Flagstar Bank checking $500 Bonus

Requirements

• Receive 3 monthly direct deposits totaling $7,500 ($2,500/mo) within 90 days for the $500 Elite tier
• Keep account open for 180 days to avoid early closure fee and bonus reclamation ($10/mo fee for Ready waived with eStatements)
• Must be a new personal checking customer; limit one checking bonus per household

Timeline

1. Direct deposit ×3 totaling $7,500.
2. Complete all requirements within 90 days.
3. Keep the account open 180 days to avoid clawback or early-close fees.

Bonus tiers

• $400 — Flagstar Ready Checking: 3 monthly direct deposits totaling $1,500 ($500/mo) within 90 days (FL, MI, OH residents): park $0, DD $1,500
• $500 — Flagstar Elite Checking: 3 monthly direct deposits totaling $7,500 ($2,500/mo) within 90 days: park $0, DD $7,500

Closing the account (what we verified)

• Early-close fee: $0 if closed within 180 days of opening.
• Bonus clawback risk if closed within 180 days of opening.
• Bonus typically posts within 104 days of completing requirements.
• Monthly fee: $10 (waived: Flagstar Ready checking fee ($10/mo) waived with eStatements or $500 direct deposit or $1,000 avg balance).

Availability

Available in: AZ, CA, FL, IN, MI, NJ, NY, OH, WI

Other current bonuses

• HSBC checking $5,000 bonus
• E*TRADE IRA $5,000 bonus
• TradeStation brokerage $3,500 bonus