About Bank Of Internet

Bank of Internet USA, a division of BofI Federal Bank, owned by BofI Holding Inc. is a publically traded (NASDAQ: BOFI) FDIC insured nationwide branchless bank that offers high interest checking, savings, money market and certificates of deposit accounts. Bank with us 24 hours a day, 7 days a week and enjoy some of our great features such as no overdraft fees, ATM fee reimbursement, free online banking, free bill pay, mobile deposit, Popmoney and more!
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Overall Rating

MyBankTracker rated Bank Of Internet based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.


MyBankTracker Rating

Customer Rating
Based on 33 Reviews
Financial Health
Based on Texas Ratio: 5.39
Bank Fees
vs. Average
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Mobile Deposits
Mobile Deposits
Mobile Banking
Quality of Mobile Services

Most Helpful Customer Reviews

bmchapincoxnet's Profile Image

Reviewed by bmchapincoxnet

Oct 9th 2014

5 out of 5 marks

I Just Refinanced

I have refinanced 3 times in the past 6 years, and my experience with bank of internet was exceptional! Derrick kept me posted along the way, and i am very pleased with the outcome. The product is very competitive, and the costs for the loan were low. I would recommend bank of internet to anyone!

Is this review helpful? ▲ Yes 1 ▼ No 0

jonswaff's Profile Image

Reviewed by jonswaff

Jun 5th 2013

4 out of 5 marks

Excellent customer service, poor technology

I discovered BofI Federal Bank at nerdwallet.com and was drawn to the $0 monthly fee and no minimum balance on business checking accounts, which is very difficult to find. I was hesitant to create an account because BofI has 8 different brands (Bank of Internet, UFB Direct, AnFed, etc...) which to me is sketchy but the price was right. I really wanted to use Everbank but it essentially costs $15/month unless you keep a balance or your organizational structure is a sole proprietorship.

Creating an account at BofI was pretty easy, but certainly not a quick process. There was no online form to fill out so I ended up printing stuff out and mailing it in. There were options to fax and email documentation in as well, but I don't have an easy way to fax and you should never send sensitive information in email (my professional opinion). I received a phone call about a week after mailing in my documentation to confirm some information and my account was approved/created shortly thereafter. I followed the very clear instructions to create user to access my account.

I was very disappointed with the online website and the mobile banking app. All of their technology appears to be handled by Jack Henry and associates (http://www.jackhenry.com). This means that BofI basically gets to make small design changes to a standard template, and the templates are not visually appealing. Aside from the design aspect, the actual web & app experience is rather sad as well. I wanted to deposit a check into my account using the BofI app but it kept crashing every time I attempted to use a picture. I called up tech support and they basically said to re-install the app. Re-installing didn't help but it seemed to start working after I took pictures in portrait mode instead of landscape mode. Again, just crummy software all around. To be fair, I may have high standards as I have been a software developer for 15+ years and I really prefer to use excellent products.

Great customer service tho!

Is this review helpful? ▲ Yes 1 ▼ No 0

cap1122's Profile Image

Reviewed by cap1122

Feb 20th 2013

5 out of 5 marks

No Wonder They Posted Record Earnings!

Bank of internet seems to have the online banking model down to a science. Free mobile banking and deposits, budgeting software, unlimited atm reimbursements, etc. They offer everything a traditional bank would, but keep adding free features by cutting the overhead of branch operations. Awesome stuff, i recommend!

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