First Internet Bank Checking Account Reviews (Oct. 2020) | Checking Accounts

Highlights
Monthly Fee	$0 - $10
ATM Fee: Out-of-Network	$0
Minimum Balance to Avoid Monthly Fee	N/A
APY (Annual Percentage Yield)	0.55%

First Internet Bank Checking Account Review

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

Key Takeaways

Low APY. The maximum annual percentage yield for this account is only 0.55%, and you must keep a minimum balance of $500.
Charges a monthly fee. This account charges a monthly maintenance fee of up to $10.
$25 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
No ATM fees. First Internet Bank Checking Account does not charge fees on ATM transactions.
Free bill pay. Pay your bills to practically anyone in the United States through First Internet Bank.
Hard credit pull. First Internet Bank may require a hard pull on your credit report to open a checking account.

First Internet Bank Checking Account Pros & Cons

Pros	Cons
Available in all 50 states. Interest-yielding account. Free debit card No charge on incoming domestic or international wire transfers.	No signup bonus. Not FDIC-insured. Higher than average wire transfer fees. Monthly service charge.

First Internet Bank Checking Account FAQ

Are checking accounts from First Internet Bank federally insured?

Yes, your First Internet Bank 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 Checking Account offer?

First Internet Bank Checking Account Rates & Terms
Description
APY (Annual Percentage Yield)	0.55%

First Internet Bank Checking Account offers an APY of 0.55% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $500.

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

First Internet Bank Checking Account requires a minimum initial deposit of $25 to open an account.

First Internet Bank Checking Account Account Minimums
Description	Amount
Minimum Initial Deposit	$25
APY Minimum Balance	$500

What fees does First Internet Bank Checking Account charge?

This account charges a monthly maintenance fee of up to $10.

First Internet Bank Checking Account Fees
Description
Monthly Fee	$0 - $10
Paper Statement Fee	$3
ATM Fee: In-Network	$0
ATM Fee: Out-of-Network	$0
NSF Fee	$30
Overdraft Protection Fee (per transfer)	$25
Overdraft Item Fee	$30
Early Account Closure	$0
Returned Deposit Fee (Domestic)	$20
Debit Card Replacement Fee	$5
Bank Teller Fee	N/A
Check Cashing Fee	N/A
Online Bill Pay Fee	$0
Stop Payment Fee	$30
Check Image Service	N/A
Check Copy	$3
Foreign Transaction Fee (Debit Card)	3%
Wire Transfer Fee - Domestic (Outgoing)	$20
Wire Transfer Fee - International (Outgoing)	$50
Wire Transfer Fee - International (Incoming)	$0
Returned Deposit Fee (International)	$20
Wire Transfer Fee - Domestic (Incoming)	$0

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

This account includes the following features:

Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
Mobile Banking Services - First Internet Bank Checking Account allows you to manage your money online. This includes depositing checks in your account with your smartphone.

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