“Decent”
I've had an account with this bank for many years. Their online banking is the best I've used so far, or maybe I'm just used to it. I use their online bill payment for just about everything. I have checks when that is needed (very rarely) and they have given me a mastercard with a $2500 limit (which I didn't apply for, they just asked me if I wanted it). The only annoyance I've had is great difficulty getting my debit cards sent to me. I have a PO Box which they will not deliver to, even if my mail is being forwarded to it. I know it's good security, but I couldn't even get them to send it to a local branch so I could pick it up in person. You do have to read over their fees and do your banking accordingly to avoid them, but it can be done. In all the years I've used them I've only paid a fee for a foreign (country) transaction on my debit card. That's a bit annoying, but it was less than $2 so ultimately not a big deal. For online bill payment this bank is really the best IMO. They don't charge monthly fees for using the bill pay, although they will charge if you go over 20 payments per month. I've never gone over it and I use it for everything from the light bill to my mortgage payment. They also have email alerts that will tell you when your credit card bill is due and the daily balance on your account. This is very useful for me, it saved me from being ripped off when my debit card number was stolen and used. I would highly recommend this bank for online checking account and bill payments. Not so much for savings though as their rates are pitiful.
“Recommended”
I've had a good experience with this bank. I was using it for savings until they dropped their interest rates very low. I still have an IRA and a CD with them. The online banking is very user-friendly and you can easily transfer money to and from external accounts. I would recommend this bank for savings purposes. I have not used their 100% electronic checking account or bill payment services so I can't speak to that.
“Recommended”
I can't find much bad to say about this bank. I've been with them since they were GMAC. The switch over went fairly smoothly, at least from my perspective... although they could have given their current customers a bit more warning ahead of time, but it all worked out fine. The site is very user-friendly. I can easily transfer funds to and from external accounts. I only use this for savings so I don't know if they have online bill payments or how useful it is. But for my purposes this has been a good bank to stash my savings. Kinda sucks they dropped their interest rate, but it's still a decent rate compared to what other banks are offering. Overall I'd recommend it.
“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.
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