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  First Internet Bank Business Checking Account

First Internet Bank Business Checking Account

in Business Checking Accounts from First Internet Bank · fdic

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First Internet Bank Business Checking Account

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in Business Checking Accounts from First Internet Bank · Member FDIC

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Highlights
Monthly Fee $0
ATM Fee: Out-of-Network N/A
Minimum Balance to Avoid Monthly Fee N/A
APY (Annual Percentage Yield) 0.3%

First Internet Bank Business Checking Account Review

First Internet Bank Business Checking Account is offered by First Internet Bank, a bank founded in 1999 and based in Indianapolis, IN. First Internet Bank Business Checking Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Higher than average APY. First Internet Bank Business Checking Account has an annual percentage yield of up to 0.3%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $10000.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • No minimum initial deposit. There is no minimum balance required to open an account.
First Internet Bank Business Checking Account Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • No signup bonus.
  • Does not offer mobile check deposits.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Higher than average wire transfer fees.
First Internet Bank Business Checking Account FAQ

Are business checking accounts from First Internet Bank federally insured?

Yes, your First Internet Bank business checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #34607). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does First Internet Bank Business Checking Account offer?

First Internet Bank Business Checking Account Rates & Terms
Description
APY (Annual Percentage Yield) 0.3%

First Internet Bank Business Checking Account offers an APY of 0.3% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $10000.

What are the account minimums for First Internet Bank Business Checking Account?

First Internet Bank Business Checking Account does not require a minimum initial deposit.

First Internet Bank Business Checking Account Account Minimums
Description Amount
Minimum Initial Deposit $0
APY Minimum Balance $10,000

What fees does First Internet Bank Business Checking Account charge?

The good news is that this account does not have a monthly service charge.

First Internet Bank Business Checking Account Fees
Description
ATM Fee: In-Network 0
ATM Reimbursement Monthly Limit 10
Check Copy 5
Debit Card Replacement Fee $5
Monthly Fee $0
NSF Fee 30
Online Bill Pay Fee $0
Paper Statement Fee 3
Returned Deposit Fee (Domestic) $20
Returned Deposit Fee (International) $20
Stop Payment Fee $30
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) 20
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) 50

What features and perks does First Internet Bank Business Checking Account offer?

This account includes the following features:

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Message From First Internet Bank Business Checking Account

An online checking account that’s ready for the big time. As a small business owner, we know you have big dreams. But we bet you are not daydreaming about what your ideal business checking account could be. Don’t worry – we’ve done that for you. Go big with small business checking and get back to sweet dreams about where you are headed!

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance 10,000
Minimum Opening Deposit Starting at $0
ATM Fee: In-Network 0
Monthly Fee $0
Online Bill Pay Fee $0
ATM Reimbursement Monthly Limit 10
Check Copy 5
Debit Card Replacement Fee $5
NSF Fee 30
Paper Statement Fee 3
Returned Deposit Fee (Domestic) $20
Returned Deposit Fee (International) $20
Stop Payment Fee $30
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) 20
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) 50
Account Features No Monthly Maintenance Fee
APY (Annual Percentage Yield) 0.3%

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