Posted by William Charles on September 21, 2019
Bank Account Bonuses

Published on September 21st, 2019 | by William Charles

20

[Expired] [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

The Offer

Direct link to 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:



20
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
SOZ
SOZ

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.

mawn
mawn

My SO is joint account holder in my account, not sure whether she is eligible for this account

Justin M Thorne
Justin M Thorne

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.

Jeff
Jeff

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.

Bryan
Bryan

Flagstar replaced most WF locations in my area. Wonder if they’re as accepting of MO deposits…

King Kong
King Kong

No Flagstar Bank Branches in Wisconsin (just mortgage entities).

LWT3
LWT3

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.

AllenW
AllenW

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?

SOZ
SOZ

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.

David Malson
David Malson

No branches in ohio…

Rodd
Rodd

William Charles, seems this is available in CALI, I searched and there are branches in Hesperia, CA area

E
E

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.

Thom
Thom

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.

E
E

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.

Thom
Thom

Yes, thank you; guess I’ll just have to wait for the link to come up again.

Jethro Tuller
Jethro Tuller

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.

Benny
Benny

Would you be willing to share the screenshot?

Mek
Mek

William Charles Seems expired

Back to Top ↑