Federal Stimulus Plan

Here’s how payments will be distributed:

Direct deposit (based on past tax refunds) – If you received your 2019 or 2020 tax refund by direct deposit, your economic impact payment will be deposited into the same bank account. While a pending transaction may appear in your account earlier, the funds will arrive at Flagstar and will be available as early as the week of March 15.

Paper check – If you receive a paper check in the mail, Flagstar provides several options for customers to deposit those payments into their account, including:

Convenient mobile deposits through Flagstar Mobile. Standard mobile deposit limits apply.
Deposit your check at the nearest branch. Visit our branch locator to find a branch near you.
Deposit your check at one of our Flagstar ATM locations.

Visit the IRS economic impact payment information center to learn about eligibility and for full details regarding the plan.

Protect your account from stimulus check scams

Since the economic stimulus bills passed in 2020 and the most recent bill passed in March 2021, trillions of dollars have been flowing to American workers and business owners. Criminals around the world are doing everything they can to funnel some of that money into their own accounts. The IRS recently issued a warning about scams related to COVID-19 relief, so we wanted to share some important things to remember to protect your account and your identity.

What you need to know to protect yourself

Neither Flagstar nor the IRS will ask for your account number, username, or password. We have your account information already, and we never ask customers for their username or password.
We will not email, text, or private message you on social media about your check either. Flagstar never asks for account information this way because this type of communication is not secure.
There are only two reasons we may try to get in touch with you. Flagstar may contact you if the IRS tries to deposit money into a closed account or if you have a negative balance on your account.
Say no to anyone who offers to pay you to cash their check. This is a common trick to gain access to—and drain—your bank account. Flagstar can open an account for anyone with a stimulus check, and they can have same-day access to their funds. They don’t need to go through you.
There is no processing fee to receive your check faster. The checks are sent by the IRS using the process described above.
Avoid clicking links in emails. If you receive an email that appears to be from Flagstar, tap the From name to make sure @flagstar.com is part of the email address. Forward suspicious emails to abuse@flagstar.com.
Protect your computer. Finally, make sure your computer has antivirus software and the latest update for your computer system and web browser software.

Flagstar is here for you.

If you notice any unauthorized activity on your Flagstar accounts, report it immediately by calling Customer Service at (888) 248-6423.