Flagstar Bank: $300-$500 Checking Account Bonus & “Give $200, Get $50” Referral Promotion (AZ, CA, FL, IN, MI, NJ, NY, OH, WI)

Flagstar Bank is giving away a $300 or $500 cash bonus when you open a Ready Checking or Elite Checking account with $50 or more, maintain an average daily balance of $500 or more for the first 90 days, and set up one or more direct deposits totaling $500 or more within the first 90 days.

Additionally, you can participate in the Flagstar Refer-A-Friend Program that offers new customers a $200 Visa Reward Card when you open a personal checking account, complete 10 or more debit card purchases OR at least 10 payments using Bill Pay or Zelle, and have one or more direct deposits totaling at least $1,000 within 90 days, and current customers will earn a $50 bonus for each successful referral for up to $500 per year.

It’s important to note that while the promotional terms for both of these offers indicate that they cannot be combined with any other offers, similar offers via ReferLive have been stackable in the past, so you may wish to try, although there are no guarantees that it will work.

Flagstar Bank has branches in Arizona, California, Florida, Indiana, Michigan, New Jersey, New York, Ohio, and Wisconsin. However, the $300-$500 checking bonus does have area restrictions, and it appears that customers in at least some areas of Wisconsin may not be able to qualify (other areas may be restricted as well).

Flagstar $200 Personal Checking Referral Bonus for New Customers

1. To qualify for the $200 referral bonus as a new customer, you must first register via this Flagstar $200 Bonus Referral Link to get started (link provided by reader).

2. Within 180 days after you register via the referral link, you must open a new Flagstar Bank personal checking account, including Flagstar Ready Checking, Flagstar Elite Checking, Flagstar Student Checking, Flagstar Military Checking, and Flagstar One Checking.

3. Maintain an open account status with your new personal checking account for at least 90 days.

4. Either complete 10 or more debit card purchases OR make at least 10 payments using Bill Pay or Zelle within 90 days of account opening.

5. Receive one or more direct deposits (ACH credits) totaling at least $1,000 within 90 days of account opening.

6. Receive a $200 Visa Rewards Card within 4-6 weeks after completing all of the offer requirements.

7. If you have been paid a cash checking bonus previously or have closed any Flagstar Bank checking account within the last 365 days, you are ineligible to receive this offer.

8. This offer is limited to one checking bonus per customer, and it cannot be combined with any other offers or promotions.

9. An early account closure fee and reclamation of the bonus may be imposed for accounts closed within 180 days.

10. Flagstar Ready Checking has a $3 monthly maintenance fee that is waived when you enroll in eStatements.

Flagstar $300-$500 Checking Account Bonus

1. Visit this Flagstar $300-$500 Cash Checking Offer to get started, but you must be a new personal checking customer of Flagstar Bank to participate.

2. Open a Flagstar Ready Checking or Flagstar Elite Checking account with $50 or more.

3. Maintain an average daily balance of $500 or more for the first 90 days.

4. Set up one or more direct deposits totaling $500 or more in the first 90 days.

5. You will receive a $300 bonus credit for Flagstar Ready Checking or a $500 bonus credit for Flagstar Elite Checking that will be deposited into your account within 91-104 days after your initial deposit is made to the new account, as long as you meet the qualifications.

6. If you have been paid a cash checking bonus previously, you are ineligible to receive this offer.

7. This offer is limited to one checking bonus per customer, and it cannot be combined with any other offers or promotions.

8. An early account closure fee and reclamation of the bonus may be imposed for accounts closed within 180 days.

9. Please note that the promotional terms indicate that “Receiving this offer does not guarantee your eligibility,” which means that this may have been a targeted promotion of some sort, or that everyone may not be eligible for one reason or another.

10. Additionally, at least one person has indicated that they were deemed ineligible when applying from the state of Wisconsin, and other area restrictions may apply.

11. Flagstar Ready Checking has a $3 monthly maintenance fee that is waived when you enroll in eStatements, while Flagstar Elite Checking has a $15 monthly service charge that is waived when you maintain a $25,000 combined daily average balance in your Flagstar personal deposit accounts.

Flagstar $50 Refer-A-Friend Program Bonuses for Current Customers

Through the Flagstar ReferLive Program, current Flagstar customers can register to refer new customers and earn up to ten $50 Visa Reward Cards ($500 total) per calendar year.

By participating in the Flagstar Refer-A-Friend Program, new customers will also earn a $200 Visa Reward Card by opening a Flagstar Bank personal checking within 180 days of registering via the referral link, maintaining an open account status for 90 days, completing 10 or more debit card purchases OR making at least 10 payments using Bill Pay or Zelle, and having one or more direct deposits (ACH credits) totaling at least $1,000, all within 90 days of account opening.

The referrer must be a current Flagstar customer at the time of the referee meeting the offer requirements to receive the Visa Reward Cards, and the referee must be a new personal checking account customer of Flagstar Bank who has not been paid a cash checking bonus previously or has not closed any Flagstar Bank checking account within the last 365 days.

The Flagstar Referral Program is available with Flagstar Ready Checking, Flagstar Elite Checking, Flagstar Student Checking, Flagstar Military Checking, and Flagstar One Checking, but Flagstar Bank employees and Flagstar Private Bank clients are not eligible to participate in the Flagstar Referral Program.

The bonus Visa Rewards Cards will be issued within 4-6 weeks after the completion of all requirements and may be reported as income to the IRS.

If you are a Flagstar Bank customer, please feel free to share your personal experiences along with your referral links in the below comments, so that everybody can take advantage of these cash bonuses from Flagstar Bank.