Flagstar CEO says your money is safe

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FORT WAYNE, Ind. (Fort Wayne’s NBC) — Flagstar CEO Alessandro DiNello came to Fort Wayne Tuesday to address customer frustrations over what has been a rocky transition for many now former Wells Fargo customers in the Fort.

The company’s conversion of 52 Wells Fargo Bank branches to Flagstar went into effect Monday.  “We did have a serious system failure (Monday) morning that caused our website to go down, and when our website went down that made it impossible for people to access online banking.  When they couldn’t access online banking, they tried to call.  We had quadruple what we expected in terms of calls.  So the call cue got backed up.  When people couldn’t get through on the telephone they came to the branches,” he says.  “You can see the domino effect.”

DiNello says the system failure has been fixed.  If you’re still having problems he says you can email him personally at DiNello@flagstar.com

Flagstar released the following information Tuesday:

Here’s what happened:

The conversion of 52 branches of Wells Fargo Bank to Flagstar bank branches over the weekend resulted in frustration and inconvenience for some of our customers. Most of the issues centered around access to flagstar.com, access to Flagstar online banking, and debit cards either not received or not working. These factors combined to create an overflow of calls to our customer service line, creating even more frustration for our customers.

Here’s what we are doing today:

  • We have corrected the issues with flagstar.com.
  • We have updated flagstar.com/welcome with specific steps and instructions for logging in the first time.
  • We’ve brought on a significant number of people to provide extra support in our call center.
  • We are reversing any late or overdraft fees caused by these issues.
  • We will be delivering debit cards to customers within 24-48 hours of their request, depending on the time of day the request is received.
  • We have plenty of cash and instant-issue ATM cards at our branches to help with customers’ immediate needs. Plus, customers can use their cards fee-free at Allpoint and Presto network ATMs. These are available at most CVS, Walgreens, Target, Kroger, Publix, Safeway and Circle K locations.

Here’s what customers can do:

  • If they had trouble logging in to Flagstar, go to flagstar.com/welcome.
  • If they have concerns about transactions made as Wells customers over the weekend, those transactions will show in their balances at the end of today, Dec. 4.
  • If they would like to add another account holder to their checks, contact us at (888) 248-6423 or visit a local branch.
  • For other information, visit flagstar.com/welcome, visit a local branch, or call (888) 248-6423.
Tom Powell

Tom Powell

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