I've had my checking account at this bank for over 10 years now. It's great. I bank entirely online. I've always had my employers direct deposit my money into this account, AND it earns interest every month. I've got my checking account linked to a free overdraft account, so no bounced checks, ever! Because it's an internet only bank, there are no branches, so they pass the savings onto you! That's how they're able to offer a checking account with no minimums, no fees, AND you earn interest. What could be better? However, because there are no branches, the only negative thing about this bank is making deposits. For that, I have to maintain a checking account at a local bank.
Overall, this is a solid account. They are internet based, so don't expect an extensive branch network. They do offer a pretty decent ATM network. The bank is small, which can be nice. When you need to contact customer service, it is pretty easy to decide what to do via the website. When I needed to call to ask a question, the customer service rep was friendly and personable. After verifying my identity, my question was answered quickly and correctly. The customer service rep was professional the entire time during my call. It was easy to get the answer I needed.
I have been a customer of this bank for more than four years. I started out with a paperless checking account and now have a checking account with checks and a debit card. This bank processes transactions quickly. I wish transactions would be adjusted on Saturdays. I also wish they would provide electronic signing for documents when you are requesting services that require a signature. This would save customers time which is the idea behind of electronic banking. I like the toll free number the bank provides for customers to call and get their current account balance and transaction history. Overall, the customer service is excellent and I would recommend this bank to any of my friends.
I recently had to open a free checking and savings account with First IB after they ended their relationship with ChaCha and the transactions have gone as smooth as ever. I find that all my fees are non-existent to minimal and I love that depositing money and communicating with them is just as simple as walking into my own local brick and mortar bank. They even have a service where you can scan a check, upload, and get an instant deposit. I have called customer service a handful of times and received helpful and friendly feedback 98% of the time, as there have only been some very slight snafus with miscommunication, and any issue I have is solved pretty quickly.
After running the gauntlet of various online banks that got bought up in quick succession I ended up with First IB of Indiana in 2001 and I have never had a reason to part with them. The application process was rather tedious given how easy it was to get an account with an online bank back then, but I had the impression that they did this to separate serious account holders from interest rate hunters (back then, they offered initial 6% interest on checking). The core criterion for my positive rating is this: - I have never, in the 12 years I have been with them, been on hold for more than a minute. Their customer support is excellent, much, much better than anything I have experienced at any other bank that I am reasonably familiar with. Every issue I ever had was resolved within maximally 48 hours, no matter whether I initiated contact by phone, email or chat. This goes for questions as various as international transactions, cashier's checks, issues with automatic billing payees, credit card coverage and check deposit. They have been one of the first banks to introduce check deposit by scanning (iScan) and again, in the 3 years I've been using it there was never an issue. My subjective feeling on the attractiveness of their credit card / ATM offers is that they do not want to put much effort into that side of the business. Don't expect great reward programs here, it is all about prompt problem resolution and a smooth banking experience.
I first opened an account with First Internet Bank when I worked online with ChaCha, because they required it to be paid. I quickly found out this was just like a regular checking account, only fully equipped with all of the online features I needed. I no longer work with ChaCha, but I can fund the account with any of the online work that I do. This is the perfect account for anyone who works from home. They will send you a debit card with which you can get cash for a whatever the ATM charges since they add no extra fees. You can use the debit card in stores or to pay bills, or you can also pay bills directly with your checking account by using the account and routing numbers. If you need to contact customer service, you will be connected directly to a live person who can help.
I was prompted to open an account with First Internet Bank of Indiana four years ago for direct deposit with a work at home job. At first I was hesitant as I'd never dealt with an online bank, in a different state. But I was pleasantly surprised. FIB is by far the best bank I've had a checking account with. There are no set limits on the amount you must have in the account each month, no quota on the number of transactions you must make each month, so no fees other than the usual you'd spend to withdraw at an ATM. This can be easily avoided too if you just opt for 'cash back' when using at a store or gas station. FIB's customer service is top notch and I've never been put on hold for longer than five minutes. Any small issues are resolved same day. I haven't taken advantage of the small cash back rewards FIB offers with debit card use as certain retailers and companies, but I'm certain I will in the near future. Can't beat it. Their website is new and improved and so easy to navigate. You can even link your other accounts for ease of use for budgeting and transferring funds. They have a mobile app too, and you can set it up to where you'll receive an email if your accounts falls below a certain amount. Just a lot of great features FIB has which I realize other big banks have too, but FIB has just one location/branch and therefore makes you feel your money is more secure without all the hidden fees and charges.
I opened an account with FIB when I worked for ChaCha and had the account for about five years. Opening an account is incredibly easy and almost any transaction can be completed completely online. I had a few issues with my debit card (not the fault of the bank, just a defective card) and the customer service responded quickly and mailed me a new (and thankfully working) Visa card. I've never called the customer service phone line, but the e-mail support is better than I expected, with a fast turn around time. One unique feature is FIB will provide you with postage-paid envelopes to complete deposits by mail. I used this program several times over the years and was really appreciative of it, considering that I lived in PA and the bank was in Indiana. FIB is an all-around decent bank that is very easy to work with.
I was introduced to the First Internet Bank of Indiana when I worked for ChaCha. All I can say is, it is a great bank. I had no problems with the bank whatsoever. I banked with FIBI for 2 years; it came to an end only because FIBI wanted to make ChaCha's workers pay a monthly fee instead of it being free as it once was. ChaCha did not want its workers to pay a monthly fee on top of paying FIBI $1 every time an employee withdrew money, which was frequently. I guess it was greed on FIBI's part. Other than that I have nothing bad to say about FIBI. I believe their monthly fee would be 6-7 bucks per month, if I am not mistaken. They have excellent customer service. You can also chat with them online if you have any questions or concerns. If you do not mind paying a monthly service fee FIBI is your bank. The four stars are for greed.
In the event that in a given week, for this product, there were multiple applicable rates in our database based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify with the issuing institution (i.e. bank, credit union, other lender) the rates, fees, and all terms and conditions accompanying the application.