Deal has expired, view the best current checking bonuses by clicking here.
Branches are requiring bringing in the mailer sadly 🙁
Offer at a glance
- Maximum bonus amount: $300
- Availability: In branch only. They have branches in MI, IN, OH, WI [Branch locator]
- Direct deposit required: No
- Additional requirements: $50 minimum opening deposit
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: 180 days, bonus forfeit and additional fee
- Household limit: One
- Expiration date: April 30th, 2019
Contents
The Offer
No direct link to offer, sent out via e-mail. Doesn’t really look targeted as you don’t need to show the offer and it must be opened in branch anyway?
- Flagstar Bank is offering a bonus of $300 when you open a new account and complete the following requirements:
- Make a $50 minimum opening deposit
The Fine Print
- Must be a new personal checking customer of Flagstar Bank.
- Minimum $50 deposit to open checking account.
- $300 deposit will be deposited into 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.
- SimplyOne checking accounts do not qualify.
- Flagstar Bank employees are not eligible for this offer.
- For tax purposes, the customer will receive an IRS form from Flagstar.
- Offer subject to change or cancellation at any time without notice. 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.
- Offer expires 4/30/2019. Member FDIC.
- 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 needs to be kept open for 180 days otherwise you forfeit the bonus and have to pay a fee.
Our Verdict
Seems like a good bonus if it’s actually open to all, if it’s not open to all then I’m not entirely sure how they determine eligibility. I’ll add this to our best bank bonus page if it does turn out to be available without restriction. Feel free to share your experiences in the comments below.
Hat tip to reader Kyle
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
