F

Flagstar Bank

Best ForHSA Account Holders
Fees$15.00/mo

Quick Summary

  • Regional bank HSA
  • FDIC insured
  • New York Community Bancorp

The Verdict

Flagstar Bank provides essential HSA features with a monthly fee of $15.00 and basic savings functionality, earning a 2.8/5.0 rating from HSA Orbit.

Flagstar Bank offers exceptional full-service banking and lending expertise with a distinctive, personal focus. Chartered in 1987 as a federal savings bank, today Flagstar has assets of $16.9 billion, is a top 5 bank mortgage originator, and the fifth largest savings bank in the country. Our team’s financial craftsmen possess skill and pride in their work that is reflected in their commitment to creating solutions tailor-fit for each customer.

Having access to the proper tools—like our wide range of consumer, business, and commercial products and services—is vital for any specialist’s success. After carefully listening to clients, Flagstar’s craftsmen know exactly which tools will work best to create a custom solution for their needs.

As a community bank, we operate 99 branches in Michigan and provide a full complement of products and services, including builder financing and loan syndications. Our commercial banking business is based on relationships and built on trust, relying on talented bankers to custom-craft solutions for customers. Our mortgage division operates nationally through 95 retail locations and a wholesale network of 1,000 brokers in all 50 states. We are also a leading servicer and subservicer of mortgage loans—handling recordkeeping for $91 billion in home loans.

Key Features

Banking & Access

Includes debit card and online banking.

Investment Options

This provider focuses on cash savings without investment options.

Security & Insurance

Deposits are FDIC/NCUA insured for your protection.

Account Details

Requires $50 minimum balance. no account opening fees.

Fee Analysis

Fee TypeThis ProviderIndustry AverageVerdict
Monthly Maintenance*$15.00$0.69ABOVE AVG
Account Opening$0.00$1.88EXCELLENT
Account Closing$30.00$1.95ABOVE AVG

* $15/month - Waived with personal Flagstar checking account AND listed as HSA tax owner

Industry averages calculated from 853 providers in the HSA Orbit database.

Investment Options

Savings-Only Account

Flagstar Bank currently offers a savings-focused HSA without investment options. Your funds earn interest in a cash account.

Interest Rates

Interest rates are not currently available for this provider.

Contact Information

Address

5151 Corporate Drive Troy, MI 48098 Customer Service

Customer Service

(888) 248-6423

5151 Corporate Drive Troy, MI 48098 Customer Service

At a Glance

Monthly Fee$15.00
Investment ThresholdN/A
Interest Rate (Cash)Not published
Debit CardIncluded
FDIC InsuredYes

Pros & Cons

The Good

  • FDIC/NCUA insured deposits

The Bad

  • Monthly fee of $15.00
  • No investment options available
  • Interest rates not published

User Sentiment

Based on community feedback

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NegativeNeutralPositive

Sentiment data coming soon

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