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

Bank of Internet USA, a DepositAccounts.com advertiser, 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

Bank Of Internet USA Ups Savings And MMA Rates To 1.05% - 9/7/2017

Bank of Internet USA’s savings and money market account rates finally had a rate hike. The new rates are still low compared to the top 20 rate leaders. Nevertheless, it’s always nice to see a rate hike. Below is a summary of the rate changes: Smart Savings: 1.05% APY (was 0.61% since 2013) Smart MMA: 1.05% APY (was 0.75% since 2010) Both have no minimum balance requirements and no monthly fees. The MMA does offer limited check writing. Both accounts offer online bill pay.

Bank Of Internet USA Ups Rate On 60-Month CD - 6/29/2017

Bank of Internet USA (internet bank) has added 75 bps to its 60-month CD (2.25% APY). Minimum opening deposit is $1k, with no stated balance cap.

View all posts from:

10/7/13 - Only Half The Interest Posted...
9/6/13 - BofI Federal’s Affinity Group Rate Premium Ends - Rewards Checking Still a Good Deal?
7/15/13 - Two Year Anniversary of Bank of Internet USA's Rewards Checking
5/8/13 - 1 Bank That Could Disrupt The Whole Banking Sector
4/26/13 - UFB Direct Slashes Rates - What’s Going On at BofI Federal?
1/31/13 - Bank of Internet USA's New Rewards Checking Balance Cap
1/30/13 - Bank Of Internet Rca Cap 150K Eff 3/1/13
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
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
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
7/12/06 - Inside Look at Bank of Internet

I don't use it too often, but....

Posted by: Ludalsojit | Sep 1, 2017

I do not use this website and this account too often, but I signed up because I thought the idea of an online only bank would be awesome so I would never have to stop at an ATM again, since I hardly ever use cash and am mostly an electronic and modern person. I was glad I made this decision to sign up with this bank. The signup process was very easy and straightforward. I entered all of my details and information online, was mailed my card, activated it, opened my account, and had my money ready to use within a week. The website and signup process was so straightforward and easy to use that I never had to contact customer support, but from the website, it was clear that they would always be here for me when I needed them. I would absolutely rate this online bank five stars!

Professional and Experienced

Posted by: Mannerho | Sep 16, 2017

I have been a customer since 2015 and recommend his services to anybody interested in opening a deposit account.Thanks to their team I was able to open my account quickly and funded within a couple of days.This team just finished up my file and I couldn't be more satisfied with the job they performed. From start to finish I was informed of each step of the process. Since they are an online bank, they have a great online platform. When I've talked to people with the bank, they have been helpful and quick to resolve my issues.

Good Bank

I am new to this bank in the last month. So far I am very pleased with the bank. They offer everything I need for my banking needs. I was able to open a savings and checking account with debt cards that were mailed to me. I can make all deposits through my cell phone with the click of a picture. The app for the bank is very user friendly and easy to use. Deposits clear with a few quick hours so I can access my money quickly. So far I am a very satisfied customer with my new bank.

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.

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Health

Health Grade Components

Overall
FDIC Certificate #35546
Year Established2000
Employees681
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.89%
Return on Equity - YTD20.79%
Annual Interest Income$210.3MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$8.50B$7.59B
LoansQ2 2017vs Q2 2016$7.40B$6.41B
DepositsQ2 2017vs Q2 2016$6.98B$6.12B
Equity CapitalQ2 2017vs Q2 2016$804.8MM$657.1MM
Loan Loss AllowanceQ2 2017vs Q2 2016$40.8MM$35.8MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$28.4MM$31.9MM
Real Estate OwnedQ2 2017vs Q2 2016$1.4MM$207.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Bank Of Internet USA Ups Savings And MMA Rates To 1.05%

Ken Tumin   |  
Bank of Internet USA’s savings and money market account rates finally had a rate hike. The new rates are still low compared to the top 20 rate leaders. Nevertheless, it’s always nice to see a rate hike. Below is a summary of the rate changes:

Smart Savings: 1.05% APY (was 0.61% since 2013)
Smart MMA: 1.05% APY (was 0.75% since 2010)

Both have no minimum balance requirements and no monthly fees.

The MMA does offer limited check writing. Both accounts offer online bill pay.

Rates
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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.

Bank of Internet USA Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.05%--Smart Savings Account

Bank of Internet USA Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.05%--Smart Money Market Account

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
2.25%$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