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 Grade

A+
Customer Rating
Based on 31 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

Customer Reviews

Most Helpful Customer Reviews

DGH72's Profile Image

Reviewed by DGH72

Aug 6th 2012

5 out of 5 marks

What an easy bank!!

Bank of Internet has been such a positive experience for me. I have my checking account with them and it has been so easy! I pay ALL of my bills from this account (for free). I use their FinanceWorks to track my expenses and bills. The free features like money transfers, deposits, and ATM reimbursements make this account so easy and free to use. My last bank made lots of promises...Bank of Internet delivers!!

Is this review helpful? ▲ Yes 3 ▼ No 1

Wendy's Profile Image

Reviewed by Wendy

Jun 3rd 2009

3 out of 5 marks

Great until you try to get your money out

I signed up for a savings account because Bank of Internet's rate was blowing everyone else's out of the water. Everything was great until I tried to withdraw money from the account. You cannot transfer funds from a BoI account on their website. You have to go into an account with another bank and request your funds from BoI. If your other accounts don't allow this you can pay $7 for a certified check or $30 to have your money wired to you. Oh, and if you want to close your account within 90 days you will have to pay an additional $25.

Is this review helpful? ▲ Yes 7 ▼ No 0

Sam M's Profile Image

Reviewed by Sam M

Aug 3rd 2009

1 out of 5 marks

Terrible bank, avoid at all costs

It doesn't matter how high Bofi interest rate is, they are not worth the trouble! It took weeks for me to even get a username and password to log into my account and it all had to be done by snail mail. Once I got the information I encountered errors trying to set up my account. Finally got it set up but once in the account if I click on anything I get sent back to the login screen. There is nothing of use within the online stuff anyway. There is no way to transfer too and from external accounts. There is no way to make a withdrawal or deposit except by snail mail! You'd think with a name like Bank of the Internet they'd be a lot more high tech but there are many banks out there that actually have their acts together and offer excellent online services. I can't stress enough how bad this bofi is, if I could give it a negative rating I would. Just stay away, not even a high interest rate is worth this nightmare. Thankfully I only deposited $100. It will sit for 90 days (to avoid closing fee of $25) then I'm going to close the account. So unless they manage to do something really spectacular in 90 days (doubtful!), I'm done with it.

Is this review helpful? ▲ Yes 5 ▼ No 1

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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

$14

Domestic Wire Transfer (Outbound)

$35

$22

Domestic Wire Transfer (Inbound)

$0

$9

Non-Bank ATM

$0

$1