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.
Using Flagstar's online site was horrible. Complicated system for establishing the account, and then everytime I wanted to login more complicated steps. Finally was able to move money from checking account to Flagstar online account. When I saw the $25 monthly account charge I wanted to close my Flagstar account but the only way to get my money back into my checking account was via wiretransfer and another $25 fee. So I can transfer money in but not out? Between all the fees I lost $65 on $1,000. And their customer service was also horrible. Flagstar should take a look an how Captial One 360 conducts their online banking.
Applied for a delayed financing mortgage. We met all the requirements and after 3 weeks of constant questions from underwriting. At the last minute after answering all their questions promptly, they informed us that they would not adhere to the guidelines for the delayed finance program. The reason was that I didn't pay enough for the home and the appraisal came in to high. I dumped 30,000 of my own money into rehab the house.That's why the appraisal came in high. The funny thing is they had all the numbers 3 weeks earlier when they gave me the conditional approval based on those numbers. My mortgage broker kept asking them to just give us all the questions at once so that we could close. They just kept asking questions until there were no more and they were backed into a corner. Most unprofessional conduct I have ever seen.We were on a time limit and they ran the clock down and offered me a more expensive product at the last minute. Learned my lesson, ask the bank that will be doing the underwriting in advance, if it is Flagstar, keep looking. I will never do business with Flagstar and I warn everyone I meet. I am sorry the scale here doesn't allow for zeros.