Over the past year, the Federal Reserve has worked tirelessly to tame a record-high inflation rate. As a result, the federal funds rate has been raised consistently in 25-to-75 basis-point increments in an effort to get the economy running smoothly once again. The catch: Raising rates raises the cost of borrowing. But for savers and checking account holders, it's not all bad news. Having fewer borrowers means banks look for other ways to reel in new customers, often in the form of higher annual percentage yields (APYs) or lucrative checking account bonuses.
One of the highest checking account bonuses available right now now: Citibank's "New to Citi Checking Cash Bonus Offer."
