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FlagStar Bank Customer Review

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rwhelan's Profile Image

1 out of 5 marks

Reviewed by rwhelan

Jan 2nd 2013

Simply awful

The bank utilizes a process that is patently unfair to the consumer. When a hold is placed on your card (not the actual payment transfer) they deduct overdraft fees in anticipation of an overdraft. They also will stack all of the deductions before any deposits.

This has occurred repeatedly with an automated transfer from one account to another ... while I have the deposit set as a recurring item ( one would expect that is hits my balance at midnight) they process at 9.30 in the morning after all the pending debits , causing overdrafts.

They have refused to credit all of the overdraft charges that cascade and snowball.

I refuse to deal any longer with thieves.

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Other FlagStar Bank Reviews

keithsipos's Profile Image

Reviewed by keithsipos

Aug 26th 2014

1 out of 5 marks

What groups oversee banks like this?

With the banking industry permitting a bank like this to continue to do business with the list of reviews posted for this bank alone, without triggered oversight, is an indictment to the regulatory institutions that put bandages on problems after they've failed. Consider how many others haven't bothered to post, yet experience the same scams. There is no confidence in companies that are allowed to continue to operate like this one. They're in the business of being a casino taking in money from home loans in the millions with profits with out being penalized. How long will it take them to penalize you if you don't do the procedures they dictate?

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tdssarah33's Profile Image

Reviewed by tdssarah33

Jan 5th 2014

1 out of 5 marks

Flagstar screwed us.

Like many people, a year or so ago our family experienced a decrease in income. Thank goodness we had paid our mortgage on time for 9 years. So, under the fabulous HARP program - designed to help homeowners in stress to keep their homes - Flagstar began the refinance process with us. THEY LED US ON FOR MONTHS, knowing we desperately wanted to keep our home. Basically they would tell us they had everything ready, a low interest rate and a clear to close, but then they would find an excuse to drag it out another month, MONTH AFTER MONTH AFTER MONTH AFTER MONTH. After riding this emotional roller coaster ride, they finally bled us out, and we had no other option than to let the house go. This is a very DISHONEST bank, I highly recommend you steer clear of them.

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