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Budgeting and Saving

Save the Easy Way With Automatic Tranfers

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Boost your savings with automatic transfers. Set them up to move money from your checking account to your savings account every week, month, or whatever frequency works best for you. Once the money is out of your checking account, you’ll be less tempted to spend it. Plus, there are no fees for standard transfers from your Flagstar checking account to your Flagstar savings account.1

 

You can set everything up through online banking or Flagstar Mobile Banking. Just follow the steps below.

 

Online banking

Automatic transfers between two Flagstar accounts:

  • Sign in to your account.
  • Select Transfers at the top of the screen.
  • On the next screen, select the From and To accounts and enter the Amount you want to transfer.
  • Next, select Make Recurring and choose the Frequency of your transfers (weekly, monthly, quarterly, etc.).
  • Select the First Transfer Date.
  • Choose Fixed to make a specific number of transfers or Unlimited to keep them going. (You can stop automatic transfers anytime.)
  • Write a good Memo line that will inspire you, like “Our wedding,” “Vegas, baby!” or “You are so going to make it happen.”
  • Click the Review button, double-check that everything looks good, then click Confirm. Nice job!

Automatic transfers between your Flagstar checking account and a savings account outside of Flagstar:

Before you begin, make sure you have the routing number and account number for your savings account at the other financial institution.

A note about timing: There are two ways to verify your outside account. You can enter your login credentials for immediate verification or confirm trial deposits in the account, which takes 2-3 days.

  • Sign in to your account.
  • Select Transfers at the top of the screen.
  • Select External Account Transfer, then Continue.
  • On the next screen, select Add a New Account, then enter the routing and account numbers for your savings account.
  • Now, you can choose to verify your outside account with your login credentials (immediate) or trial deposits (2-3 days). Once the account is verified, you can continue setting up your automatic transfers.
  • Select the From and To accounts, the amount to transfer, and the date to do it. You’ll also choose the Frequency and Duration.
  • Write a good Memo line that will inspire you, like “My amazing new car,” “Peace of mind fund,” or “Saver of the century!”
  • Click the Review button, double-check that everything looks good, then click Confirm. Way to go!
Mobile banking

Automatic transfers between two Flagstar accounts:

  • Sign in to Flagstar Mobile Banking.
  • Tap Transfer & Pay at the bottom of the screen.
  • Then, tap Make an Internal Transfer.
  • Fill in the details about your transfer, including frequency (weekly, monthly, quarterly, etc.) and start date. Then tap Continue.
  • Review your selections, then select Edit for corrections or Make Transfer to complete the process. Well done!

Automatic transfers between your Flagstar checking account and a savings account outside of Flagstar:

Before you begin, make sure you have the routing number and account number for your savings account at the other financial institution.

A note about timing: There are two ways to verify your outside account. You can enter your login credentials for immediate verification or confirm trial deposits in the account, which takes 2-3 days.

  • Sign in to Flagstar Mobile Banking.
  • Tap Transfer & Pay at the bottom of the screen.
  • Then, tap Make an Internal Transfer.
  • On the next screen, select Add a New Account, then enter the routing and account numbers for your external deposit account.
  • Now, you can choose to verify the account using your login credentials (immediate) or trial deposits (2-3 days). After the account is verified, you can continue setting up your automatic transfers.
  • Select the From and To accounts, the amount to transfer, and the date to do it. You’ll also choose the Frequency and Duration.
  • Review your selections, then select Edit for corrections or Make Transfer to complete the process.

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1Please see the complete Disclosure Guide for additional details.