(AZ, CA, FL, IN, MI, NJ, NY, OH, WI) $300-$500 Check Bonus Flagstar Bank (Monthly Fee Increase)

Update 4/11/26: It will become more difficult to waive the monthly fee starting 5/1/26. Updated the fees section to reflect this. The offer has also been extended until May 31, 2026, hat tip to the reader Aleksa

Update 2/27/26: Extended to 4/30/26

Update 2/7/26: Extends through February 28, 2026

Added by 1/26/31.

Postponed until 12/31/25

Postponed until 11/30.

It runs until October 31, 2025

extended until September 30, 2025

Postponed until 31.08.2025

Postponed until 31.07.2025

Added until 30.6.2025

Added until 31.5.2025

Added until 31.03.2025

Update 1/4/25: The bonus has now increased to $300/$500 from $250/$350.

Update 1/2/25: Extends through February 28, 2025

It runs until December 31, 2024

Update 9/30/24: Extends through November 30, 2024.

Update 7/29/24: Extends through 9/30/2024

Update 7/2/24: Extends through July 31, 2024

Update 6/16/24: Offer is back and valid through June 30, 2024.

Update 5/14/24: Extends through May 31, 2024.

Offer at a glance

• Maximum bonus amount: 350 dollars
• Availability: Arizona, California, Florida, Indiana, Michigan, New Jersey, New York, Ohio and Wisconsin
• Direct deposit required: Yes, $500+
• Additional requirements: Average balance of $500
• Hard/soft pull: Gentle pull
• ChexSystems: yes
• Credit card financing: ANY
• Monthly fees: 0-15 dollars
• Early account closure fee: 180 days, bonus forfeiture
• Family boundary: A
• Expiration date: April 30, 2024

Offers

Direct link to the offer

• Flagstar Bank offers a checking bonus of up to $350.
  • $300 when you open a Flagstar ready check and meet the following requirements:
    • Maintain an average daily balance of $500+
    • You have one or more direct deposits totaling $500 or more
  • $500 when you open a Flagstar Elite check and meet the following requirements:
    • Maintain an average daily balance of $500+
    • You have one or more direct deposits totaling $500 or more

Fine Press

• You must be a new Flagstar Bank personal checking customer.
• You must open a Flagstar Ready Checking or Flagstar Elite Checking account.
• $50 minimum deposit to open a checking account.
• You will receive a $250 Flagstar Ready Checking credit or a $350 Flagstar Elite Checking credit on this account as a bonus 91-104 days after an initial deposit is made on the newly opened account (account funding), subject to the following conditions:
• Within the first 90 days of account funding (the 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 account opening date, Flagstar Elite Checking Account must be funded within 60 days of account opening date, (iii) early account closure fee and bonus recovery may be imposed 10 days for employees and 10 days for eligible closed accounts for the offer.
• If you have previously been paid a cash bonus, you are not eligible 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. Receipt of this offer does not guarantee your eligibility. or
• All account applications are subject to our normal approval process. Area restrictions may apply.
• Offer expires April 30, 2024.
• All bank account bonuses are treated as income/interest and as such you must pay tax on them

Avoidance of fees

Monthly fees

Note: Beginning May 1, 2026, there will be changes to your Flagstar Ready Checking Account. See below:

• The monthly service fee will increase from $3 to $10
• The fee reduction and/or waiver criteria have been updated as follows: You can reduce the fee to $5 by meeting one of the requirements for each statement cycle, or you can waive the fee entirely by meeting two of the following requirements for each statement cycle:
  • Register for electronic declaration submission (eDeclaration)
  • Receive one or more direct deposits (ACH credits) totaling $500 or more each statement cycle
  • Maintain an average balance of $1,000 or more per cycle
  • The primary owner is 24 years of age or younger
• The Flagstar checking account has no monthly fee when you choose eStatements
• Flagstar Elite Checking has a $15 monthly service fee, which is waived when you maintain an average monthly balance of $25,000 in your Flagstar personal deposit accounts

Early account termination fee

The bonus is forfeited if the account is closed within 180 days

Our verdict

Previously there was a $250 bonus that did not require a direct deposit. It seems to be available in more states now due to the NYCB merger. The $350 checking bonus is not worth considering due to the $25,000 deposit requirement to keep the account fee free (remember the account must be kept open for 180 days to avoid the closing fee). If you put those funds into a high yield account earning 5% you would earn $625. We will add this bonus to ours best bank account bonuses.

Hat tip to reader Jason S

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