Flagstar Bank Simply Checking Reviews (Jan. 2021) | Checking Accounts

Highlights
Monthly Fee	$0
ATM Fee: Out-of-Network	$2.50
Minimum Balance to Avoid Monthly Fee	N/A
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 maintenance fee.
$50 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
No ATM fees. Flagstar Bank Simply Checking does not charge fees on ATM transactions.
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	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 Initial Deposit	$50

What fees does Flagstar Bank Simply Checking charge?

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

Flagstar Bank Simply Checking Fees
Description
Monthly Fee	$0
Paper Statement Fee	N/A
ATM Fee: In-Network	$0
ATM Fee: Out-of-Network	$2.50
NSF Fee	$36
Overdraft Protection Fee (per transfer)	$10
Overdraft Item Fee	$36
Early Account Closure	N/A
Returned Deposit Fee (Domestic)	$12
Debit Card Replacement Fee	N/A
Bank Teller Fee	N/A
Check Cashing Fee	N/A
Online Bill Pay Fee	$0
Stop Payment Fee	$36
Check Image Service	N/A
Check Copy	N/A
Foreign Transaction Fee (Debit Card)	3%
Wire Transfer Fee - Domestic (Outgoing)	$30
Wire Transfer Fee - International (Outgoing)	N/A
Wire Transfer Fee - International (Incoming)	N/A
Returned Deposit Fee (International)	N/A
Wire Transfer Fee - Domestic (Incoming)	$10
ATM Reimbursement Monthly Limit	N/A

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 Bill Pay - 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. This includes depositing checks in your account with your smartphone.
Nationwide ATM network - Conveniently transact at a nearby ATM.

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