Consumer complaint received 2026-03-17 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: NEW YORK COMMUNITY BANCORP INC

Complaint narrative:
My complaint is about Flagstar Bank. I opened an account with them due to a banking bonus. Within a month, I decided to shut it down for several reasons : 1. Delayed deposits : XXXX would show funds being deposited XXXX days prior. However, it would not show up in my account. When I tried to call, the system would make it extremely difficult to connect with a live agent through chat or phone. When I persisted, the deposit would suddenly appear like magic - right that instant- which led me to believe they have strange trackers on their website. It seemed like they would only credit the deposit with push back. 2. Restrictions around external transfers : I would try to make external deposits but would be restricted from doing so. First, they would try to hold my opening deposit of {$50.00} for XXXX business days, even though there were larger amounts deposited after the fact. Second, they would say that I didn't meet minimum thresholds to make a transfer ( which I met ). Other times, they would just grey out the transfer button altogether. It was obvious that they did everything to impede the external transfer of money from their bank. 3. Delaying external transfers : I would schedule an external transfer. However, I would not get a confirmation that the deposit was scheduled ( not sent ) until 2 days later. Then, I would have the deposit transferred in another day or so. There is no appropriate reason for XXXX to delay the initial transfer request date except to restrict the outgoing flow of money. 4. No ATM card was provided like every other bank : upon account creation, this was the only bank in my history of banking ( over a dozen accounts ) that did not mail out an ATM card. They did mention there was an option you could check, but I do not remember seeing this, which means it might have been obscured in some way. This is another reason why I believe that the bank is severely trying to restrict clients from accessing their funds and restrict the outward flow of funds. 5. THIS IS THE BIG ISSUE HERE : I receive CA XXXX deposits. Previously, I received direct deposits in my XXXX XXXX account. Then, I switched to XXXX. I tried to switch back to XXXX XXXX after I had issues with accessing my funds at XXXX. I changed the direct deposit information more than 5 times on the XXXX site with a confirmation email from XXXX XXXX XXXX XXXX change had been made. For XXXX bi-weekly pay cycles, I continued to receive the deposits in my XXXX account. Both the XXXX and XXXX XXXX pointed fingers at XXXX other. But the real culprit here seems to be XXXX- the issuing bank for CA XXXX payments. After what I experienced, this seems to be another tactic for them to restrict/delay funds from leaving their bank. Now that I have canceled my XXXX account, I still do not have my most recent direct deposit in my XXXX XXXX account, which was confirmed to be changed XXXX times by the XXXX and XXXX XXXX. The payment has been verified as paid through the XXXX, but not issued through XXXX. I escalated this XXXX issue to a branch employee in XXXX, CA, who was kind and helpful. An escalation was created with the promise of a call from the appropriate department. I received a call from XXXX from XXXX, MI on phone number : XXXX. I did not validate my closed account because I wasn't sure whether XXXX was a legitimate employee due to online reports of scammers calling posing as XXXX. What struck me as odd about this encounter was XXXX smirking throughout the phone call and her refusal to tell me her position at the bank. After XXXX bi-weekly pay cycles and XXXX confirmation emails, I am not sure why XXXX does not issue the payment into the correct bank and continues to issue the funds into their own bank or not issue the payment altogether so they can hold my XXXX funds. The online reviews and my own experience highlights a pattern of widespread abuse and a refusal to let customers access their funds. I would like my XXXX payments deposited into the right account, once and for all, in a timely manner when the XXXX pays the claim. Thank you!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation