Featured Savings Rates
Featured Accounts

Bank of Internet USA

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.25%Reward CheckingRewards Checking
1.00%1-year CD12 Month CD
1.40%4-year CD48 Month CD

Overview / Commentary
877-541-2634
4350 La Jolla Village Drive, Suite 140
San Diego, CA 92122

Bank of Internet USA is one of the first banks worldwide to offer banking services, namely deposit accounts and loans, exclusively on the Internet. The bank is registered with the FDIC as a savings and loan association and recently changed its name to Bank of Internet Federal Bank, though still maintaining its banking brand as Bank of Internet USA.

The bank offers straightforward deposit products and mortgage loans for individuals and businesses. Its personal deposit products include two checking accounts, a savings account, a Money Market, and Certificates of Deposit (CDs).

The online bank’s reward checking account offers a competitive rate of interest, free checks, a free debit card, unlimited ATM reimbursements, and free mobile deposit to name a few features. B of I offers several ways to earn different amounts of interest basis points on its reward checking, including direct deposits and debit card purchases. The other checking option is a high interest account that comes with a monthly fee unless a minimum daily balance requirement is met. The high interest checking account offers a great rate of interest and a number of free features that make a convincing case for an Internet-only checking account.

A high-yield savings account is offered and provides a competitive rate of interest with no monthly service fees or minimum balance requirements. The savings account also comes with a free ATM card, free mobile deposit, and free FinanceWorks financial management software. Money Market accounts offer increasing rate thresholds as account balances increase and come with unlimited check writing and an ATM card. Certificates of Deposit (CDs) are available in term lengths ranging from 3 to 60 months and have a minimum initial deposit requirement. B of I also offers a business checking account that has been recognized by DepositAccounts.com in the past.

Bank of Internet USA online banking provides a secure and dynamic platform on which account holders manage their deposit accounts. Various tasks like Bill Pay, mobile deposit, funds transfers, and viewing transaction history can be completed easily through the web-based system. Mobile banking is also available and consists of a mobile-optimized website and mobile banking apps that make account management tasks easy and convenient to complete via smartphone or tablet devices.

Bank of Internet USA was originally established in 2000 and is headquartered in San Diego, California. The bank is a subsidiary of Bank of Internet Federal Bank and operates exclusively online, which allows it to offer some of the best interest rates in the country.

Related Posts

View all posts from:

11/20/12 - Another UFB Direct MMA Rate Cut - Future of BofI's Rewards Checking?
11/1/12 - Bank Of Internet's Success And Future Plans
7/5/12 - One Year Anniversary of Bank of Internet USA's Rewards Checking
5/22/12 - Competitive Business Checking Accounts at BofI Federal Bank
5/8/12 - Why Some Checking Accounts Have Higher Rates Than Savings Accounts
5/4/12 - Offer For ASA Members
8/15/11 - Bank Of Internet Launches A New Payment Service
8/4/11 - Bank of Internet's New Airline Miles Rewards Savings & Checking Accounts
7/18/11 - New Higher CD Rates at Bank of Internet - Available Nationwide
7/12/11 - The New Free Rewards Checking Account at Bank of Internet
7/7/11 - Competitive 1-Year CD Rate at Bank of Internet USA - Available Nationwide
11/11/10 - Bank Of Internet's New Fee Schedule; Changes To Online Banking
7/6/10 - CD and Anniversary Review of Bank of Internet USA
6/3/10 - The Best CD Rate is Not Always the Best Deal
5/13/10 - More Big Rate Cuts at Bank of Internet USA
5/4/10 - Bank of Internet Cuts Savings and Money Market Rates
4/9/10 - Rate Changes at Bank of Internet: Savings Account Rates Down, CD Rates Up
3/25/10 - Bank of Internet Cuts Savings and Checking Rates
11/21/09 - Bank of Internet's New Advantage Savings Account with a 2.50% APY - Nationally Available
11/21/09 - Bank of Internet's High Yield Savings Account - New Higher Yield
11/11/09 - 2.02% 12-Month CD at Bank of Internet USA - Available Nationwide
7/2/08 - High Yield Checking and Money Market Accounts at Bank of Internet USA
7/2/08 - Checking Account Changes at Bank of Internet USA
3/18/08 - 4.20% 60-Month CD at Bank of Internet USA
3/9/07 - 5.48% 24 and 36-Month CDs at Bank of Internet USA
7/12/06 - Inside Look at Bank of Internet

Bank of Internet, a great experience in online banking

Bank of Internet is a great online bank. I first got this account when I was doing affiliate marketing and did not have much experience with local bank accounts. What is best about this bank is the ease and help for which they link your account to various online merchant and online wallet options, such as Android Pay and PayPal. I have been able to use savings, checkings, and all features of a regular bank without the hassle of dealing with banks who are skeptical of online money deposits, online wallets, etc. In short, it is a simple and reliable bank.

Great Bank for Busy Families

Posted by: TLS84 | Jan 6, 2017

My family just recently started banking at Bank of Internet USA and I couldn't be happier! Their rates are low and the website couldn't be any easier to use. I especially like their rewards checking account and the ease of use for the internet. Some banks have confusing interfaces, but Bank of Internet USA is very user friendly and it's very easy to find the information you need. One thing that makes this bank stand out is that they actually pay interest on checking accounts, which was a main draw for why my family switched banks. We have direct deposit and use our debit cards often and have never had any issues. They also have a wide variety of banking options from standard savings and checking accounts to IRAs and mortgages. Give this bank a try! You won't be disappointed!!

A viable option to mainstream banks.

I came across this bank when I was looking for an alternative from Wells Fargo. After doing some researching online, I came across Bank Of Internet. I found that Bank Of Internet was the most viable option. After looking though all their options on the site, I got of hold of their customer service operators. They had many options for me and put quite an effort into finding the right account for me. They also worked in finding me what I needed for my retirement accounts. I felt very happy after that. I think that if people want to try finding a new bank and have helpful employees, Bank Of Internet is a good option.

Fudged Reviews

I dont know who is leaving these amazing reviews but they are likely fortified by the bank or employees. We just moved to this bank and are leaving after less than a month because of the non stop issues. They wanted $35 just to get me a letter confirming my account and routing number.

Their back end system looks like its from 15 years ago and is totally dysfunctional compared to what you would expect from main stream banks. I would not recommend this bank to any businesses looking to move.

VIEW MORE REVIEWS

Health

Health Grade Components

Overall
FDIC Certificate #35546
Year Established2000
Employees626
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.83%
Return on Equity - YTD21.21%
Annual Interest Income$263.5MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$7.85B$6.25B
LoansQ3 2016vs Q3 2015$6.60B$5.33B
DepositsQ3 2016vs Q3 2015$6.40B$4.78B
Equity CapitalQ3 2016vs Q3 2015$694.9MM$548.3MM
Loan Loss AllowanceQ3 2016vs Q3 2015$37.6MM$31.1MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$42.0MM$30.4MM
Real Estate OwnedQ3 2016vs Q3 2015$1.3MM$848.00K
Rates
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Bank of Internet USA; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Bank of Internet USA Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.61%--High Yield Savings

Bank of Internet USA Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%--Money Market Savings

Bank of Internet USA Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%-$150kRewards Checking
0.71%$5k-Platinum Checking
0.20%-$100kGolden Checking

Bank of Internet USA CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%$1k-60 Month CD
1.40%$1k-48 Month CD
1.30%$1k-36 Month CD
1.20%$1k-24 Month CD
1.00%$1k-12 Month CD
0.75%$1k-6 Month CD
0.55%$1k-3 Month CD
Locations

Bank of Internet USA is an Internet only bank and does not have branch locations. Its headquarters is located at 4350 La Jolla Village Drive, Suite 140 - San Diego, CA 92122