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Flagstar Bank Deposit Agreement

Are you considering opening an account with Flagstar Bank? Before you do, it`s important to understand the deposit agreement that you`ll be signing.

A deposit agreement is a legal document that outlines the terms of your account, including fees, interest rates, and withdrawal policies. It`s important to read and understand the deposit agreement before agreeing to it, as it will govern your relationship with the bank.

Flagstar Bank`s deposit agreement covers a wide range of topics, including:

1. Account types: The deposit agreement outlines the different types of accounts that are available, such as checking, savings, and money market accounts. Each account type has its own fees, interest rates, and minimum balance requirements.

2. Deposits: The deposit agreement explains how you can make deposits into your account, including through direct deposit, wire transfer, and mobile deposit. It also outlines any restrictions on deposits, such as limits on the amount you can deposit or requirements for endorsing checks.

3. Withdrawals: The deposit agreement explains how you can withdraw money from your account, including through ATM withdrawals, debit card transactions, and checks. It also explains any limits on withdrawals, such as daily or monthly limits, and any fees associated with withdrawals.

4. Fees: The deposit agreement outlines the fees that you may be charged for using your account, such as monthly maintenance fees, overdraft fees, and ATM fees. It`s important to understand these fees so that you can avoid them whenever possible.

5. Interest rates: The deposit agreement explains the interest rates that apply to your account, including any introductory rates and ongoing rates. It also explains how interest is calculated and credited to your account.

By reading and understanding Flagstar Bank`s deposit agreement, you can make informed decisions about your account and avoid any surprises down the road. If you have any questions about the deposit agreement or your account, don`t hesitate to contact the bank`s customer service department for assistance.

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