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Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available.

Bank of Internet Rates & Review

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Bank of Internet Review

As its name implies, Bank of Internet has no brick-and-mortar branches.

Headquartered in San Diego, California, Bank of Internet was founded in 1999, and since then has achieved extraordinary growth. As of the first quarter 2010, it had total assets of $1.4 billion, and deposits of $970 million. Those deposits had increased by nearly 40 percent since the same period in 2009.

Products and services

Bank of Internet's online accounts include a high-interest checking account, three savings account options including a money market account, and CDs with maturities from 6 months to 2 years. The checking account comes with ATM refunds, free bill pay, and a free ATM card. The bank offers overdraft protection through a line of credit or a link to another Bank of Internet account. Funds can be transferred online from one account to another. Loan products include a refinance home mortgage and jumbo loands as well as commercial and apartment loans through the Apartment Bank division.

While no Internet-only bank can hope to rival the direct, personal service provided by small, local banks, Bank of Internet provides no-frills service to consumers who are mainly looking for high interest rates.

Deposit insurance

Bank of Internet is a member FDIC. Deposits at Bank of Internet are FDIC-insured to a maximum of $250,000 per depositor.

Bank Of Internet Rates & Review
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Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available. Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author's alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program. UGC Disclosure: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.