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Cashback Rewards Checking Frequently Asked Questions
Review our FAQs for quick answers and tips related to Citadel’s Cashback Rewards Checking Account.
Cashback Rewards Checking Frequently Asked Questions
What are the minimum requirements to earn Cashback Rewards on the Cashback Rewards Checking Account?
In order to earn Cashback Rewards, the Cashback Rewards Checking Account must maintain an average daily balance of $5,000 or receive qualifying direct deposits that total $1,000 or more each month. Cashback Rewards are earned on net purchases on a monthly basis, with a maximum of $10 in Cashback Rewards per month.
How do I earn cash back on the Cashback Rewards Checking Account?
When balance or direct deposit requirements are met, you will earn 1% cash back on net purchases that post to your account each statement cycle from Citadel debit and/or credit cards linked to your Citadel Cashback Rewards Checking Account. Cashback Rewards have a monthly cap of $10.
How do I redeem my Cashback Rewards?
Available Cashback Rewards can be redeemed through Online Banking or our Mobile App. You can also call or visit CitadelBanking.com to redeem your Cashback Rewards.
When you choose to redeem, the full balance of available cash back must be redeemed and will be instantly deposited into the Cashback Rewards Checking Account. Any Cashback Rewards not redeemed by the account anniversary date will automatically be deposited into your Citadel Cashback Rewards Checking Account during the following statement period.
To redeem online, follow these two easy steps:
- Navigate to your checking account and on the 'Activity' tab select 'Rewards'
- Choose ‘Redeem Rewards’ and the funds are instantly deposited into your Checking Account!
What types of purchases qualify to earn cash back?
Cashback Rewards will be calculated at month end on net debit and credit card purchases (purchases minus any credits or returns) that post to your account each statement cycle. ATM withdrawals, credit card cash advances, and credit card balance transfers are not considered purchases and will not earn Cashback Rewards. A Citadel debit or credit card must be linked to your Cashback Rewards Checking Account to earn Cashback Rewards on purchases.
How do I switch my current Checking Account to a Cashback Rewards Checking Account?
You can convert your current Checking Account to a Cashback Rewards Checking Account through Online and Mobile Banking, by calling Citadel, or visiting us in a branch. Converting your account is easy in Online and Mobile Banking:
- Click into the Checking Account you want to convert.
- From your account details use the 3 dot ellipses menu and select 'Switch Account Type'
- Confirm your account details, and you’re done!
Your account number and card number will stay the same.
How do I open a Cashback Rewards Checking account?
Opening a Cashback Rewards Checking Account is simple and easy. You can open online, at any Citadel branch or by calling 1-800-666-0191.
- New Citadel customers can open online in as little as 15 minutes with a government issued ID to get started. Open Now!
- Current Citadel customers can open in Online and Mobile Banking by selecting by selecting 'Open An Account’ from the menu.
Do earned Cashback Rewards expire?
No. Any unredeemed rewards will be automatically deposited into your Cashback Rewards Checking Account after the account has been open for one year and annually thereafter.
Can I set my Cashback Rewards to redeem automatically each month?
No, earned cash back can only be redeemed by completing the redemption process in Online Banking or Citadel's Mobile App, or by contacting Citadel in person or by phone.
Are Cashback Rewards reportable as income?
No, Cashback Rewards earned on qualifying purchases are not reportable as income.
Can I link a non-Citadel credit card to my Cashback Rewards Checking Account?
No, only a Citadel credit card can be linked.
Can I link any of my Citadel credit card types (Choice, Cash Rewards, World or Rewards) to the Cashback Rewards Checking Account?
Yes, the Cashback Rewards Checking Account can have multiple cards or card types linked to it, but each credit card can only be linked to one Cashback Rewards Checking Account.
What will happen to Star and Premiere Accounts?
Star and Premiere Checking accounts will be grandfathered. Existing accounts will retain their current Star and Star Premiere account features. These account types will no longer be featured in Marketing materials and will not be available as an option for new accounts.
Do my earned Cashback Rewards count toward the Average Daily Balance requirement?
Yes, but only when they are redeemed and deposited into the Cashback Rewards Checking Account.
I have a joint checking account with my family member. Will we both receive rewards?
Qualifying purchases made with any linked debit or credit card will earn Cashback Rewards. Maximum Cashback Rewards earnings are per account, not per account owner.
How do I link my credit card to my Cashback Rewards Checking Account?
You can link any of your Citadel credit cards to your Cashback Rewards Checking Account through the account opening process in Online and Mobile Banking. If you want to link your credit card at another time, simply call Citadel or visit a branch.
Does a recurring transfer from another account meet the direct deposit requirement?
No, transfers from other accounts are not considered direct deposits.
I have a direct deposit every month into my savings account. Will that meet the direct deposit requirement?
No, the direct deposit must be deposited into your Cashback Rewards Checking Account. Need to change your Direct Deposit? Download our form and it in to your employer to get started.
If an existing checking account is switched to a Cashback Rewards Checking Account, when do I start earning cash back?
Accounts are eligible to start earning Cashback Rewards immediately. However, the account must meet minimum balance or direct deposit requirement to earn Cashback Rewards.
Can I open a Cashback Rewards Checking Account for my business?
No, the Cashback Rewards Checking Account is not available for business accounts or public funds.
Can my Cashback Rewards be deposited into an account other than the Cashback Rewards Checking Account?
No, but after your Cashback Rewards are deposited into the Citadel Cashback Rewards Checking Account, you may transfer the funds to any account.
How long do I have to fund my account?
The monthly service fee will be waived for the first 60 days your account is open to give you time to meet the balance or direct deposit requirement.
If I switch accounts, will I still earn dividends with the new Cashback Rewards Checking Account?
Yes, the Cashback Rewards Checking Account currently earns monthly dividends on balances greater than $5,000.
Still have questions? Learn more about Cashback Rewards Checking.
