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  Flagstar Bank Simply Checking

Flagstar Bank Simply Checking

in Checking Accounts from Flagstar Bank · Member fdic

Unaffiliated

Flagstar Bank Simply Checking

Unaffiliated

in Checking Accounts from Flagstar Bank · Member FDIC

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Highlights
Monthly Fee $0
ATM Fee: Out-of-Network $2.50
Minimum Balance to Avoid Monthly Fee $0
APY (Annual Percentage Yield) 0%

Flagstar Bank Simply Checking Review

Flagstar Bank Simply Checking is offered by Flagstar Bank, a bank founded in 1987 and based in Troy, MI. Flagstar Bank Simply Checking is available in 5 states across the USA.

Key Takeaways
  • 0% APY. As with most checking accounts, Flagstar Bank Simply Checking does not pay interest.
  • $0 monthly fee. This account does not charge a monthly service fee.
  • Free bill pay. Pay your bills to practically anyone in the United States through Flagstar Bank.
  • Hard credit pull. Flagstar Bank may require a hard pull on your credit report to open a checking account.
Flagstar Bank Simply Checking Pros & Cons
Pros Cons
  • Visa debit card with zero liability protection and secure chip card technology.
  • Free access to over 56,000 Allpoint and Presto ATMs worldwide.
  • Customers can budget, track expenses and review spending with MyWallet.
  • Access to physical branches.
  • Free debit card
  • Access to a nationwide network of ATMs.
  • Non interest bearing checking account.
  • No signup bonus.
  • Does not earn interest
  • Only available in 5 states.
  • Higher than average wire transfer fees.
  • Charges a higher than average fee on out-of-network ATM transactions.
Flagstar Bank Simply Checking FAQ

Are checking accounts from Flagstar Bank federally insured?

Yes, your Flagstar Bank checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Flagstar Bank Simply Checking offer?

Flagstar Bank Simply Checking is not an interest-bearing account.

What are the account minimums for Flagstar Bank Simply Checking?

Flagstar Bank Simply Checking requires a minimum initial deposit of $50 to open an account.

Flagstar Bank Simply Checking Account Minimums
Description Amount
Minimum Opening Deposit $50

What fees does Flagstar Bank Simply Checking charge?

The good news is that this account does not have a monthly service fee.

Flagstar Bank Simply Checking Fees
Description
ATM Fee: In-Network $0
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0
NSF Fee $36
Online Bill Pay Fee $0
Overdraft Item Fee $36
Overdraft Protection Fee (per transfer) $10
Returned Deposit Fee (Domestic) $12
Stop Payment Fee $36
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $30
ATM Fee: Out-of-Network $2.50

Does Flagstar Bank Simply Checking charge overdraft fees?

Yes, Flagstar Bank Simply Checking charges a $36 fee for every overdraft fee.

Flagstar Bank Simply Checking offers overdraft protection at a cost of $10 per transaction.

What features and perks does Flagstar Bank Simply Checking offer?

This account includes the following features:

  • Fraud monitoring - Flagstar Bank Simply Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Flagstar Bank Simply Checking allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
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Contact

  • Headquarters
  •   5151 Corporate Dr
    Troy, MI 48098
  •   Visit Site

Hours of Operation

  • Sunday Closed
  • Monday 8:30am - 5:30pm
  • Tuesday 8:30am - 5:30pm
  • Wednesday 8:30am - 5:30pm
  • Thursday 8:30am - 5:30pm
  • Friday 8:30am - 5:30pm
  • Saturday Closed

Other Services by Flagstar Bank

Availability

  Available in 5 states
  • California
  • Indiana
  • Michigan
  • Ohio
  • Wisconsin

Feature Breakdown

APY Minimum Balance $0
Minimum Opening Deposit Starting at $50
Minimum Balance to Avoid Monthly Fee $0
ATM Fee: In-Network $0
Monthly Fee $0
Online Bill Pay Fee $0
Foreign Transaction Fee (Debit Card) 3%
NSF Fee $36
Overdraft Item Fee $36
Overdraft Protection Fee (per transfer) $10
Returned Deposit Fee (Domestic) $12
Stop Payment Fee $36
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $30
ATM Fee: Out-of-Network $2.50
Bank Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Debit Card
  • Branch Access
  • FDIC Member
  • Check Writing

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