Citibank Gives Away iPods to New Online Customers

Through a promotion that runs until Dec. 31, anyone who opens a Citibank EZ checking account, loads it up with $2,500 and pays two bills online will receive a blue or silver mini iPod. The catch: At least two online bill payments must be made each month to avoid being charged $249.95, the retail price of the popular MP3 player. According to Citibank, setting up recurring online payments, an option available at Citibank.com, makes it easy to fulfill the condition. My advice would be to take a car and a mortgage payment, set them up to go out each month, and dont worry about it, says Catherine Palmieri, managing director at Citibank.com. So far, thousands of consumers have taken advantage of the offer. The response rate is expected to continue to climb, says Palmieri, but dont fret: Apple has assured Citibank that itll supply as many iPods as needed. Unfortunately, the iPod wont arrive in time to find a place under the Christmas tree. Thats because the first ones wont be mailed out until late February, says Palmieri. Citibank EZ checking is free of monthly and per-check fees for those customers opting for direct deposit. Otherwise, the fee is $9.50 a month ($7.50 for the New York metropolitan area)for accounts that fall below the minimum balance requirement of $1,500. All online bill payments, including automatic payments, are free of charge. Existing Citibank clients or those whove taken advantage of past promotions dont qualify. Other banks are attempting to attract customers with holiday incentives. At Chase branches in New York, Connecticut, New Jersey and Texas, for example, Best Buy gift cards ranging from $20 to $200 are being doled out to anyone who opens a checking and savings account and adds online bill payment. The $20 gift card comes with $5,000 in total deposits, $50 with $25,000 in deposits, $100 with $50,000 and $200 with $100,000. New customers at all Chase branches are also enrolled in a Universal sweepstakes with the chance to win a vacation to Universal Orlando Resort each time a bill is paid at Chase.com now through Jan. 7, 2005.