Flagstar Express MMA Promo down to 3.65% APY

Flagstar Express MMA tiered:
Balance Tier Rate APY
$0 - $24,999 2.38% 2.4%
$25,000 - $99,999 2.62% 2.65%
$100,000 - $999,999,999 2.87% 2.9%

DVDBob said:I believe Flagstar is now down to 3.50% as most of the others have dropped as well.

One thing to make note of - they are limiting the amount that I can deposit INTO my account. I've tried to transfer $4000 into my account this morning and they claimed I have a $2000/day deposit limit. However, I can witdraw $15,000/day. This doesn't make sense, and I've spoken to 4 different people about it. I'll be closing this account ASAP and moving my $$ to Provident Bank.

Their ACH system has always had limits. I have no problems pushing or pulling whatever amounts I choose using an outside account.

DVDBob said:niicceem said:DVDBob are you saying I can pay unlimited number of bills using online billpay feature and I wouldn't get penalized? have you done it?
the following from the fine print is what confuses me.

"By federal regulation, not more than six preauthorized, automatic, online or telephone transfers or withdrawals are permitted per statement cycle. Three of these six transfers or withdrawals may be made by check or debit card (also known as Point-of-Sale (POS) withdrawal)"
Sorry, I don't really know as I only plan to use ACH transfers with my account. From what you cut and pasted, it looks like there is a cap of 6 total tranactions no matter what method is used. I have found that Flagstar Customer Support is very responsive and very polite over the phone, so just give them a call and ask!

Just to clarify this point, I emailed Flagstar about this and here was their reply:


An unlimited number of deposits or withdrawals are permitted in person, by mail, or ATM. By federal regulation, not more than six preauthorized, automatic, online, or telephone transfers or withdrawals are permitted per statement cycle. Three of these six transfers or withdrawals are permitted by check or debit card (also known as Point of Sales (POS)) withdrawal. Bill pays will count against the six total transactions per statement cycle. If you write checks or use the debit card three times during the statement period, you would only have three bill pay transactions for the months. If no checks are written or the debit card is not used, you have six transactions or bill pays for the statement cycle to use.

For clarification purposes the limit is only on "preauthorized withdrawals."

An excess preauthorized withdrawal fee of $10 may be charged for each preauthorized, automatic, online, or telephone transfer or withdrawal in excess of six during a statement cycle.

They also claim that they only do a soft pull, but some of the other posters above claimed it was a hard pull. Then again, those posts were fairly old, so maybe the policy has changed.

aarongyes said:What happens when you go over?

See my revised post above yours. They charge you a $10 fee.

weizor said:tried opening an account today and was declined, anyone know why this would happen and if it's worth pursuing?

How is your credit? Any unpaid checks? Open a bunch of bank accounts recently?

Hmm that's odd. Maybe they had a problem verifying your ID. I would give them a call. I just opened a CD online with no issues.

I just opened the account. You don't find out the details of ACH transfers initiated at Flagstar until after you open the account.

They offer two types of transfers, "Standard" and "Premium". Both are free. The difference is that Standard is slow (4 days) and you loose several days of interest with the transfer. Premium is next day with no lost interest inbound and one day lost outbound.

Premium is limited to $2,000/transfer and $5,000/month. BUT, premium inbound transfers for an external account are not allowed until both THREE MONTHS after you start using the transfer service, and 60 DAYS after you make an inbound transfer of $500 or more from that account. Premium outbound is always available. Also, a $750 balance in the account is required for Premium transfers.

The standard inbound limits are $2,000/transfer and $5,000/month. The outbound limits are $15,000/transfer and $25,000/month. They will raise the standard limits for an external account THREE MONTHS after you start using the transfer service and 60 DAYS after you make an inbound transfer of $1,000 or more from that account.

When initially funding the account by ACH transfer, they allow at least $10,000 (thats what I transferred) and there is one day of lost interest on the transfer.

Rate down to 3%

Down to 2.40%.

Down to 2.20%