Don’t bank here. These guys are real scumbags. Locked in three to five year CDs at over 3 percent and they decided to close them a year in. These were not callable cd products. Unheard of in banking unless the bank is in serious financial distress. If you had tried to close your cd account early they would have penalized you a year in interest. If they wrote their contract this way, they intended to screw people all along. Make a complaint to the federal banking ombudsman. They sold CDs that weren’t CDs but savings accounts they could terminate at any time. I personally missed out on higher interest rates because I was locked in here. This bank is very skkezy and not on the up and up. Do not trust! There is something going on here.
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Product: First Internet Bank Savings & CDs
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First Internet Bank @FirstInternetBank
We appreciate your feedback. The decision to no longer offer IRA products was made with our customers’ best interests in mind. Our Relationship Bankers can assist you with next steps and can be reached by visiting firstib.com or calling 1-888-873-3424.
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foto gold @gold_foto8
Thank you for sharing... This is important news. Just curious have you resolve the issue yet? I believe you are talking about CD account but not the IRA account, right?
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Norman Fleming @flemingpinnacle
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I invested and transferred $225,000 in to a First Internet of Indiana IRA-CD in March of 2019. It was suppose to be a 5 Year CD. Just 11 months into the agreed to period, First Internet informed me they were cancelling all IRAs, and that I needed to withdraw the funds. Now, I'm forced through the hassle of doing a transfer, and significant financial loss, since interest rates have dropped significantly. A bank that can't honor their contracts and obligations, should be trusted by no one.
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Product: First Internet Bank Savings & CDs
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First Internet Bank @acrockett
Thank you for taking the time to provide your feedback. We understand that the decision to no longer offer IRA products may cause some inconvenience; however, it was made with our customers’ best interests in mind.
Given the complexities of these accounts, our IRA customers’ financial goals are better served by financial institutions that specialize in this product. First Internet Bank’s priority is to provide ample time for you to determine the best options moving forward and to assist in helping make the transition as simple as possible. There’s no tax penalty; once you select a new qualified IRA plan, you’ll have 60-days to complete the process. Our Relationship Bankers may be reached by visiting firstib.com or calling 1-888-873-3424. We appreciate the opportunity to have served your IRA account.
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First Internet Bank @FirstInternetBank
Thank you for taking the time to provide your feedback. We understand that the decision to no longer offer IRA products may cause some inconvenience; however, it was made with our customers’ best interests in mind.
Given the complexities of these accounts, our IRA customers’ financial goals are better served by financial institutions that specialize in this product. First Internet Bank’s priority is to provide ample time for you to determine the best options moving forward and to assist in helping make the transition as simple as possible. There’s no tax penalty; once you select a new qualified IRA plan, you’ll have 60-days to complete the process. Our Relationship Bankers may be reached by visiting firstib.com or calling 1-888-873-3424. We appreciate the opportunity to have served your IRA account.
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Review First Internet Bank Savings Accounts
First Internet Bank Savings Accounts Q&A
Get answers to your questions about First Internet Bank Savings Accounts below. Editorial and user-generated content is not provided, reviewed or endorsed by this issuer. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Yes, First Internet Bank offers certificate-of-deposit (CD) accounts specifically for businesses. These CDs are FDIC-insured savings options with competitive fixed interest rates and no monthly maintenance fees.
For the most up-to-date information, please refer to First Interner Bank's website or contact their customer service at (888) 873-3424.
You can check the best CD rates available for you to make sure that whatever decision you go for really fits your goals.
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