[AZ, CA, FL, IN, MI, NJ, NY, OH, WI] Flagstar Bank $1,000 Business Checking Bonus

Offer at a glance

• Maximum bonus amount: $1,000
• Availability: AZ, CA, FL, IN, MI, NJ, NY, OH, WI
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees:
• Early account termination fee:
• Household limit:
• Expiration date: June 30, 2025

The Offer

Direct link to offer

• Flagstar Bank is offering a $1,000 bonus when you open Business Solutions Checking or Business Solutions Checking with Interest in branch and Maintain an average daily balance of $25,000 or more for the first 90 days

The Fine Print

• You must be a new business checking customer of Flagstar Bank and open a Business Solutions Checking or Business Solutions Checking with Interest account.
• Minimum $100 deposit to open a checking account.
• You will receive a $1,000 credit into this account as a bonus 91-104 days after making an initial deposit to the new account (account funding), subject to the following condition: Within the first 90 days of the account funding (bonus period), you must maintain an average daily balance of $25,000 or more. Additionally, (i) this offer is limited to one business checking bonus per tax identification number, (ii) Business Solutions Checking or Business Solutions Checking with Interest account must be funded within 90 days of the account opening date, (iii) consumer accounts do not qualify for this business checking offer, (iv) early account closure fee and reclamation of bonus may be imposed for account closed within 180 days, and (v) Flagstar employees are not eligible for the offer.
• If you have been paid a business checking cash bonus previously, you are ineligible to receive this cash bonus this offer.
• If multiple accounts are opened with the same account holder, only one account may be eligible for the business cash bonus.
• For tax purposes, you will receive an IRS form from Flagstar. Offer subject to change or cancellation at any time without notice. Receiving this offer does not guarantee your eligibility. All account applications are subject to our normal approval process.
• Area restrictions may apply.
• Offer expires June 30, 2025.
• You must be a new business checking customer of Flagstar Bank and open a Business Solutions Checking or Business Solutions Checking with Interest account.
• Minimum $100 deposit to open a checking account.
• You will receive a $1,000 credit into this account as a bonus 91-104 days after making an initial deposit to the new account (account funding), subject to the following condition: Within the first 90 days of the account funding (bonus period), you must maintain an average daily balance of $25,000 or more.
• Additionally, (i) this offer is limited to one business checking bonus per tax identification number, (ii) Business Solutions Checking or Business Solutions Checking with Interest account must be funded within 90 days of the account opening date, (iii) consumer accounts do not qualify for this business checking offer, (iv) early account closure fee and reclamation of bonus may be imposed for account closed within 180 days, and (v) Flagstar employees are not eligible for the offer. If you have been paid a business checking cash bonus previously, you are ineligible to receive this cash bonus this offer.
• If multiple accounts are opened with the same account holder, only one account may be eligible for the business cash bonus.
• For tax purposes, you will receive an IRS form from Flagstar. Offer subject to change or cancellation at any time without notice. Receiving this offer does not guarantee your eligibility. All account applications are subject to our normal approval process. Area restrictions may apply.
• Offer expires June 30, 2025.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

• Business solutions: No monthly fee with average daily balance in checking of $3,000 or $10,000 in combined eligible linked accounts; $10 monthly fee if balance is $1,000 – $2,999.99; $15 monthly fee if balance is $0 – $999.99
• Business solutions with interest: No monthly fee with average daily balance in checking of $3,000 or $15,000 in combined eligible linked accounts; $10 monthly fee if balance is $1,000 – $2,999.99; $15 monthly fee if balance is $0 – $999.99

Early Account Termination Fee

Bonus is forfeit if account is closed within 180 days

Our Verdict

Unclear what interest rate the business solutions account actually earns. If you put the $25,000 in there for 90 days you’d earn 16% annualized so the deal is worth doing. Just keep in mind you’d need to keep another $3,000 in there for another 90 days to keep the account fee free and avoid the EATF. We will add this to our list of the best bank account bonuses.

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