Flagstar Bank Review: Checking, Saving and CDs

Flagstar Bank is a regional bank with solid nationwide ATM access and no or low account fees.
Chanelle Bessette
By Chanelle Bessette 
Edited by Sara Clarke

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Flagstar Bank

    Overall institution rating


    NerdWallet rating 
    The bottom line:

    Flagstar Bank is a regional bank that has branches in Arizona, California, Florida, Indiana, Michigan, New Jersey, New York, Ohio and Wisconsin, as well as ATM service nationwide with the Allpoint and Presto networks. Flagstar’s interest rates are low for its basic accounts and CDs (or nonexistent, in the case of its basic checking), but its accessibility and no- or low-fee accounts make it a decent banking option.

    Best if: You meet the requirements to avoid monthly service fees, you live in the range of Flagstar’s branches, and you’re OK with having a no-frills account in exchange for in-person customer service access.


    • Large, free, nationwide ATM network.
    • Solid regional branch network.


    • Low rates on some savings accounts and CDs.
    • Monthly fees (though some are avoidable).


    NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.