First Internet Bank is headquartered in Indianapolis, Indiana, but as its name implies, it has no physical branches. All transactions are handled over the Internet or by phone with customer representatives, allowing the bank, like most online-only banks, to pay higher interest rates on their accounts.
With more than ten years of experience in online banking, the bank offers customers fully integrated accounts and real-time transaction processing so that deposits and payments are credited immediately.
The Better Business Bureau gives First Internet Bank an A rating. Online customer reviews focus on the bank's high interest savings rates and good customer service.
Personal and business customers of First Internet Bank can open an online savings account, checking account, money market account or certificate of deposit (CD). The bank offers an interest-earning checking account and a free checking account with no minimum balance requirement.
All deposit accounts at First Internet Bank are FDIC-insured to $250,000 per depositor.
Online banking is the main focus of First Internet Bank, so customers can handle any type of transaction online or, if they need assistance, over the phone or by email with customer representatives. The bank's FinanceWorks system allows customers to track spending and manage all their accounts in one place, including accounts with other financial institutions.
First Internet Bank offers mortgage, installment and educational loans, IRAs, credit cards and debit cards.