This promotion is advertised on its website www.flagstar.com. This offer requires new customers to make a monthly direct deposit of a least $250. You have to open a checking account at Flagstar banking centers to get the bonus. You have to make sure that the customer service enter the promotion code HD.

Some key points to get the $100 bonus:

• New checking account customers only
• Minimum opening deposit is $50
• Recurring direct deposit of $250 each month
• $100 will be deposited into your account within 30 days after first direct deposit
• Account must remain open and active for a minimum of 6 months

Fine print:

$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. See your 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.

No expiration date is indicated on the website. Printable flyer of this promotion is available here.

Flagstar Bank’s checking accounts are really great which offer no monthly service fees and free checks. Branches are only in Michigan, Indiana and Georgia.

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The Flagstar Bank is offering up to $500 free gas card for opening a new checking account with direct deposit. However, this is not the offer that you can redeem your $500 gas card all at a time. Instead, you can only get $25 each month and it takes 1 year and 7 months to get the $500 gas cards. Some details about this promotion can be found at www.flagstar.com/gasoffer.

Banking requirements for the $500 gas card:

• Open a primary checking account with an automatic, recurring direct deposit of income of at least $250 per month.
• Direct deposit must be established within first 60 days of account opening to be eligible.
• Minimum opening deposit is $50.
• All accounts must remain open and active for a minimum of six months.
• Offer is limited to new customers only.

How to get the $500 gas card?

As a pointed out, the redemption process takes about 19 months to get the $500 gas cards. Basically, you have to mail your receipts (>$100) to get a $25 gas voucher each month. But it’s still a good offer since you can save $25 on gas each month.

To take advantage of the offer, you have to register at www.freegasward.com which operates the promotion. After completing the registration process, you can print out your fist gas voucher which can be used immediately. Then you have to make a minimum monthly purchase of $100.00 in gasoline each month and mail the original receipts (not photocopies, or receipts collected on the same day) with your redemption voucher to: Free Gas, 14100 Walsingham Rd., Suite 36, Largo, Florida 33774.

You can only select one brand of gasoline and collect the receipts from that brand of gasoline. Receipts from other brand will be voided.

The details of the promotion can also be found at local Flagstar Bank branches.

Flagstar is the largest publicly traded savings bank headquartered in the Midwest United States (Troy, MI). The bank currently operates 171 banking centers (as of September 2008) in Michigan, Indiana and Georgia. The website of this bank is www.flagstar.com.

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