Find an updated list of Flagstar Bank bonuses, promotions, and offers here.
Right now, you can earn a $250, $500 bonuses when you complete all the requirements.
Flagstar Bank Bonuses Review
Flagstar Bank is the banking subsidiary of Flagstar Bancorp, Inc., a publicly-traded bank holding company (NASDAQ: FBC) that is a national leader in wholesale mortgage lending. The commercial bank offers deposit accounts, consumer loans, and credit cards to individuals, as well as cash management services to businesses.
I’ll go over all Flagstar Bank bonuses & offers below.
Flagstar Bank $250 Checking Bonus *In-branch*
Earn a $250 bonus when you open a new checking account and meet the requirements.
- What you’ll get: $250 Bonus
- Eligible account: In-branch only; Checking Account
- Where it’s available: MI, IN, OH
- Credit Inquiry: Soft Pull
- Direct Deposit Required: Yes
- Monthly Fee: $10-$25; waivable
- How to earn it:
- Open a SimplyChecking account with $50 or more.
- Maintain an Average Daily Collected Balance of $500 or more for the first 90 days.
- Set up a recurring direct deposit (ACH credit) of $500 or more in the first 90 days OR perform 10 debit card purchases.
(Offer expires 12/31/2022 – In-Branch Offer)
| Additionally, you can take advantage of some of the best offers available for entry level checking accounts such as U.S. Bank Smartly® Checking ($800 Cash Bonus), Chase Total Checking ($200 Bonus), and Bank of America Checking ($200 Bonus Offer), Axos Bank Rewards Checking ($300 Bonus), Fifth Third Bank Checking ($200 Bonus), KeyBank Checking ($200 bonus). |
Fine Print
- Must be a new personal checking customer of Flagstar Bank.
- Minimum $50 deposit to open checking account.
- New checking account must maintain an Average Daily Collected Balance of $500 or more for the first 90 days.
- Customer must set up a recurring direct deposit of $500 or more in the first 90 days, or perform 10 debit card purchases.
- If these conditions are met, the $250 bonus will be deposited into the qualifying checking account 91-100 days from account opening and will be labeled “Descriptive Deposit Promotional Credit.”
- New checking account must remain open for a minimum of 180 days, or an early account closing fee will be assessed along with the $250 repayment.
- This offer is limited to one bonus per household.
- This offer cannot be combined with any other bonus offers.
- Flagstar Bank employees are not eligible for this offer.
- For tax purposes, the customer will receive an IRS form from Flagstar Bank.
- Offer subject to change or cancellation at any time without notice. SimplyOne accounts do not qualify.
- If you’ve been paid a cash bonus previously, you are ineligible to receive this offer.
- Receiving this offer does not guarantee your eligibility.
- All account applications are subject to our normal approval process.
- Personal accounts only.
- Area restrictions may apply.
Flagstar Bank $500 Business Checking Bonus *In-branch*
Earn a $500 bonus when you open a new business checking account and meet the requirements.
- What you’ll get: $500 Bonus
- Eligible account: In-branch only; Business Checking Account
- Where it’s available: MI, IN, OH (Bank Locator)
- Credit Inquiry: Soft Pull
- Direct Deposit Required: No
- Monthly Fee: $10-$25; waivable
- How to earn it:
- Open a new business checking account
- Have at least $5,000 in deposits within the first 90 days
- Have 10 qualified transactions within the first 90 days
(No offer expiration listed)
| For other business checking accounts, take a look at our Chase Business Checking ($300 Bonus), U.S. Bank Business Checking ($350 or $800 Bonus), Axos Bank Basic Business Checking ($400 Bonus), Axos Bank Business Interest Checking ($400 Bonus), Huntington Unlimited Plus Business Checking ($1,000 Bonus), Huntington Unlimited Business Checking ($400 Bonus), as well as the Huntington Business Checking 100 ($200 Bonus). |
Fine Print
- Must be a new business checking customer of Flagstar Bank.
- Minimum $100 deposit to open a business checking account.
- $500 bonus will be deposited into the qualifying business checking account 91-100 days from account opening and will be labeled “Descriptive Deposit Promotional Credit.”
- 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.
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.
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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Check back often for more Flagstar Bank Bonuses, Promotions, or Offers!
