What does a student need to open a checking account?

To open a Flagstar Ready Checking account online or at a branch, you need $50 for the initial deposit, plus the following: Name Address Date of birth Social Security number or other identification number

Do all checking accounts have fees?

Here’s how we handle checking account fees: Flagstar Ready Checking: $3 monthly maintenance fee waived by enrolling in electronic statements OR $500 or more in total direct deposits (ACH credits) each statement cycle OR primary account holder is 24 years old or youngerx 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 One Checking: $5 monthly service charge

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CHECKING ACCOUNTS FOR STUDENTS

Checking designed for students and young adults

Whether you're heading to college, managing your first paycheck, or learning to budget, Flagstar Ready Checking gives you flexible, everyday banking.

Open online securely with just $50

Student-friendly fee waiver options

Spend worry-free with a Flagstar Visa^® Debit Card¹

Open Ready Checking →

Apply in minutes | FDIC Insured²

Open Ready Checking →

What makes Flagstar Ready Checking a smart choice for a student checking account?

Simple everyday banking

Manage spending, receive direct deposits, and access your money when you need it.

Bank wherever life takes you

Send money to friends, deposit checks from your phone, and pay bills online for free.

Built for students

Primary account holders age 24 and under qualify to reduce the monthly fee.

Everything students need to manage their money

Convenient digital banking tools for everyday student banking.

Flagstar Visa^® Debit Card¹

Spend securely anywhere with your Flagstar Visa^® Debit Card¹

Online Banking and Mobile App

Check balances, monitor your credit, and manage all your accounts in one place with Online and Mobile Banking³

Zelle^® and Online Bill Pay

Send money in minutes with Zelle^® and pay bills online for free

Mobile Check Deposit⁴

Deposit checks quickly and securely using your smartphone

Round up with Flagstar^™

Round up debit card purchases and grow your savings effortlessly

Free ATM Access Nationwide⁵

Surcharge-free withdrawals at 56,000+ Flagstar ATMs⁵ and over 300 branches

4.7 / 5 App Store rating as of 8/1/2026

Avoid the Ready Checking $10 monthly fee

Students or young adults 24 and under already qualify for one requirement to lower the fee to $5. The fee is waived entirely when one additional requirement is met.

Direct deposit

Total direct deposits (or ACH credits) of
$500 or more per statement cycle

Go paperless

Enroll in Online or Mobile Banking and
sign up for e-Statements

Keep at least $1,000 in the account

An average daily balance of $1,000 or more each statement cycle

Student checking FAQs

Flagstar Ready Checking has the essentials for students who are starting to manage their own money, with a reduced monthly fee for account holders who are age 24 or younger.

You can open a Flagstar Ready Checking account online if you’re 18 or older.

Flagstar also offers a savings account for kids. Although you can’t open the kids savings account online, stop by your local branch, and we’ll walk you through the steps.

To open a Flagstar Ready Checking account online or at a branch, you need $50 for the initial deposit, plus the following:

Name
Address
Date of birth
Social Security number or other identification number

Here’s how we handle checking account fees:

Flagstar Ready Checking: $3 monthly maintenance fee waived by enrolling in electronic statements OR $500 or more in total direct deposits (ACH credits) each statement cycle OR primary account holder is 24 years old or younger⁶
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 One Checking: $5 monthly service charge

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.

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An older man and a young boy smiling as they cook together at a stovetop in a sunlit home kitchen, stirring food in a pan with steam rising.

Earn 3.75% APY⁷ for 6 months

Get more from your savings with a new Flagstar Ready Savings account.

Flagstar Ready Checking

Simple, flexible checking designed for everyday banking.

Image of a person sitting with a laptop computer

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.

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

²Visit fdic.gov for more information about FDIC insurance coverage.

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

⁴Not 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.

⁵Currency conversion fee may apply to transactions outside the U.S.

⁶When the primary account owner reaches 25 years old, age can no longer be used to avoid the monthly service fee.

3.75% APY Flagstar Ready Savings – Promotional Rate Disclosure

⁷Annual Percentage Yield (APY) is accurate as of 8/26/2026. A promotional annual percentage yield of 3.75% is available on balances greater than or equal to $10,000 for the first 180 days after account opening. Balances at or below $9,999.99 do not qualify for this promotional rate and are subject to the current non-promotional interest rate applicable to this account type. At the end of the 180-day promotional period, the interest rate and APY will revert to the then-posted non-promotional rate(s) applicable to this account type. The interest rate(s) and annual percentage yield(s) are variable and may change at any time before or after the account is opened. To qualify, you must be a new personal savings client of Flagstar Bank and open a Flagstar Ready Savings account. You must make an initial minimum opening deposit of at least $1.00. To qualify for the promotional rate, you must deposit additional funds, to maintain a balance greater than or equal to $10,000 is required and must be "new money," which is defined as money that is not currently on deposit in any Flagstar Bank account; money moved from any Flagstar Bank affiliate or subsidiary account or funded from a Flagstar/affiliate loan or line of credit does not qualify. For purposes of this offer, funds from maturing certificate of deposit accounts held at Flagstar Bank will be considered eligible. The account must remain open for the full 180-day promotional period.

This offer is limited to one promotion per household. If any signer on this account has previously received a savings promotion from Flagstar Bank, you are ineligible for this offer. This offer cannot be combined with any other offers or promotions. An early account closure fee may be imposed for accounts closed within 180 days. Offer subject to change or cancellation at any time without notice. Receiving this offer does not guarantee eligibility. All account applications are subject to our normal approval process. Personal accounts only. Area restrictions may apply.

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

Investment Management^*

Before you go

Checking designed for students and young adults