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!
Customer Service #

Featured Rates

Featured Saving Rates

Compare more rates »

Add a Bank to Compare

Bank News
CIT Bank
Add
Bank News
AmericaNet Bank
Add
Bank News
Bank5 Connect
Add
Compare Banks

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.

A+

MyBankTracker Rating

Customer Rating
Based on 33 Reviews
Financial Health
Based on Texas Ratio: 5.39
Bank Fees
vs. Average
Bank Rates
vs. Average
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!

Is this review helpful? ▲ Yes 1 ▼ No 0

Post a review View all reviews

Bank Rates

NAME RATE (APY) MIN TO EARN APY Min Deposit
High Yield Savings

0.61%

$0

$100

NAME RATE (APY) MIN TO EARN APY Min Deposit
Money Market Savings

0.75%

$0

$100

NAME RATE (APY) MIN TO EARN APY Min Deposit
High Interest Checking

0.71%

$0

$500

TERM RATE (APY) Min Deposit
3 Month CD

0.15%

$1,000

6 Month CD

0.25%

$1,000

12 Month CD

0.55%

$1,000

24 Month CD

0.70%

$1,000

36 Month CD

0.90%

$1,000

48 Month CD

1.05%

$1,000

60 Month CD

1.35%

$1,000

Banking Fees

Type Fee National average
Monthly Inactivity

$0

$7

Non-Sufficient Fund (Overdraft)

$25

$30

Stop Payment item

$35

$27

Return Deposit

$10

$13

Domestic Wire Transfer (Outbound)

$35

$22

Domestic Wire Transfer (Inbound)

$0

$9

Non-Bank ATM

$0

$1