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Flagstar Student Checking

A smart way for college students to start their journey to financial independence.

Student checking made simple

College life can be tricky, so you need a checking account that keeps things simple. With Student Checking, you can use Online and Mobile Banking1 to check your account balance, set up payments so your bills are never late, and get alerts to keep yourself from overspending.

Requirements and fees

  • No monthly service charge for college students 18 years of age or older
  • $1 minimum opening deposit
  • No minimum balance requirement

Visit a branch
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Secure your account with Debit Card Controls and Account Alerts

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No monthly fees

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Just $1 to open

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Flagstar Visa® Debit Card2

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Free access to 56,000+ Flagstar ATMs3 and over 400 branches

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Get peace of mind with overdraft options

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Online and Mobile Banking,1 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
  • No monthly service charge for college students 18 years of age or older
  • No minimum balance requirement

Maximize your student checking experience

Every Flagstar checking account comes with easy ways to manage and
move your money.

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Flagstar Visa® Debit Card2

A secure, convenient way to pay wherever Visa is accepted—which is practically everywhere.
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Account Alerts

Stay in the know with transaction alerts, payment reminders, and more.
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Debit Card Controls

Freeze your card, set spending limits, and stay in control.
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Mobile Check Deposit5

Sign the back, snap a pic, and send. It’s that easy.
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Over 400 Branches and Free Access to 56,000+ ATMs3

Find the closest branch or an ATM in the Allpoint or Presto global network.
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Send Money with Zelle®

All you need is the recipient’s email or U.S. mobile number.

Bank on the go with Mobile Banking1

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

Learn more
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FAQs for Flagstar Student 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.

Flagstar Student Checking is a checking account with no monthly fees, and it takes just $1 to open. It’s designed to help students 18 and older start managing their money.

Flagstar offers a savings account for kids and a checking account for students 18 and older.

 

Although you can’t open either student bank account online, stop by your local branch, and we’ll walk you through the steps.

When you open a Flagstar Student Checking account, be sure to bring $1 or more for your opening deposit and the following:

  • Name
  • Address
  • Date of birth
  • Social Security number or other identification number
  • Valid identification (such as driver's license, state ID, or passport)

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

 

Flagstar does not currently offer student loans. For information on federal loans, visit the Department of Education website or contact your school’s financial aid office.

Checking and savings accounts serve different purposes, so it’s hard to say whether one is better.

 

Your checking account is for everyday spending and paying bills. Your savings account is the place to keep funds for emergencies, large purchases, goals, and life’s surprises. The idea is to keep your savings separate so you’re not tempted to spend it. Plus, your savings account can earn interest. 

You can keep your Flagstar Student Checking account open while you attend college or graduate school.

Apply for a college 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.

You may also be interested in:

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Earn 4.20% APY7 with Flagstar Performance Savings

Grow your money with a great savings rate.
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Earn up to 4.15% APY8 with a CD

Explore our wide range of CD account terms that can help you earn more interest.
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Online and Mobile Banking

A convenient way to view transactions, schedule payments, send money with Zelle®, and more. 

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.

1Not all devices supported. Available for eligible personal and business deposit account customers only.

2This debit card is issued by Flagstar Bank pursuant to a license from Visa U.S.A. Inc.

3Currency conversion fee may apply to transactions outside the U.S.

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 1/17/2025. 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.

8Annual Percentage Yield (APY). 4.10% APY is accurate as of 1/17/2025 and available as a 13-month term. 4.15% APY is accurate as of 1/17/2025 and available as a 7-month term. 4.00% APY is accurate as of 1/17/2025 and available as a 24-month term. Fees could reduce earnings. Withdrawals may result in imposition of applicable early withdrawal penalties. $500 minimum opening deposit required. Maximum deposit is $10 million. 'New Money' is defined as funds that are not currently deposited in any account at Flagstar Bank. Not available for public units or Business CDs. Certain restrictions, including area restrictions, may apply. Offer subject to change or cancellation at any time without notice. Must present offer at account opening. Limited-time offer. Important information will be provided to you in the disclosures you receive during the account opening process. Please contact your local branch for more information.

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