Flagstar Bank Promotions: $300, $500 Checking Bonuses (AZ, CA, FL, IN, MI, NJ, NY, OH, WI)

Find the latest listing of Flagstar Bank promotions, bonuses, and offers here.

Update 9/16/26: The $300 or $500 checking bonus is back! Limited time offer.

Flagstar Bank Promotions Review

Flagstar Bank is a bank headquartered in Michigan. It is the primary subsidiary of Flagstar Bancorp, Inc., a bank holding company. It is one of the largest residential mortgage services and is on the list of largest banks in the United States.

I’ll go over Flagstar Bank offers below.

Flagstar Bank $300 or $500 Checking Bonus

• What you’ll get: $300 or $500 bonus
• Availability: AZ, CA, FL, IN, MI, NJ, NY, OH, WI (Bank Locator)
• Direct Deposit Requirement: Yes, $500+
• Credit Inquiry: Soft Pull
• Monthly Fees: None
• Early Termination Fee: None listed, check with CSR for more information
• How to earn it:
  • Open a Ready Checking or Elite Checking account with $50 or more.
    • $300 Cash Bonus for Flagstar Ready Checking
    • $500 Cash Bonus for Flagstar Elite Checking
  • Within 90 days receive 3 monthly direct deposits totaling:
    • $1,500 ($500/month) for Ready Checking
    • $7,500 ($2,500/month) for Elite Checking
  • Receive your cash bonus. Within 30 days of receiving your three monthly direct deposits, you will receive your cash bonus deposited directly into your new account.

(Limited time offer)

Fine Print

• You must be a new personal checking customer of Flagstar Bank.
• You must open a Flagstar Ready Checking account or a Flagstar Elite Checking account.
• You will receive either a $300 credit into your Flagstar Ready Checking account or a $500 credit into your Flagstar Elite Checking account as a bonus 91–104 days after account opening, subject to the following conditions: Within the first 90 days after account opening, you must receive one or more direct deposits (ACH credits) totaling at least $500 per month for each of the three calendar months following account opening (for a cumulative total of at least $1,500) to qualify for the Ready Checking $300 offer; or at least $2,500 per month for each of the three calendar months following account opening (for a cumulative total of at least $7,500) to qualify for the Elite Checking $500 offer.
• For purposes of this offer, “direct deposit” means an electronic deposit of your paycheck, pension, Social Security, or other regular monthly income deposited into your account via ACH.
• Additionally, (i) this offer is limited to one promotion per household; (ii) if any signer on this account has been paid a checking cash bonus previously, you are ineligible to receive this offer; (iii) this offer cannot be combined with any other offers or promotions; (iv) early account closure fee and reclamation of bonus may be imposed for accounts closed within 180 days; and (v) Flagstar Bank employees are not eligible for the offer.
• For tax purposes, the value of any cash bonus or incentive is considered taxable as interest and you will receive an IRS form from Flagstar Bank.
• Consult your tax advisor regarding your specific tax situation.
• Offer subject to change or cancellation at any time without notice.
• Receiving this offer does not guarantee your eligibility.
• All account applications are subject to our normal approval process.
• Area restrictions may apply.

Flagstar Bank $1,000 Business Checking Bonus (NY Only) (Expired)

• What you’ll get: $1,000 bonus
• Where it’s available: In-branch only; AZ, CA, FL, IN, MI, NJ, NY, OH, WI
• How to earn it:
  • This offer is only available for businesses based in New York and the account must be opened in one of our New York retail branch locations.
  • Open a Business Solutions Checking or Business Solutions Checking with Interest account.
  • Maintain an average daily balance of $25,000 or more for the first 90 days.

(Expires 11/30/2025)

Flagstar Bank $500 Business Checking Bonus (Expired)

• What you’ll get: $500 bonus
• Where it’s available: In-branch only; AZ, CA, FL, IN, MI, NJ, NY, OH, WI
• How to earn it:
  • Open a Business Solutions Checking or Business Solutions Checking with Interest account.
  • Maintain an average daily balance of $25,000 or more for the first 90 days.

(Expires 11/30/2025)

How to Avoid Monthly Fees

• SimplyAccess Checking:  $10 monthly fee waived with:
  • $1,000 Average Daily Collected Balance OR
  • $2,500 Average Daily Collected Balance in combined personal checking, savings, money market, and CD accounts OR
  • 10 or more ATM/debit card point-of-sale transactions OR
  • ACH credits of $500 or more OR
  • 24 years of age or younger
• SimplySelect Checking: $15 monthly fee waived with:
  • $1,500 Average Daily Collected Balance OR
  • $5,000 Average Daily Collected Balance in combined personal checking, savings, money market, and CD accounts
• SimplyMax Checking: $25 monthly fee waived with:
  • $5,000 Average Daily Collected Balance OR
  • $25,000 Average Daily Collected Balance in combined personal checking, savings, money market, and CD accounts
• SimplySavings: $3 monthly fee waived with:
  • An average daily balance of $300 OR
  • Flagstar personal checking account
• Foundation Savings Plus Account: $15 monthly fee waived with:
  • Flagstar personal checking account OR
  • A $10,000 Average Daily Collected Balance
• High-Yield Savings Account: $35 monthly fee waived with:
  • Flagstar personal checking account OR
  • A $50,000 average daily balance
• SimplyKids Savings Account: No monthly fee
• Health Savings Account (HSA): $5 annual administration fee
• Standard Business Checking: There are no monthly fees with this account.
• Enhanced Business Checking: $15 monthly fee be waived with:
  • $5,000 average daily collected balance. OR
  • $15,000 combined average daily collected balance in your linked Flagstar accounts. OR
  • An active Merchant Services account with $5,000 in net deposits per month.
• Premier Interest Business Checking: $35 monthly fee waived with:
  • $25,000 average daily collected balance. OR
  • $50,000 combined average daily collected balance in your linked Flagstar accounts. OR
  • An active Merchant Services account with $25,000 in net deposits per month.
• Business Analysis Checking: Not listed

Author’s Verdict

Check out this Flagstar Business Checking Bonus! If this sounds like something you would be interested in, complete the requirements listed above! Be sure to note that this promotion is available in branch only.  If you happen to know any info regarding credit inquiry, opening deposits, or the early termination fees, please let us know!

For more current offers, check out our bank bonuses page. Compare Flagstar Bank rates for CDs and Savings with our best rates for Savings and CD accounts.

Be sure to check more popular bank promotions include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank, and many more.