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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
5/4/12 - 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
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 division of BoFi Federal has been a really good experience for me.

Posted by: Logartful | Dec 6, 2017

So basically a bit about my banking history is I used to live in Oregon and was with Washington Mutual and then Chase Bank took over and started charging minimum account fees. Since I don't work that much i never had that much in the account. Then I switched to West Coast bank which was then took over by Columbia bank and then they started charging a minimum fee. I moved to Montana for a short time and then finally down here to Florida. Instead of choosing a new regional or local bank I started seeing Internet only banks pop up and I searched carefully and decided on Bank of Internet. I got a checking account and after a few bumps was approved. (Well to be fair my name has always been a little bit of a hitch because I have a II suffix at the end of my name.) In any case they've been pretty responsive with customer support and I haven't actually had to talk to anyone via voice. They have an email system through their website. Whenever I had a question or request they would get back to me very quickly and usually fulfilling the request. I can deposit physical checks via their phone app. It does take a little bit of effort to get everything lined up but I suspect this is more about my dexterity with my phone. They claim they will reimburse atm fees up to a certain amount if you contact them to cover the charges, however, they seem to automatically refund me the atm fee which is really nice of them. I honestly like this way of doing my banking and hope to continue using them in the future.

bank of the internet

Posted by: Bluerock | Dec 13, 2017

What I love about this bank it it has zero atm fees, every time I withdraw, the fee is credited back. Also the customer service is excellent. Every time I call they are super friendly.

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.

You Have Been Warned!

Posted by: bomer | Nov 4, 2017

I had an account with them for years. Recently I wanted to do an ACH withdrawal and was shocked to find out that they limited it to $2K per day. Takes a few days to get a $100K withdrawal.



Health Grade Components

FDIC Certificate #35546
Year Established2000
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.8%
Return on Equity - YTD19.52%
Annual Interest Income$316.5MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$8.57B$7.85B
LoansQ3 2017vs Q3 2016$7.54B$6.60B
DepositsQ3 2017vs Q3 2016$7.26B$6.40B
Equity CapitalQ3 2017vs Q3 2016$837.4MM$694.9MM
Loan Loss AllowanceQ3 2017vs Q3 2016$42.1MM$37.6MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$32.1MM$42.0MM
Real Estate OwnedQ3 2017vs Q3 2016$1.3MM$1.3MM
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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

1.05%--Smart Savings Account

Bank of Internet USA Money Market Rates

1.05%--Smart Money Market Account

Bank of Internet USA Checking Account Rates

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

Bank of Internet USA CD Rates

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

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