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!

1. You can only do online transfers up to $5k every 30 days out of your account in a minimum of three installments. I intended to use the account as a "rainy day" fund so this is completely unacceptable. If you order the free checks during account setup you can get around this, but the point of this account is for ONLINE service!

2. If you don't enable 3rd party cookies on your browser (which I don't for security and privacy reasons), you will have to have them phone you with a PIN number every single time you want to access your account. Really? Is this the 21st century?

3. Setting up the account is a PITA. Once you prove you own the account you're funding the new one with, you have to do it ALL OVER AGAIN when you want to transfer funds back into it. Which I started to do immediately when I found out point #1. That was something new to me (I've had accounts with a couple of other online banks before and never encountered those miserly limits before). Anyway, I've been dribbling all of my money back out so I can close this mistake of a bank account.

Open with $100 and enjoy all it has to offer. Banking with Bank of Internet is really easy. Do everything online. Deposits by mobile phone. Also, if you're worried about ATM fees, there are reimbursements. Pretty cool right?

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 had several options for where to go for my refinancing of my condo. My rate was too high and I wanted to pull out a small amount of equity to pay off a high interest rate credit card. I contacted Bank of Internet via email and they called me back literally in minutes (that was impressive). I was all set (I thought) with how I wanted to accomplish my goal, and every other bank I spoke to gave me an option, I wrote it down and moved onto the next. Expecting the same treatment, I was almost shocked when the guy on the phone (Tom...I think...the only thing I didn't write down!) started giving me different options that basically achieved the same goal but included other benefits. NOT ONE other bank did that for me. I wrote down all my options and needed time to think. I was not pressured at all, and when I called back, even though I spoke with someone different, she had all of my information and options ready and we went from there. In the beginning of my search I was frightened that I would not get the best deal. Bank of Internet gave me options and a great deal...plus I decided to open a rewards checking account...that is an entirely new positive review!!! I cannot say enough about what a great experience that I had. So far, very pleased.

I needed an online bank that I could use anywhere and at any time. Bank of Internet is an online bank...no branch required. I have been extremely pleased with the service and ease of use that Bank of Internet has provided. The mobile app is fantastic, especially the mobile deposit feature...just a few taps with my iphone and done, any day of the week. If you travel extensively then this is the bank for you.

I was looking for an online bank that I could open from anywhere I lived. The reason I wanted something online was my hours I worked did not allow me to go to my local bank anyway so I figured if I am going to have to bank online I may as well get the best rates and lowest fees. After doing my research I came across Bank Of Internet and was able to open my account right from home. So far it has been really convenient. I love the mobile deposit feature from my Iphone.

I have been a banking customer since 2003 and have been relatively happy. My Wife, Mother-n-law and myself have checking accounts there. We decided to applied for a high yield savings account and got declined. We were astonished, we asked why. They said they couldn't talk about it. They referred us to www.consumerdebt.com; I was very upset, I asked them you can't give me any information? They said, something about writing a bad check. We have only one bank and we have never bounce a check not even once and our credit rating scored is over 800. Instead of giving us the benefit of the doubt and work through this problem, they chose to be snotty and rude. This bank is an internet based bank and therefore doesn't feel the need to maintain their professionalism. There is so much identity theft out there, effecting the innocent as well as the guilty. This bank is does not make any effort to resolving issues, they label you and treat you like a criminal.

Stay away from the "Bank of Internet, USA" they are not worth your time.

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.

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.