Personal checking accounts

After meeting the cash bonus requirements, you will receive either a $300 credit into your Flagstar Ready Checking account or a $500 credit into your Flagstar Elite Checking account as a bonus 91-104 days after account opening.

A checking account is a bank account for everyday spending and transactions like paying bills, sending money to family and friends, using a debit card, and receiving paychecks through direct deposit. Most checking accounts include online and mobile banking.

Visit our Understanding Checking Accounts page to learn more about how checking accounts work. 

Flagstar checking accounts include:

• Flagstar Ready Checking
• Flagstar Elite Checking
• Flagstar One Checking

FDIC insurance protects your money (up to $250,000) in insured U.S. banks. It covers accounts like checking, savings, and CDs.

Flagstar is an FDIC-insured bank, which means customer deposits are insured up to at least $250,000 per depositor for each deposit category.³

There are two common fees that bank's may charge related to checking accounts. They are monthly account fees and/or ATM fees.

A monthly account fee is a fee banks may apply to your account each month. It can often be waived by meeting certain requirements, for example, maintaining a specific balance or enrolling in services such as e-statements.

An ATM fee is a fee for using an ATM outside your bank’s network. Either the owner of the ATM, or your bank, or both, may charge a fee.

Here is how Flagstar handles monthly account fees on our checking accounts:

• Flagstar Ready Checking: $10 monthly service fee reduced to $5 with any ONE of the following or fully waived with any TWO of the following: Enroll in electronic statements; $500 or more in total direct deposits (ACH credits) each statement cycle; $1,000 or more average balance each statement cycle; primary account holder is 24 years old or younger⁹
• 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

Flagstar customers have free access to 56,000+ ATMs in the AllPoint and Presto global networks², as well as over 300 branches.

Most checking accounts include online and mobile banking.  Common features within online and mobile banking include the ability to check balances, transfer money, pay people or bills online, and deposit checks using a mobile device.

Flagstar checking accounts include both Online Banking and a Mobile App. Features include:

• Track account activity
• Sending money with Zelle^®
• Online Bill Pay
• Internal and external transfers
• Account Alerts
• Debit Card Controls
• Money Center
• Round Up with Flagstar^®
• My Credit Score
• Mobile check deposit (Mobile App only)⁷

A debit card is connected to your checking account and allows you to make purchases or withdraw cash directly from your account. Unlike a credit card, it only uses the money you already have.

All Flagstar checking accounts come with a Flagstar Visa^® Debit Card¹.