Thanks OP. $250/mo DD is kinda high, so I am on the fence about this one. Plus sounds like ACH might not work. How can we make ACH pass off as a DD?

americano said:Thanks OP. $250/mo DD is kinda high, so I am on the fence about this one. Plus sounds like ACH might not work. How can we make ACH pass off as a DD?
I will just use the bill payer service to pay my monthly credit card bill with the $250+ each month.

Sorry how does this one work as an ACH direct deposit? I am having hard time now to understand this method.

Credituser said:americano said:Thanks OP. $250/mo DD is kinda high, so I am on the fence about this one. Plus sounds like ACH might not work. How can we make ACH pass off as a DD?
I will just use the bill payer service to pay my monthly credit card bill with the $250+ each month.

Did you apply for any other products at the same time e.g. a debit card or overdraft protection?

krk77 said:I had opened in Branch.

Credituser said:krk77 said:yes it was TU hard pull. Also they have $100 account opening bonus most of the time (I saw it several times in the branch, most of the time doesn't require DD as well)

Edit: Spelling
Did you open this in a branch or online? I will continue to monitor my credit report to see if it shows up as a hard pull.

yes I got Debit card as well as default overdraft protection. It looks like it is more to do with Branch opening than the products I got.

DreamKrusher said:Did you apply for any other products at the same time e.g. a debit card or overdraft protection?

krk77 said:I had opened in Branch.

Credituser said:krk77 said:yes it was TU hard pull. Also they have $100 account opening bonus most of the time (I saw it several times in the branch, most of the time doesn't require DD as well)

Edit: Spelling
Did you open this in a branch or online? I will continue to monitor my credit report to see if it shows up as a hard pull.

no. I was in branch. teller told me that opening account required pulling credit report. neither OD or debit card was important to me (I was opening account for $100 checking bonus as well as CD). He just offered OD at the end of account opening process and I just had to sign some paper.

Flagstar matches CD rates from other banks which do business in the same county (you have to be premier member, DD or 10 bank transactions will put you in that level)

DreamKrusher said:I expect the OD account triggered the hard pull.

krk77 said:yes I got Debit card as well as default overdraft protection. It looks like it is more to do with Branch opening than the products I got.

DreamKrusher said:Did you apply for any other products at the same time e.g. a debit card or overdraft protection?

krk77 said:I had opened in Branch.

Credituser said:krk77 said:yes it was TU hard pull. Also they have $100 account opening bonus most of the time (I saw it several times in the branch, most of the time doesn't require DD as well)

Edit: Spelling
Did you open this in a branch or online? I will continue to monitor my credit report to see if it shows up as a hard pull.

Credituser said:LINK

EDIT: Soft pull assumed - no hard pull appearing 3 days after application.

Terms:

$100 deposit available for new checking account customers only (no existing Flagstar checking account). For a limited time, open a new personal checking account with an automatic, recurring direct deposit of income of at least $250 per month, excluding interest deposits, and we’ll deposit $100 into your account within 30 days after the first recurring direct deposit takes place. Minimum opening deposit is $50. Direct deposit must be established within first 60 days of account opening. All accounts must remain open and active for a minimum of six months. If checking account is closed within the first six months, Flagstar reserves the right to reclaim the $100 deposit. Contact a Flagstar representative for more details. Flagstar will issue a 1099 for the $100. Offer not good in conjunction with any other coupons or checking account offers. Some restrictions apply. Limit one $100 deposit per customer per account. Offer subject to change or cancellation at any time without notice.

When you enter your zip code on the linked page it may say you are out of their market area but still qualify for the $100 bonus. Use the promotion code on your application (the one given to me was "M7"). I just opened the account this week, and do not yet have an account number though my initial ACH deposit has pulled from my supply bank. I will update if/when the bonus posts.

Props to ibankdesign.com for reporting this one.

Hello, Credituser, Can I set up recurring direct deposit from my online bank account for that $250 instead of payroll or salary? Thank you.

Credituser said:sliu3 said:

Hello, Credituser, Can I set up recurring direct deposit from my online bank account for that $250 instead of payroll or salary? Thank you.
Per Crazykole5's post on page 1 of this thread, I don't believe an ACH push will work.

I guess some people just can't read...it is only 2 pages lol.

Edit: I edited the quick summary...hopefully that will help...

how are you guys setting up direct deposit? my work requires a voided check. does flagstar send out free checks?

Squeezer99 said:how are you guys setting up direct deposit? my work requires a voided check. does flagstar send out free checks?

If you have a local branch, you can tell them you need one and they should be able to give you something that works instead of a check (I got one from National City Bank when I did their offer)...can't seem to remember the name of it...