FDIC-Insured—Backed by the full faith and credit of the U.S. Government
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Before you go
Why My Banking Direct?
A service of Flagstar Bank, N.A.
My Banking Direct is a service of one of the country’s oldest regional banks with $87.1 billion in assets as of March 31, 2026.
Secure digital banking
You can bank with confidence because your My Banking Direct account is backed by the stability of a trusted regional bank.
My Banking Direct FAQs
As of June 2026, we no longer offer new checking, savings, or certificate of deposit accounts. Here’s what to know and why this could be good news for you.
- Find great rates and more at Flagstar. We moved our great rates over to our parent company, Flagstar Bank—and we hope you’ll join us there, too! You’ll find the competitive rates you’re used to along with more smart ways to save, borrow, and build wealth, with expert guidance available at every step.
- It’s business as usual for your My Banking Direct account. If you already have a My Banking Direct CD or high-yield savings account, nothing has changed. It’s secure, FDIC-insured, and backed by the strength and stability of Flagstar Bank—just like always.
- Keep using your prepaid benefits debit card. If you receive state-issued payments this way, you’re all set. Nothing changes for you. And you can take advantage of Flagstar’s great rates, too.
Visit flagstar.com to get started.
If you have a current My Banking Direct account, nothing has changed. It remains secure, FDIC-insured, and backed by the stability of Flagstar Bank, N.A.
You can continue to access your account through mybankingdirect.com, flagstar.com, and Flagstar Mobile.
No. As of June 2026, we no longer offer CDs, high-yield savings accounts, or checking accounts. However, you can find great rates and a full range of banking, lending, and wealth management solutions from our parent company, Flagstar Bank.
Learn more at flagstar.com.
Yes! You can open an account online anytime. Or, if you live near a Flagstar branch, you can stop by during business hours.
No. You can keep using your card the way you usually do to pay bills, make purchases, get cash back at checkout with your PIN, and withdraw money from our national ATM network.
The funds on your prepaid benefits debit card continue to be FDIC-insured for your peace of mind.
We created My Banking Direct as a digital-only banking platform to offer competitive saving rates to more people.
No. My Banking Direct is able to offer higher rates by being an online-only bank. You can manage your account anytime on our website or mobile app. However, you can use Flagstar ATMs to manage your account. There are no fees for My Banking Direct customers to use Flagstar ATMs.
Your security is our top priority
We use advanced encryption and multifactor authentication, including biometrics, to protect your personal and financial data at every step.
Advanced authentication
Stay secure with multifactor authentication and biometric login
Real-time account alerts
Stay in the know with transaction alerts, payment reminders, and more
FDIC-insured
Your deposits are secure, insured up to $250,000 per depositor1
Security FAQs
Yes! Every individual customer is insured by the FDIC to the full extent permissible by law. A depositor can have more than $250,000 at one insured bank and still be fully insured, provided the accounts meet certain requirements. Individual, joint, and retirement accounts are insured separately.
We use several methods to ensure that your information is secure.
- TLS—Transport Layer Security is a protocol that ensures privacy between communicating applications and their users on the internet. When a server and client communicate, TLS ensures that no third party may eavesdrop or tamper with any message.
- Encryption—Encryption makes your information unreadable as it passes over the internet.
- Automatic Sign Out—This built-in feature automatically signs you out of a session if you are inactive for a predefined time. It is best if you sign out immediately after you finish your tasks.
We do everything we can to make your online and mobile experience as secure as possible. Each transaction is equipped with high-tech protection allowing you to bank with peace of mind.
When you log in using your mobile device, you are logging in with the same multilayer security that is used as if you logged on from your desktop computer. We confirm your credentials along with the device you are using.
With Account Alerts, you can stay up to date with what’s happening in your account—to the degree that you want. You can receive alerts for every transaction or just one alert when your savings account reaches a specific amount. It’s a service with many options to choose from, and you can change your alerts anytime.
Multifactor authentication is a security method that requires you to provide additional information to access an online account or system, such as a password combined with a code sent to your phone.
Biometric security is a way of authenticating your identity by using your unique characteristics, such as fingerprints or facial features, to access your account.
Please call us at 866-285-1856
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Product and service availability may vary by location and are subject to area restrictions. My Banking Direct products are available online only. Customers living near any Flagstar Bank branch location may not be eligible. Flagstar Bank product and service offerings can be located at flagstar.com.
© 2026 MyBankingDirect, a service of Flagstar Bank, N.A.
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