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 1/8/25: The checking bonus offer has been improved offering $300 or $500 (previously $250 or $350) and have been extended through 2/28/25.

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
  • Maintain an average daily balance of $500 or more for the first 90 days.
  • Set up one or more direct deposits totaling $500 or more in the first 90 days

(Expires 02/28/2025)

Fine Print

• You must be a new personal checking customer of Flagstar Bank.
• You must open a Flagstar Ready Checking or Flagstar Elite Checking account.
• Minimum $50 deposit to open checking account.
• You will receive a $300 credit for Flagstar Ready Checking or a $500 credit for Flagstar Elite Checking into this account as a bonus 91-104 days after an initial deposit is made to the new account (account funding) opened, subject to the following conditions: Within the first 90 days of the account funding (bonus period) you must maintain an average daily Balance of $500 or more and have one or more direct deposits (ACH credits) totaling $500 or more.
• Additionally, (i) this offer is limited to one checking bonus per household, (ii)Flagstar Ready Checking account must be funded within 90 days of the account opening date, Flagstar Elite Checking account must be funded within 90 days of the account opening date, (iii) early account closure fee and reclamation of bonus may be imposed for accounts closed within 180 days, and (iv) Flagstar Bank employees are not eligible for the offer.
• If you have been paid a checking cash bonus previously, you are ineligible to receive this offer, and this offer cannot be combined with any other offers or promotions.
• For tax purposes, you will receive an IRS form from Flagstar Bank.
• 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.
• Offer expires February 28, 2025.

Flagstar Bank $500 Business Checking Bonus *In-branch*

• 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:
  • Must be a new business checking customer of Flagstar Bank.
  • Minimum $100 deposit to open a business checking account.
  • New business checking account must remain open for at least 90 days
  • Have deposits of at least $5,000 in the first 90 days
  • Have at least 10 qualified transactions within the 90 day period (qualified transactions are debits, paid items, credits, and deposited items).

(Limited time offer)

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.