I was interested in their higher % rates for their checking account. I made a small deposit to try Bank of Internet USA out. I got my card and my pin as expected, and changed my pin to what I wanted it to be. I went to an ATM to activate my card per their instructions but my card would not work. This was at 7:30 am PST. I tried to call their help line but got a message to call back later. I waited until 8:30 am and the lady was nice enough to activate my card for me over the phone. I used the card a few times at fast food places just fine until I went to the grocery store. Again, my pin would not work. I tried to contact their customer service at 6:00 pm PST and I got the call back later message.
I work 8-5 Monday through Friday, so I need access to customer service that is a little wider than my own working hours. By the time I get to the store and have a problem it is too late and I have no access to my cash.
As a bank that is supposed to be more advanced in the internet and technology fields, their technology and customer service is a fail.
I have closed my account and was supposed to get a check that contained my remaining balance in the mail yesterday... No check. I cannot score them on their rates and fees, because I could not get their accounts to work.
I lost my debit card this weekend. No live Customer Service after six or weekends. Chat isn't available until 11:00 CST and only on week days.
I've called five times today and either get a busy signal or they hang up when i select speak to a representative. answer the phone.
I have used this bank for a few months now, and I was hesitant at first being an online only bank. It is a wonderful bank, and has great rates! I would recommend this bank to anyone who wants an extra banking account or if this is the first bank account ever opening.
All of their promises are real! Free postage paid envelopes for deposits, great percentages, and great customer service. The people are very nice, understanding, and friendly.
The bank card works just like any other Visa, any other bank card, and is a wonderful addition. Some banks do not give you a bank card, just checks. This one gives both, for free.
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!
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!