Find an updated list of Flagstar Bank bonuses, promotions, and offers here.
Update 7/30/24: The $250 or $350 checking bonus offers have been extended through 9/30/24.
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 $350 Checking Bonus
Earn a $350 bonus when you open a new checking account and meet the requirements.
- What you’ll get: $350 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.
- $250 Cash Bonus for Flagstar Ready Checking
- $350 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
- Open a Ready Checking or Elite Checking account with $50 or more.
(Expires 09/30/2024)
| Chase Total Checking ($300 Bonus) | KeyBank Checking ($300 bonus) |
| Bank of America Checking ($200 Bonus Offer) | Fifth Third Bank Checking ($325 Bonus) |
| SoFi Checking & Savings Account ($325 bonus) | Truist Checking ($400 bonus) |
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 $250 credit for Flagstar Ready Checking or a $350 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 60 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.
- 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 September 30, 2024.
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: 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 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
(Limited time offer)
| 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) |
| Huntington Business Checking 100 ($200 Bonus) | Bank of America Business Checking ($200 bonus offer) |
| Axos Business Premium Savings ($375 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.
Furthermore, your feedback is highly appreciated and makes our site even better!
Check back often for more Flagstar Bank Bonuses, Promotions, or Offers!
