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 10/20/25:

• The $300 or $500 checking bonus has been extended through 11/30/25.
• There’s a $1000 business checking bonus valid through 11/30/25 for NY residents only.
• There’s a $500 business checking bonus valid through 11/30/25.

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 11/30/2025)

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.
• Minimum $50 deposit to open 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 of the account opening (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)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 November 30, 2025.

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

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: 
  • 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)

Fine Print

• You must be a new business checking customer of Flagstar Bank.
• You must 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 account opening, subject to the following condition: Within the first 90 days of account opening (bonus period), you must maintain an average daily Balance of $25,000 or more. Additionally, (i) this offer is limited to one 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, (iv) early account closure fee and reclamation of bonus may be imposed for account closed within 180 days, and (v) Flagstar Bank employees and Flagstar Private Bank clients 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 cash bonus.
• This offer cannot be combined with any other business offers or business promotions.
• Only one consumer Cash Bonus offer may be combined with this Business Cash Bonus 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.
• 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.
• Offer expires November 30, 2025.

Flagstar Bank $500 Business Checking Bonus

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 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)

Fine Print

• You must be a new business checking customer of Flagstar Bank.
• You must open a Business Solutions Checking or Business Solutions Checking with Interest account. Minimum $100 deposit to open a checking account.
• You will receive a $500 credit into this account as a bonus 91-104 days after account opening, subject to the following condition: Within the first 90 days of account opening (bonus period), you must maintain an average daily Balance of $25,000 or more. Additionally, (i) this offer is limited to one 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, (iv) early account closure fee and reclamation of bonus may be imposed for account closed within 180 days, and (v) Flagstar Bank employees and Flagstar Private Bank clients 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 cash bonus.
• 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 November 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

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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Check back often for more Flagstar Bank Bonuses, Promotions, or Offers!