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  First Internet Bank Interest Checking Account
First Internet Bank Interest Checking Account
in Checking Accounts from First Internet Bank · Member FDIC
Unaffiliated

First Internet Bank Interest Checking Account

Unaffiliated
in Checking Accounts from First Internet Bank · Member FDIC
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Highlights
Cashback Rewards N/A
APY (Annual Percentage Yield) 0.30%
(Verified 07/07/2022)
Monthly Fee $0 - $10
Minimum Balance to Avoid Monthly Fee N/A

First Internet Bank Interest Checking Account Review

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

Key Takeaways

  • Bonus offer. Open a new account and you can get
  • Higher than average APY. First Internet Bank Interest Checking Account has an annual percentage yield of up to 0.30%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $500.
  • Charges a monthly fee. This account charges a monthly service fee of up to $10.
  • $100 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 Interest Checking Account does not charge fees on ATM transactions.
  • Bill pay. Pay your bills to practically anyone in the United States through First Internet Bank.

First Internet Bank Free checking 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.
  • Does not provide access to a nationwide ATM network.
  • Higher than average wire transfer fees.
  • Monthly service charge.

First Internet Bank Free checking 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 Free checking offer?

First Internet Bank Interest Checking Account Rates & Terms
Description
APY (Annual Percentage Yield) 0.30%

First Internet Bank Free checking offers an APY of 0.30% (APY stands for annual percentage yield, rates may change). However, to earn interest account holders must keep an average beginning day balance of $500.

What are the account minimums for First Internet Bank Free checking?

First Internet Bank Free checking requires a minimum initial deposit of $100 to open an account.

First Internet Bank Interest Checking Account Minimums
Description
Minimum Opening Deposit $100
Minimum Balance to Earn APY $500

What fees does First Internet Bank Free checking charge?

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

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

Does First Internet Bank Free checking charge overdraft fees?

Yes, First Internet Bank Free checking charges a $30 fee for every overdraft. You can get overdraft protection at a cost of $25 per transaction.

What features and perks does First Internet Bank Free checking offer?

This account includes the following features:

  • Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - First Internet Bank Free checking allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

What is the customer support email for First Internet Bank Free checking?

The customer support email for First Internet Bank Free checking is bank@firstib.com.

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Availability

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

Feature Breakdown

Minimum Opening Deposit $100
Minimum Balance to Earn APY $500
Monthly Fee $0 - $10
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
Foreign Transaction Fee (Debit Card) 3%
NSF Fee $30
Overdraft Item Fee $30
Overdraft Protection Fee (per transfer) $25
Returned Deposit Fee (Domestic) $20
Returned Deposit Fee (International) $20
Stop Payment Fee $30
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $50
Paper Statement Fee $3
Online Bill Pay Fee $0
Check Copy $3
Debit Card Replacement Fee $5
Early Account Closure $0
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required Government Issued Photo ID
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • Mobile Banking
  • IRAs
  • Debit Card
  • Bauer Financial A+/A Rating
Signup Bonus Starting at $0
APY (Annual Percentage Yield) 0.30%
(Verified 07/07/2022)

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