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!!
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.
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.