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  First Internet Bank Checking Account

First Internet Bank Checking Account

in Checking Accounts from First Internet Bank · fdic

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First Internet Bank Checking Account

Unaffiliated

in Checking Accounts from First Internet Bank · Member FDIC

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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
  • Higher than average APY. First Internet Bank Checking Account has an annual percentage yield of up to 0.55%, 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.
  • No ATM fees. First Internet Bank 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 Checking Account Rates & Terms
Description
APY (Annual Percentage Yield) 0.55%

First Internet Bank Free checking offers an APY of 0.55% (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 $25 to open an account.

First Internet Bank Checking Account Minimums
Description
APY Minimum Balance $500
Minimum Opening Deposit Starting at $25

What fees does First Internet Bank Free checking charge?

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

First Internet Bank Checking Account Fees
Description
ATM Fee: In-Network $0
Check Copy $3
Debit Card Replacement Fee $5
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $10
NSF Fee $30
Online Bill Pay Fee $0
Overdraft Item Fee $30
Overdraft Protection Fee (per transfer) $25
Paper Statement Fee $3
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
ATM Fee: Out-of-Network $0

Does First Internet Bank Free checking charge overdraft fees?

Yes, First Internet Bank Free checking charges a $30 fee for every overdraft.

First Internet Bank Free checking offers 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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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • 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
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

APY Minimum Balance $500
Minimum Opening Deposit Starting at $25
ATM Fee: In-Network $0
Early Account Closure $0
Online Bill Pay Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
ATM Fee: Out-of-Network $0
Check Copy $3
Debit Card Replacement Fee $5
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $10
NSF Fee $30
Overdraft Item Fee $30
Overdraft Protection Fee (per transfer) $25
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $20
Returned Deposit Fee (International) $20
Stop Payment Fee $30
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Outgoing) $50
Account Features
  • Bauer Financial A+/A Rating
  • Debit Card
  • Free Bill Pay
  • IRAs
  • Mobile Banking
  • Mobile Check Deposit
  • No ATM Fees
APY (Annual Percentage Yield) 0.55%

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