Flagstar Bank Bonus, Earn Up to $500 with New Checking Account (Select States)

Flagstar Bank Checking Account Bonus

🔃 Update: The bonus is now up to $500 and valid through May 31, 2026. 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. Fee waiving requirements have also changed.

Flagstar Bank is offering a checking account bonus of up to $350. The bonus you earn depends on the checking account that you open. Before you continue reading any further, you should know that this bonus is only available in AZ, CA, FL, IN, MI, NJ, NY, OH, WI. Now let’s see how this bonus works.

How to Earn This Bonus

There are two bonuses available, based on which checking account you open:

• Open a Ready Checking or Elite Checking account with $50 or more.
  • $250 Bonus for Ready Checking
  • $350 Bonus for 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

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. For tax purposes, you will receive an IRS form from Flagstar Bank.

Are You Eligible?

Here are the eligibility details for this bonus:

• Offer available in AZ, CA, FL, IN, MI, NJ, NY, OH, WI.
• You must be a new personal checking customer of Flagstar Bank.
• Offer is limited to one checking bonus per household

Account Fees

• Monthly fees:
  • Flagstar Ready Checking:
    • $10 monthly service fee can be reduced to $5 with any ONE of the following or fully waived with any TWO of the following: Enroll in electronic statements; $500 or more in total direct deposits (ACH credits) each statement cycle; $1,000 or more average balance each statement cycle; primary account holder is 24 years old or younger.
  • Flagstar Elite Checking:
    • $15 monthly service fee waived with $25,000 average daily balance in combined Flagstar linked personal deposit and/or wealth services accounts.
• Early account closure fee and reclamation of bonus may be imposed for accounts closed within 180 days

Guru’s Wrap-Up

This is a decent bonus from Flagstar Bank, but the $250 offer is probably the better option here. Flagstar Elite Checking is required for the $350 bonus, which means that you need to pay $15 per month for 6 months. You can waive the fee with $25,000 balance, but that’s not worth it. So I would just open the Flagstar Ready Checking account and go for the $250 bonus.

Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, then you can check our full list of available bank bonuses. You can also access bonuses available in your state by visiting dannydealguru.com/tag/NY-bank-bonus/. Just replace NY with your state.

And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

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💡 Link & Full Details

• OFFER PAGE
• Max Bonus: $500
• Account Type: LifeGreen Checking
• Availability: AZ, CA, FL, IN, MI, NJ, NY, OH, WI.
• Type of Inquiry: Soft pull
• Direct Deposit Requirement: $500 within 90 days (see what works)
• Other Requirements: $500 balance for 90 days
• Credit Card Funding: No
• Early Account Closing Fee: Must keep account open for 180 days
• Expiration Date: 04/30/24 5/31/24 6/30/24 9/30/24 11/30/24 11/30/2025 2/28/26 5/31/26

HT: DoC

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