Flagstar Bank
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 Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance* | $15.00 | $0.69 | ABOVE AVG |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $30.00 | $1.95 | ABOVE 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
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
Sentiment data coming soon
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