FlagStar Bank

National Bank, flagstar.com

FlagStar Bank logo
B+ MyBankTracker
Rating
MyBankTracker rating based on the following criteria that includes customer reviews, financial health, bank fees and other key factors compared to the other banks.
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About the Bank

Flagstar Bank, headquartered in Troy, Michigan, is a growth-oriented community bank with approximately 170 banking centers in Michigan, Indiana and Georgia. Chartered in 1987 as a federal savings bank, today Flagstar has assets approaching $16 billion.

FlagStar Bank Fees

  • National Average
  • Monthly Inactivity $50 $6
  • Non-Sufficient Fund (Overdraft) $36 $30
  • Stop Payment item $36 $27
  • Return Deposit $12 $13
  • Domestic Wire Transfer (Outbound) $30 $22
  • Domestic Wire Transfer (Inbound) $10 $10
  • Non-Bank ATM $2.50 $1

Locations & Hours

map of local branches and ATMs
Branches
99

We found bank branches & ATMs within miles of .

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Latest Customer Reviews

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  •  
    Reviewed By plcarl Sep 7, 2017

    Nightmare experience with insurance claim

    If you considering this bank for a mortgage just know they are absolutely ridiculous to work with if you have an insurance claim on your home. They require your insurance company to make any checks payable to them and then they will give you the money when they see fit. You have to fill out a mountain of forms (some need to be notarized) and then when the work is completed they expect the contractor to sign a waiver release form even though they have not received payment and then they send an inspector to look at the work before they will release the funds. I will definitely not ever use them again!!

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  •  
    Reviewed By amdgreenlee Aug 20, 2017

    Horrible

    This bank is absolutely horrible. Not only does their website and mobile app go down all the time, which is not only inconvenient and horrible customer service, but bound to be breaking some codes that banks must adhere by.

    Every time I call in to inquire about my account or a question, I am met with rude personnel who refuse to to look into the issue. On a few occasions, I used their mobile app to deposit paychecks and because of THEIR inconsistency, they didn't post in time and put me in the negative. When I tried to recover my money and fees, they refused to help me. They stated I simply did not deposit the check when I know that I did. This is MY hard earned money that they are stealing and squandering.

    DO NOT use this bank. They are scammy and will do anything in their power to take your money and try to justify it. I am now working more than 40 hours a week to make up for my losses. With this being said, I can't get away from this bank soon enough. I wanted to make a post publicly so that others know that their money is NOT safe here.

    I am going to follow up with a formal complaint with the BBB and any other agencies I can. This bank seems quite fraudulent, if you ask me.

    Look elsewhere for a trustworthy bank because Flagstar is not worth your time or energy.

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  •  
    Reviewed By jd27 Sep 30, 2015

    Quick to Charge Fees, with no Explanation or Grace

    I've been banking with them for quite awhile and have had nothing but either a neutral or bad experience with them, no good experiences. They have the worst fees and no grace period on overdrawn accounts to get back to a positive balance. The local branch was no help, I called customer service and they only word they know is "no". The nicest person I was able to talk to was their chat feature on the website and I actually felt like I was getting somewhere. The corporate offices however were kind and explained things, but did not see if how I saw things and didn't help out either. Over all this bank seems to care more about money and less about the customer behind the account. I do not recommend this bank unless you want non stop ridiculous fees.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By plcarl Sep 7, 2017

    Nightmare experience with insurance claim

    If you considering this bank for a mortgage just know they are absolutely ridiculous to work with if you have an insurance claim on your home. They require your insurance company to make any checks payable to them and then they will give you the money when they see fit. You have to fill out a mountain of forms (some need to be notarized) and then when the work is completed they expect the contractor to sign a waiver release form even though they have not received payment and then they send an inspector to look at the work before they will release the funds. I will definitely not ever use them again!!

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By amdgreenlee Aug 20, 2017

    Horrible

    This bank is absolutely horrible. Not only does their website and mobile app go down all the time, which is not only inconvenient and horrible customer service, but bound to be breaking some codes that banks must adhere by.

    Every time I call in to inquire about my account or a question, I am met with rude personnel who refuse to to look into the issue. On a few occasions, I used their mobile app to deposit paychecks and because of THEIR inconsistency, they didn't post in time and put me in the negative. When I tried to recover my money and fees, they refused to help me. They stated I simply did not deposit the check when I know that I did. This is MY hard earned money that they are stealing and squandering.

    DO NOT use this bank. They are scammy and will do anything in their power to take your money and try to justify it. I am now working more than 40 hours a week to make up for my losses. With this being said, I can't get away from this bank soon enough. I wanted to make a post publicly so that others know that their money is NOT safe here.

    I am going to follow up with a formal complaint with the BBB and any other agencies I can. This bank seems quite fraudulent, if you ask me.

    Look elsewhere for a trustworthy bank because Flagstar is not worth your time or energy.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By tpersson29 May 5, 2014

    Insurance check for water damage

    I had water in my basement in December of 2013. Since that time I have paid over $14,000 to contractors for repair work that has been done. The insurance company issued a check of $5000 to cover part of the damage done at that time, which needed to be endorsed by FLAGSTAR to deposit the funds. Despite issuing appropriate paperwork detailing the work that has been done, I waited 3 months to get any sort of reimbursement. When the check finally came it was only for half of the original $5000 and it was made out to the contractor. Upon following up with Flagstar they told me that an inspection needs to be done on the property to ensure the work has been done so that the check can be made out to me. I understand the protocols for this madness, but I feel that since there has been appropriate invoices for paid work, contractor licenses, etc. submitted they would have understood that the work has been completed and therefore communicated the appropriate steps at that time. Poor communication and poor customer service.

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  •  
    Reviewed By Rodolfo D. Aug 18, 2012

    Worse banking practices

    I tried to do a mortgage refinancing with this bank June 2012, but after going through the process and almost 2 months later, the loan was denied. Not getting the loan is not the problem but the way the loan was process. First, I was switch from a no cost loan to a loan with a fee of $1,900. Then they required so many documentations, including how I acquired the funds I have on my savings account. I was also asked to closed all my credit cards and lower the coverage on my homeowners insurance. Unusual; even my insurance agent was wondering what kind of mortgage company would asked you to lower home owner's insurance. The worst thing is it takes 2 month just finally find out I did not qualify. Avoid Flagstar if you want to save your sanity, money on appraisal and the trouble of closing all your credit cards and losing whatever reward points you have. If there is a 0 star rating, that's what they deserved.

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  •  
    Reviewed By plcarl Sep 7, 2017

    Nightmare experience with insurance claim

    If you considering this bank for a mortgage just know they are absolutely ridiculous to work with if you have an insurance claim on your home. They require your insurance company to make any checks payable to them and then they will give you the money when they see fit. You have to fill out a mountain of forms (some need to be notarized) and then when the work is completed they expect the contractor to sign a waiver release form even though they have not received payment and then they send an inspector to look at the work before they will release the funds. I will definitely not ever use them again!!

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By Mpalit Sep 11, 2014

    The Worst Bank for Mortgages

    Horrible experience getting a Mortgage. They are just bone lazy and their Underwriters have no idea just harass the customer. I have A++ Credit have one loan with them they preapproved me for a second loan for a Condo for a small amount. They have been sitting on it for 2 months and now it is closing time they are asking for documentation which was provided immediately but still refuse to clear to close. If that is the case then why pre-approve especially someone with the Income assets and good Credit history and an excellent Condo building. The purchaser and the buyer have been put in this really poor situation through no fault of theirs. We were told for the past 10 days the loan would close we are still waiting. Never ever do business with this bank. I am a Commercial Lender if I did this with my loans I would be thrown out of the company.

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  •  
    Reviewed By keithsipos Aug 26, 2014

    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?

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By Mpalit Sep 11, 2014

    The Worst Bank for Mortgages

    Horrible experience getting a Mortgage. They are just bone lazy and their Underwriters have no idea just harass the customer. I have A++ Credit have one loan with them they preapproved me for a second loan for a Condo for a small amount. They have been sitting on it for 2 months and now it is closing time they are asking for documentation which was provided immediately but still refuse to clear to close. If that is the case then why pre-approve especially someone with the Income assets and good Credit history and an excellent Condo building. The purchaser and the buyer have been put in this really poor situation through no fault of theirs. We were told for the past 10 days the loan would close we are still waiting. Never ever do business with this bank. I am a Commercial Lender if I did this with my loans I would be thrown out of the company.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By Alecia Mar 9, 2013

    Horrible

    Flagstar charged me over draft fees all the time (which I fought because I had money in my account) and would get reimbursed. What a hassle though. After about the 5th time of this I cancelled my account. Low and behold it didn't get cancelled? So an automatic transaction went through. Never found out about it til a year later when attempting to get a mortgage! What? Then when I call to talk to someone about it I get passed on to 4 different people because none of the prior ones could help me? So no resolution my credit just had to take a hit because they failed to close my account OR tell me about it. No statements, letters, nothing. All around a horrible banking experience. Wouldn't recommend for anyone to join.

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  •  
    Reviewed By Roderick W. Jan 2, 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.

    Continue reading...
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  •  
    Reviewed By amdgreenlee Aug 20, 2017

    Horrible

    This bank is absolutely horrible. Not only does their website and mobile app go down all the time, which is not only inconvenient and horrible customer service, but bound to be breaking some codes that banks must adhere by.

    Every time I call in to inquire about my account or a question, I am met with rude personnel who refuse to to look into the issue. On a few occasions, I used their mobile app to deposit paychecks and because of THEIR inconsistency, they didn't post in time and put me in the negative. When I tried to recover my money and fees, they refused to help me. They stated I simply did not deposit the check when I know that I did. This is MY hard earned money that they are stealing and squandering.

    DO NOT use this bank. They are scammy and will do anything in their power to take your money and try to justify it. I am now working more than 40 hours a week to make up for my losses. With this being said, I can't get away from this bank soon enough. I wanted to make a post publicly so that others know that their money is NOT safe here.

    I am going to follow up with a formal complaint with the BBB and any other agencies I can. This bank seems quite fraudulent, if you ask me.

    Look elsewhere for a trustworthy bank because Flagstar is not worth your time or energy.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By jd27 Sep 30, 2015

    Quick to Charge Fees, with no Explanation or Grace

    I've been banking with them for quite awhile and have had nothing but either a neutral or bad experience with them, no good experiences. They have the worst fees and no grace period on overdrawn accounts to get back to a positive balance. The local branch was no help, I called customer service and they only word they know is "no". The nicest person I was able to talk to was their chat feature on the website and I actually felt like I was getting somewhere. The corporate offices however were kind and explained things, but did not see if how I saw things and didn't help out either. Over all this bank seems to care more about money and less about the customer behind the account. I do not recommend this bank unless you want non stop ridiculous fees.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By keithsipos Aug 26, 2014

    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?

    Continue reading...
    Thank you for your feedback Is this review helpful?