[MI, IN, OH In Branch] Flagstar Bank $250 Checking Bonus – Direct Deposit Not Required
Offer at a glance
- Maximum bonus amount: $250
- Availability: MI, IN, OH In Branch
- Direct deposit required: Optional
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: 180 days, bonus forfeit and fee charged
- Household limit: One
- Expiration date: None listed
Contents
The Offer
- Flagstar Bank is offering a bonus of $250 when you open a SimplyChecking account and complete the following requirements:
- Open with at least $50
- 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
The 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.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
SimplyChecking has no monthly fees to worry about
Early Account Termination Fee
Account must be kept open for 180 days otherwise an early account termination fee will be charged and bonus must be repaid.
Our Verdict
Previous deal was for $300 with no bonus requirements. Last time it was offered you did need to bring in a mailer, but I don’t see anything about a mailer being required in the terms so it’s possible it’s publicly available this time. If it is publicly available, this is definitely going on our list of the best checking account bonuses.
Hat tip to reader BR
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
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Gonna call their nearest branch (LaPorte, IN) to see if residents of Illinois are eligible for this deal.
Note: cheap gas and smokes mitigate the shlep.
My SO is joint account holder in my account, not sure whether she is eligible for this account
I did this with the $250 mailer offer in the winter, closed it after 180 days without issue. 10 debit purchases, no direct deposit. Easy.
Received a $300 mailer this past spring and opened in-branch on 3/25. Just days away from being able to close this account and churn it again in the future.
Flagstar replaced most WF locations in my area. Wonder if they’re as accepting of MO deposits…
No Flagstar Bank Branches in Wisconsin (just mortgage entities).
Thanks, let me update.
It looks like it is the same for Ohio – just 1 lending center, no branches show.
This seems like an important limitation: If you’ve been paid a cash bonus previously, you are ineligible to receive this offer. I got a bonus from Flagstar two years ago, so it sounds like they would deny me a bonus if I try to open this now.
I agree. It sounds like discovers once in a lifetime kind of thing. If that’s the case maybe I wait until it’s a better offer. Anyone churn this bank before?
Just called their branch in Laporte IN. They would be happy to open this account+bonus for residents of Illinois packing appropriate 2 x IDs and a fistful of Benjamins.
No branches in ohio…
William Charles, seems this is available in CALI, I searched and there are branches in Hesperia, CA area
The link seems no longer exist. But when I bring an opened website to the branch, they are able to add such a bonus to my account.
what do you mean when you say you brought an opened website? Like you printed out…the link above? this page? your open laptop? hoping this can work for me too, thanks.
I opened the link (not DoC page) while available and never closed. I just showed the banker my laptop. She found a bonus which sounds like “switch bonus” and added it to my account. I say “sounds like” because she was calling her supervisor and read the bonus name. Hoping it’s helpful information.
Yes, thank you; guess I’ll just have to wait for the link to come up again.
I also see that the link doesn’t display any bonus. I had printed a screenshot when it was working, and brought that when I opened my account today.