Flagstar Bank Bonuses: $300, $500, $1000 Checking, Business Promotions (AZ, CA, FL, IN, MI, NJ, NY, OH, WI)

Find an updated list of Flagstar Bank bonuses, promotions, and offers here.

Update 5/19/25: There’s now a $1000 business checking bonus valid through 6/30/25. The $300 or $500 checking bonus has been extended through 5/31/25.

Flagstar Bank Bonuses Review

I’ll go over all Flagstar Bank bonuses & offers below.

Flagstar Bank $300 or $500 Checking Bonus

Earn a $300 or $500 bonus when you open a new checking account and meet the requirements.

• What you’ll get: $300 or $500 Bonus
• Eligible account: In-branch only; Checking Account
• Where it’s available: AZ, CA, FL, IN, MI, NJ, NY, OH, WI
• Credit Inquiry: Soft Pull
• Direct Deposit Required: Yes
• Monthly Fee: $10-$25; waivable
• 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 05/31/2025)

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 May 31, 2025.

Flagstar Bank $1,000 Business Checking Bonus *In-branch*

Earn a $1,000 bonus when you open a new business checking account and meet the requirements.

• What you’ll get: $1,000 Bonus
• Eligible account: In-branch only; Business Checking Account
• Where it’s available: AZ, CA, FL, IN, MI, NJ, NY, OH, WI (Bank Locator)
• Credit Inquiry: Soft Pull
• Direct Deposit Required: No
• Monthly Fee: $10-$25; waivable
• How to earn it: 
  • Open a Business Solutions Checking or Business Solutions Checking with Interest account at your local branch. Minimum $100 deposit to open a checking account.
  • Maintain an average daily balance of $25,000 or more for the first 90 days.
  • You will receive a $1,000 credit into this account as a bonus 91-104 days after making an initial deposit to the new account.
  • Try Clover for 60 days + get a $500 rebate.

(Expires 06/30/2025)

Fine Print

• Important information will be provided to you in the disclosures you receive during the account opening process.
• You must be a new business checking customer of Flagstar Bank and open a Business Solutions Checking or Business Solutions Checking with Interest account. Minimum $100 deposit to open a checking account. You will receive a $1,000 credit into this account as a bonus 91-104 days after making an initial deposit to the new account (account funding), subject to the following condition: Within the first 90 days of the account funding (bonus period), you must maintain an average daily balance of $25,000 or more. Additionally, (i) this offer is limited to one business checking bonus per tax identification number, (ii) Business Solutions Checking or Business Solutions Checking with Interest account must be funded within 90 days of the account opening date, (iii) consumer accounts do not qualify for this business checking offer, (iv) early account closure fee and reclamation of bonus may be imposed for account closed within 180 days, and (v) Flagstar employees are not eligible for the offer. If you have been paid a business checking cash bonus previously, you are ineligible to receive this offer. If multiple accounts are opened with the same account holder, only one account may be eligible for the business cash bonus. This offer cannot be combined with any other offers or promotions. For tax purposes, you will receive an IRS form from Flagstar. Receiving this offer does not guarantee your eligibility. All account applications are subject to our normal approval process. Area restrictions may apply. Offer expires June 30, 2025.
• Promotional offer valid from April 1, 2025, through June 30, 2025. This offer is available for qualified Flagstar Bank merchant services customers who have not had a merchant services account processed by First Data Merchant Services LLC within the last six months. Offer is valid for one Clover Business bundle for a Clover Flex, Flex Pocket, Mini, Station Solo, or Station Duo point-of-sale hardware device purchase or 36- month or 48-month subscription. The Clover Business bundle includes a $500 rebate and a no-cost 60-day trial of the Essentials service plan. The $500 rebate will be initiated approximately 60 days after the account begins processing transactions. The Essentials Plan monthly fees will be billed after 60 days. To be eligible, the merchant must (1) purchase or subscribe to a Clover Flex, Flex Pocket, Mini, Station Solo, or Station Duo point-of-sale device; (2) be credit approved between 4/1/25 and 6/30/25; (3) sign a merchant processing agreement; (4) activate account within 30 days from approval date. Additional fees apply to certain services on activated accounts. All terms and conditions apply, including, without limitation, all applicable early termination fees and monthly minimums. Eligibility is at the sole discretion of First Data Merchant Services LLC. Only one offer per eligible business tax ID. Offer not valid with any other offer and is subject to change without notice.

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

Conclusion

All in all, the current bonus from Flagstar Bank is fantastic. Along with great services and features, there are no monthly fees so sign up if this interests you! Make sure to sign up in branch as that is a requirement to earn this bonus!

Flagstar Bank has decent rates for CDs and Savings, but always check out our best rates for Savings, Money Market, and CD accounts from the links below.

• Best Savings/Money Market rates
• Best CD Account rates

If you’re not local to any of the states above, use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank, and many more.

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