Flagstar Bank $300 / $500 Checking Bonus
The Offer: $300 / $500 bonus for opening a new Flagstar checking account and completing requirements. Two bonus tiers available. Offer expires February 28, 2025.
Eligibility:Â
- Arizona, California, Florida, Indiana, Michigan, New Jersey, New York, Ohio, Wisconsin.
- Offer is limited to one checking bonus per household.Â
- Lifetime language. “If you have been paid a checking cash bonus previously, you are ineligible to receive this offer.
Step 1: Open a new “Ready Checking” account through the promotional offer page. Minimum $50 opening deposit. Can be opened online from the offer page or in branch.
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Step 2: Maintain an average daily balance of $500 or more for the first 90 days.
Step 3: Set up one or more direct deposits totaling $500 or more in the first 90 days.
Step 4: A $300 bonus will be deposited to the account 91-104 days after the initial deposit is made to the account and all conditions have been met.
Step 1: Open a new “Flagstar Elite Checking” account at a branch (no option to open this account online). Minimum $50 opening deposit.
Step 2: Maintain an average daily balance of $500 or more for the first 90 days.
Step 3: Set up one or more direct deposits totaling $500 or more in the first 90 days.
Step 4: A $500 bonus will be deposited to the account 91-104 days after the initial deposit is made to the account and all conditions have been met.
Summary & Links
The Good:
-Two bonus tiers available.
-No MSF on the “Ready Checking” account when enrolled in e-statements.
-Very low direct deposit requirements.
The Bad:
-Not available nationwide.
-The higher tier bonus account, “Flagstar Elite” checking, must be opened in branch and has a $15 MSF.
-EATF. Bonus may be forfeited if account is closed within 180 days.
Overall: Two bonus tiers for those residing in the eligible states. Given that the $300 bonus account can be opened online, and the MSF is waived by enrolling in e-statements, this might be the more popular option.
Link to the Flagstar offer page:Â Flagstar $300 / $500 Bonus.
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