife was in process of getting posted to the account.
