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Flagstar One Checking

A low-cost checking account with no overdraft fees. 

Simple, affordable banking

Managing your money is easy with Flagstar One Checking. This checkless checking account lets you ditch the checks, conveniently pay bills, and make purchases with your Flagstar Visa® Debit Card. You can also grow your savings by enrolling in Round Up with Flagstar®. This service rounds up your debit card purchases to the next dollar and puts the difference into your Flagstar savings account.

 

Requirements and fees

  • $1 minimum opening deposit
  • $5 monthly service charge
  • No minimum balance requirement             

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Secure your account with Debit Card Controls and Account Alerts

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No overdraft fees

Icon indicating no paper checks

Checkless account

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Flagstar Visa® Debit Card1

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Free access to 56,000+ Flagstar ATMs2 and over 400 branches

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Online and Mobile Banking,3 with 24/7 free access to your credit score

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FDIC-insured up to at least $250,000 per depositor4


Requirements and fees

  • $1 minimum opening deposit
  • $5 monthly service charge
  • No minimum balance requirement

BankOn certified logo

Certified low-cost checking account

This Bank On certified account meets specific standards around cost, functionality, and consumer safety, making banking accessible to more people in the community.

Bank on the go with Mobile Banking3

Mobile Banking lets you pay bills, move money, deposit checks,5 and much more. Add this easy-to-use app to your Android or iPhone and manage your money on your schedule.6

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FAQs for Flagstar One Checking

Yes! Flagstar is an FDIC-insured bank, which means customer checking account deposits are insured up to at least $250,000 per depositor for each deposit category.

Now that there are multiple ways to pay for things, many people choose to skip checks entirely.

 

Flagstar One Checking is a checkless checking account. Instead of checks, it comes with a Flagstar Visa® Debit Card that you can use for purchases, bills, and whatever you need.

 

The debit card is issued by Flagstar Bank pursuant to a license from Visa U.S.A. Inc.

Overdraft fees depend on the type of account, any optional coverage the person has, and a few other factors. You can find all the details on our Overdraft Protection and Services page.

 

There are no overdraft fees with Flagstar One Checking. 

Here’s how we handle checking account fees:

  • Flagstar Ready Checking: $3 monthly service charge, which you can avoid by enrolling in paperless statements
  • Flagstar Elite Checking: $15 monthly service charge, which you can avoid by maintaining a $25,000 combined monthly average balance in your Flagstar personal deposit accounts. Your linked account(s) must be enrolled in the Flagstar Elite Relationship Program.
  • Flagstar Military Checking: No monthly service charge for active and former military personnel
  • Flagstar Student Checking: No monthly service charge for college students 18 and older
  • Flagstar One Checking: $5 monthly service charge

 

Apply for a low cost checking account today

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Visit a branch

We’ll walk you through it. Stop by the nearest branch to open an account in person.

We reserve the right to change account benefits at any time without notice. Certain restrictions may apply. Please see the complete Disclosure Guide for additional details.

Interest rates are tiered to a maximum amount.

1This debit card is issued by Flagstar Bank pursuant to a license from Visa U.S.A. Inc.

2Currency conversion fee may apply to transactions outside the U.S.

3Not all devices supported. Available for eligible personal and business deposit account customers only.

4Visit fdic.gov for more information about FDIC insurance coverage.

5Not all devices supported. Available for eligible personal and business checking and savings account customers only. Must be an active mobile banking user. Must be a customer for a minimum of two business days. Accounts must be in good standing.

6Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android, Google Play, and the Google Play logo are trademarks of Google Inc.

Flagstar Performance Savings

7Annual Percentage Yield (APY) is accurate as of 2/17/2025. Tier 1 $0 – $9,999.99 features an annual percentage yield of 0.10%. Tier 2 $10,000.00 – $24,999.99 features an annual percentage yield of 0.10%. Tier 3 $25,000.00 – $49,999.99 features an annual percentage yield of 4.20%. Tier 4 $50,000.00 – $99,999.99 features an annual percentage yield of 4.20%. Tier 5 $100,000.00 – $499,999.99 features an annual percentage yield of 4.20%. Tier 6 $500,000.00+ features an annual percentage yield of 4.20%. The interest rate(s) and annual percentage yield(s) are variable and may change at any time before or after the account is opened. Initial minimum opening deposit to earn the higher interest rate on the Flagstar Performance Savings account is $25,000 and must be “new money,” which is defined as money that is not currently on deposit in any Flagstar Bank account (except maturing CDs). Additionally, (i) account must be funded within 90 days of the approval date, and (ii) early account closure fee may be imposed for accounts closed within 180 days. A maintenance service charge of $15 will be imposed every statement cycle if the average daily collected balance in the account is less than $10,000. The maintenance service charge will be waived if you are the tax reported owner on this account and you are an owner on a Flagstar personal checking account. Fees may reduce earnings. Personal accounts only. Limited time offer. Area restrictions may apply. If you are a Private Bank client, please contact your Private Client Group to enroll.

Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.