Switch Accounts to Flagstar

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When you decide to make the switch to Flagstar, we'll help make the transition easy

With our switch kit, you will be able to close your existing accounts, change your direct deposits, and more.

Open your Flagstar account

Open your new Flagstar account at any of our convenient branch locations.

Start the switch and balance your account

With Flagstar's easy-to-use forms, simply fill in the information about deposits, bill payments, transfers, and withdrawals from your current account with the Start the Switch form. Use the Balance Your Account form to calculate how much money you will need to leave in your old account to cover any outstanding transactions.

Set up direct deposit

Inform your employer if you wish to have your paycheck deposited directly into your new Flagstar account. Use our direct deposit form to notify your employer about a new banking account. For direct deposit of your social security benefits, visit treasury.gov to print the official direct deposit form. Automatic deposits also can be created for income received from other sources, such as retirement, alimony, or investment dividends.

Establish bill payments

Why spend money on postage or worry about late payments? With our easy-to-use automatic deduction form, you can set up recurring withdrawals from your new Flagstar account. This service also is available through your online banking account.

Track and close your old account

After you notify banks, vendors, and employers that your old account is closing, it normally takes six to eight weeks to shift transactions to your new account. During this time, use the Track Your Account form to track all transactions that you have switched to your new Flagstar account.

Use the Close Your Old Account form to let your old bank know you're closing your account. Be sure to wait until all outstanding transactions have cleared from your old account before filling in the form.

Find the right Flagstar account for you.

Checking Accounts

Explore our personal checking account options to find the right fit for you.

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Earn 3.75% APY¹ for 6 months

Growth, access, and certainty with a new Flagstar Ready Savings account.

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Earn up to 3.80% APY² with a CD

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

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.

Flagstar Ready Savings

¹Annual Percentage Yield (APY) is accurate as of 7/9/2026. 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. An initial minimum opening deposit of at least $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. Flagstar Bank employees are not eligible for this offer. 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.

²Annual Percentage Yield (APY). 3.80% APY is accurate as of 7/9/2026 and available as a 12-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.