Earn a $250 cash bonus from Flagstar Bank when you open a SimplyChecking account and complete the offer requirements.
Update 12/5/2022: New York Community Bank (NYCB) and Flagstar Bank have merged and will operate as Flagstar Bank, N.A. My Banking Direct is a service of Flagstar Bank.
Update 11/13/2022: The offer is back but there is no direct. They will honor it in-branch. Call or visit your nearest branch.
Flagstar Bank is also offering a $500 cash bonus for a business checking account with no direct deposit requirement. Read about the offer here.
Flagstar Bank Promotion(s)
[Expired] Flagstar Bank $250 Checking Bonus
- What you’ll get: $250 bonus
- Where it’s available: IN, MI, OH, WI
- How to earn it:
- Open a SimplyChecking account with $50 or more.
- Maintain an Average Daily Collected Balance of $500 or more for the first 90 days.
- Set up a recurring direct deposit (ACH credit) of $500 or more in the first 90 days OR perform 10 debit card purchases.
- When it expires: 12/31/2022
Offer available in-branch
How To Earn The $250 Bonus
- Open a SimplyChecking account with $50 or more.
- Maintain an Average Daily Collected Balance of $500 or more for the first 90 days.
- Set up a recurring direct deposit (ACH credit) of $500 or more in the first 90 days OR perform 10 debit card purchases.
Account Features
- ONLINE AND MOBILE BANKING
- OVER 56,000 ATMS
- OVERDRAFT PROTECTION
Waive The Monthly Fee
SimplyChecking has everything you need with no maintenance service charge. There’s a $2 monthly charge for paper statements; free electronic statements available.
Fine Print
- Must be a new personal checking customer of Flagstar Bank.
- Minimum $50 deposit to open checking account.
- New checking account must maintain an Average Daily Collected Balance of $500 or more for the first 90 days.
- Customer must set up a recurring direct deposit of $500 or more in the first 90 days, or perform 10 debit card purchases.
- If these conditions are met, the $250 bonus will be deposited into the qualifying checking account 91-100 days from account opening and will be labeled “Descriptive Deposit Promotional Credit.”
- New checking account must remain open for a minimum of 180 days, or an early account closing fee will be assessed along with the $250 repayment.
- This offer is limited to one bonus per household.
- This offer cannot be combined with any other bonus offers.
- Flagstar Bank employees are not eligible for this offer.
- For tax purposes, the customer will receive an IRS form from Flagstar Bank.
- Offer subject to change or cancellation at any time without notice. SimplyOne accounts do not qualify.
- If you’ve been paid a cash bonus previously, you are ineligible to receive this offer.
- Receiving this offer does not guarantee your eligibility.
- All account applications are subject to our normal approval process.
- Personal accounts only.
- Area restrictions may apply.
Bottom Line
The previous offer was for a $300 bonus, so this is almost just as good.
See great bonuses from Chase, Aspiration, Bank of America and more here.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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