First Internet Bank

Online Bank, firstib.com

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MyBankTracker rating based on the following criteria that includes customer reviews, financial health, bank fees and other key factors compared to the other banks.
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About the Bank

First Internet Bank of Indiana (First IB) is the first state-chartered, FDIC-insured institution to operate solely via the Internet and has customers in all 50 states. Deposit services include checking accounts, regular and money market savings accounts with industry-leading interest rates, CDs and IRAs. First IB also offers consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans.

First Internet Bank Fees

  • National Average
  • Monthly Inactivity $5 $6
  • Non-Sufficient Fund (Overdraft) $30 $30
  • Stop Payment item $30 $27
  • Return Deposit $25 $13
  • Domestic Wire Transfer (Outbound) $20 $22
  • Domestic Wire Transfer (Inbound) $0 $10
  • Non-Bank ATM $0
    $6.00 refund per month
    $1

Latest Customer Reviews

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  •  
    Reviewed By dumbluck Dec 4, 2017

    IDIOTS, BUNCH OF LIARS - STAY AWAY FROM THEM

    HORRIBLE EXPERIENCE. We completed a refinance on our primary property in 2015, it was a breeze. In July 2017 we completed a purchase of an additional property, and the mortgage was completed. Now since October since we wanted to get a home equity line on our primary residence, they Idiots took over 45 days to just verify incomes. Even it clearly shows on our paystubs that incomes are verified and they received certification from Equifax proving our incomes to be accurate, just because our incomes were not split on the verification as our base incomes and overtimes, they would not consider the overtime incomes as valid incomes for our credit needs. Even after sending the income documents and proof on the 6th of November, they were still asking again stating that they never received it. We provided proof that everything was sent in, then they realized that it was sent before. After completing that, even on 30th November they are still on the step on verifying my wife's income and they won't consider her overtime income as a valid income, even though she has provable 5 years of consistent overtime incomes. Are you F-ing kidding me? Are you an arse-hole who would keep saying that after almost 45 days even after proving our incomes? They were just not interested in doing business with us as the bank is involved in selling the loans. They would not make any money of us as our credit scores are excellent, hence the bank would not speed up the process. Even after multiple attempts on getting to know what we would qualify for even without the overtime incomes, they would not even let us know what we qualified for? Are you DUMB? I have email proof and multiple calls to get that info, they would not give me that and only work on verifying incomes again and again. Why are we F-ing stuck at the same step, just say to us that we cannot approve you for a X-amount, but the Y-amount is available. So just F-ing spit out the right thing. IDIOTS AND ARSE-HOLES, NEVER DEALING WITH THESE IDIOT BUNCH AGAIN. We knew they were shady when they started giving reasons that were outrageous, it is good that we started working with BoA on the side, we are all set to close next week. First Internet Bank of Indiana - SHADY AND DISHONEST - STAY AWAY

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  •  
    Reviewed By ashat Oct 17, 2017

    Best Rates and excellent customer service!!

    I wanted to thank you for the excellent service you provided in our re-financing. We were working with another lender and were unhappy with the rate and high closing costs. We just came across your company as a suggestion from creditkarma. We are so glad we found your bank. Mike Watson being our loan officer was very efficient, communicated with us even in late hours and make the whole loan process so smooth and easy. We wanted to close the loan by the end of the month, and he made sure it happened. He was fantastic and did everything he promised.
    Glenda Quigley, our loan processor efficiently processed all our loan documents very quickly. Thanks to First Internet Bank team who worked with our loan. We are extremely happy and satisfied with your service, with the interest rates we got and the low closing costs. We will definitely recommend your Bank to our friends. You truly are great at what you do. Thanks again.

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  •  
    Reviewed By psharding75 Sep 5, 2017

    Sub par / Less than poor - Zero stars....

    From the very beginning I had nothing but problems with First Internet Bank. When I decided to build my new home in November of 2015, I did extensive research on potential financial institutions. In the end I selected First Internet Bank based upon this research and the recommendation of my builder. I provided all of the requested documentation and did everything I was asked in order to pre-qualify and eventually obtained a mortgage. The staff had a number of delays and excuses then several months after taking possession of my home requested a final appraisal of my home which was highly irregular and something the bank should have done a long time ago. Several months later I received notice that I need to sign and provide a occupancy statement when the bank knew very well I resided in my home. I contacted the manager of the residential mortgage group who had no explanation as to why now after taking possession of my home in January 2017 eight months later I need to sign a statement indicating I resided in the home. Are you kidding me what type of financial institution does this? Not professional in the slightest. Today I received notice from First Internet via email from a member of its marketing team, indicating a Notice of Transfer indicating my mortgage has been sold to CMC Funding an organization I have never even heard of. A group that in itself has a multitude of complaints and seems to be very questionable to say the least. I can't believe First Internet Bank operates in this manner. To further insult me earlier this week the bank closed my online mortgage account reversed payments that were made this month and have yet to apply those payments to my mortgage balance. Questionable activity I believe since I was not notified of the payment reversal and its not reflected in my balanced as having been paid. I have proof of all payments processed by my financial institution. I am very dissatisfied and will be sure to let my builder and anyone I know not to consider First Internet for anything at all. What a horrible experience!

    Update 9/12/2017: So in addition to all of the issues with First Internet Bank the form letter regarding the transfer of the servicing of my loan had the incorrect principal and interest payment amount, did not list the property tax or insurance escrow amounts. When I brought this evidence to the attention of the bank they acknowledged the information was incorrect on the document I received via email and blamed the problem on a computer glitch. At this point, I have no idea if the correct information was sent to the new servicing organization since they have yet to contact me as well. So furious with the bank and their lack of customer service, attention to detail and failure to meet high customer service and integrity. It's a wonder they are still in business with this type of poor customer service.

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  •  
    Reviewed By john0099adam Jun 24, 2015

    Holding your money hostage

    - Very disappointing to learn about daily ($500) and monthly ($5000) limits on bank-to-bank transfers.

    - This is not a common, nor acceptable, practice in on-line banking.

    - Since there are no checks to write on Savings account, if you need, say 10000 dollars of your own money sitting at this bank's money market account, you will have to do 20 transfers to your local linked bank which is a very inconvenient way to get your own money out of this bank.

    - Some higher authority at this bank need to learn how other On-line Savings/Money Market Accounts operate if they really want to offer this product effectively, conveniently, and competitively.

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  •  
    Reviewed By Karen K. Oct 8, 2012

    Mortgage Refi Was Ok Until We Closed

    Original loan officer was nice and seemed helpful. But then the appraisal didn't happen when i was told it would. I had to call and email multiple times and after 3 weeks, finally got the appraisal done. Then was told would close any time the next week, but was pushed to the latest date possible. Finally closed and 3 days later was told had to come up with another $900, after already supplying a check for closing costs. Not good service and feels like a scam.

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  •  
    Reviewed By Lawrence T. Jun 1, 2012

    Best In Service For Over 15 Years On All Types Of Accounts. Recent Mortgage Loan Was Handled Professionally And Quickly

    I have had checking, savings and overdraft line of credit for over 15 years(Since 2001). I have also had cd's and other accounts on and off during the time. I have only had to contact them a few times during this time as all records, forms and statements have always been correct. The few times i have contacted them by email, i always have a response within 24 hours and usually within a couple of hours.

    The responses have always been professional and helpful in regards to my questions. Their savings rates are not the best, but are near the top. Their loan rates are a little high, but the service makes the cost worth while. Fees are there for some items, but i don't think i've paid any fees in the 10 years i've had the account and i get $10. 00 of atm fees back each month. The ability to look at all my accounts on their web page is helpful now that i have set that up. The recent mortgage loan processing was amazing!.

    My real estate agent said he had never worked with a mortgage company that was so helpful and on top of the process from day 1. All my questions were answered within hours, emails within a couple of hours and phone calls, if not immediate, then within an hour or so. Paper work and money was exactly where it was expected and exactly on time. Rates were good and service was fantastic. Overall i would recommend this bank to anyone who can handle finances properly and knows how to use the internet.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By john0099adam Jun 24, 2015

    Holding your money hostage

    - Very disappointing to learn about daily ($500) and monthly ($5000) limits on bank-to-bank transfers.

    - This is not a common, nor acceptable, practice in on-line banking.

    - Since there are no checks to write on Savings account, if you need, say 10000 dollars of your own money sitting at this bank's money market account, you will have to do 20 transfers to your local linked bank which is a very inconvenient way to get your own money out of this bank.

    - Some higher authority at this bank need to learn how other On-line Savings/Money Market Accounts operate if they really want to offer this product effectively, conveniently, and competitively.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By Lawrence T. Jun 1, 2012

    Best In Service For Over 15 Years On All Types Of Accounts. Recent Mortgage Loan Was Handled Professionally And Quickly

    I have had checking, savings and overdraft line of credit for over 15 years(Since 2001). I have also had cd's and other accounts on and off during the time. I have only had to contact them a few times during this time as all records, forms and statements have always been correct. The few times i have contacted them by email, i always have a response within 24 hours and usually within a couple of hours.

    The responses have always been professional and helpful in regards to my questions. Their savings rates are not the best, but are near the top. Their loan rates are a little high, but the service makes the cost worth while. Fees are there for some items, but i don't think i've paid any fees in the 10 years i've had the account and i get $10. 00 of atm fees back each month. The ability to look at all my accounts on their web page is helpful now that i have set that up. The recent mortgage loan processing was amazing!.

    My real estate agent said he had never worked with a mortgage company that was so helpful and on top of the process from day 1. All my questions were answered within hours, emails within a couple of hours and phone calls, if not immediate, then within an hour or so. Paper work and money was exactly where it was expected and exactly on time. Rates were good and service was fantastic. Overall i would recommend this bank to anyone who can handle finances properly and knows how to use the internet.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By Lawrence T. Jun 1, 2012

    Best In Service For Over 15 Years On All Types Of Accounts. Recent Mortgage Loan Was Handled Professionally And Quickly

    I have had checking, savings and overdraft line of credit for over 15 years(Since 2001). I have also had cd's and other accounts on and off during the time. I have only had to contact them a few times during this time as all records, forms and statements have always been correct. The few times i have contacted them by email, i always have a response within 24 hours and usually within a couple of hours.

    The responses have always been professional and helpful in regards to my questions. Their savings rates are not the best, but are near the top. Their loan rates are a little high, but the service makes the cost worth while. Fees are there for some items, but i don't think i've paid any fees in the 10 years i've had the account and i get $10. 00 of atm fees back each month. The ability to look at all my accounts on their web page is helpful now that i have set that up. The recent mortgage loan processing was amazing!.

    My real estate agent said he had never worked with a mortgage company that was so helpful and on top of the process from day 1. All my questions were answered within hours, emails within a couple of hours and phone calls, if not immediate, then within an hour or so. Paper work and money was exactly where it was expected and exactly on time. Rates were good and service was fantastic. Overall i would recommend this bank to anyone who can handle finances properly and knows how to use the internet.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By dumbluck Dec 4, 2017

    IDIOTS, BUNCH OF LIARS - STAY AWAY FROM THEM

    HORRIBLE EXPERIENCE. We completed a refinance on our primary property in 2015, it was a breeze. In July 2017 we completed a purchase of an additional property, and the mortgage was completed. Now since October since we wanted to get a home equity line on our primary residence, they Idiots took over 45 days to just verify incomes. Even it clearly shows on our paystubs that incomes are verified and they received certification from Equifax proving our incomes to be accurate, just because our incomes were not split on the verification as our base incomes and overtimes, they would not consider the overtime incomes as valid incomes for our credit needs. Even after sending the income documents and proof on the 6th of November, they were still asking again stating that they never received it. We provided proof that everything was sent in, then they realized that it was sent before. After completing that, even on 30th November they are still on the step on verifying my wife's income and they won't consider her overtime income as a valid income, even though she has provable 5 years of consistent overtime incomes. Are you F-ing kidding me? Are you an arse-hole who would keep saying that after almost 45 days even after proving our incomes? They were just not interested in doing business with us as the bank is involved in selling the loans. They would not make any money of us as our credit scores are excellent, hence the bank would not speed up the process. Even after multiple attempts on getting to know what we would qualify for even without the overtime incomes, they would not even let us know what we qualified for? Are you DUMB? I have email proof and multiple calls to get that info, they would not give me that and only work on verifying incomes again and again. Why are we F-ing stuck at the same step, just say to us that we cannot approve you for a X-amount, but the Y-amount is available. So just F-ing spit out the right thing. IDIOTS AND ARSE-HOLES, NEVER DEALING WITH THESE IDIOT BUNCH AGAIN. We knew they were shady when they started giving reasons that were outrageous, it is good that we started working with BoA on the side, we are all set to close next week. First Internet Bank of Indiana - SHADY AND DISHONEST - STAY AWAY

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By psharding75 Sep 5, 2017

    Sub par / Less than poor - Zero stars....

    From the very beginning I had nothing but problems with First Internet Bank. When I decided to build my new home in November of 2015, I did extensive research on potential financial institutions. In the end I selected First Internet Bank based upon this research and the recommendation of my builder. I provided all of the requested documentation and did everything I was asked in order to pre-qualify and eventually obtained a mortgage. The staff had a number of delays and excuses then several months after taking possession of my home requested a final appraisal of my home which was highly irregular and something the bank should have done a long time ago. Several months later I received notice that I need to sign and provide a occupancy statement when the bank knew very well I resided in my home. I contacted the manager of the residential mortgage group who had no explanation as to why now after taking possession of my home in January 2017 eight months later I need to sign a statement indicating I resided in the home. Are you kidding me what type of financial institution does this? Not professional in the slightest. Today I received notice from First Internet via email from a member of its marketing team, indicating a Notice of Transfer indicating my mortgage has been sold to CMC Funding an organization I have never even heard of. A group that in itself has a multitude of complaints and seems to be very questionable to say the least. I can't believe First Internet Bank operates in this manner. To further insult me earlier this week the bank closed my online mortgage account reversed payments that were made this month and have yet to apply those payments to my mortgage balance. Questionable activity I believe since I was not notified of the payment reversal and its not reflected in my balanced as having been paid. I have proof of all payments processed by my financial institution. I am very dissatisfied and will be sure to let my builder and anyone I know not to consider First Internet for anything at all. What a horrible experience!

    Update 9/12/2017: So in addition to all of the issues with First Internet Bank the form letter regarding the transfer of the servicing of my loan had the incorrect principal and interest payment amount, did not list the property tax or insurance escrow amounts. When I brought this evidence to the attention of the bank they acknowledged the information was incorrect on the document I received via email and blamed the problem on a computer glitch. At this point, I have no idea if the correct information was sent to the new servicing organization since they have yet to contact me as well. So furious with the bank and their lack of customer service, attention to detail and failure to meet high customer service and integrity. It's a wonder they are still in business with this type of poor customer service.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By Kristina W. Apr 8, 2013

    On hold for 1h15min w/ no answer

    I read some decent reviews about this bank online and decided to give them a chance for a refinance. I scheduled a time to talk to a agent and when I called it went straight to voicemail and then I was put on hold waiting for next available rep for 1 HOUR and 15 MINUTES. It only ended because I hung up.
    Cannot trust to put my home in their hands.

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  •  
    Reviewed By dumbluck Dec 4, 2017

    IDIOTS, BUNCH OF LIARS - STAY AWAY FROM THEM

    HORRIBLE EXPERIENCE. We completed a refinance on our primary property in 2015, it was a breeze. In July 2017 we completed a purchase of an additional property, and the mortgage was completed. Now since October since we wanted to get a home equity line on our primary residence, they Idiots took over 45 days to just verify incomes. Even it clearly shows on our paystubs that incomes are verified and they received certification from Equifax proving our incomes to be accurate, just because our incomes were not split on the verification as our base incomes and overtimes, they would not consider the overtime incomes as valid incomes for our credit needs. Even after sending the income documents and proof on the 6th of November, they were still asking again stating that they never received it. We provided proof that everything was sent in, then they realized that it was sent before. After completing that, even on 30th November they are still on the step on verifying my wife's income and they won't consider her overtime income as a valid income, even though she has provable 5 years of consistent overtime incomes. Are you F-ing kidding me? Are you an arse-hole who would keep saying that after almost 45 days even after proving our incomes? They were just not interested in doing business with us as the bank is involved in selling the loans. They would not make any money of us as our credit scores are excellent, hence the bank would not speed up the process. Even after multiple attempts on getting to know what we would qualify for even without the overtime incomes, they would not even let us know what we qualified for? Are you DUMB? I have email proof and multiple calls to get that info, they would not give me that and only work on verifying incomes again and again. Why are we F-ing stuck at the same step, just say to us that we cannot approve you for a X-amount, but the Y-amount is available. So just F-ing spit out the right thing. IDIOTS AND ARSE-HOLES, NEVER DEALING WITH THESE IDIOT BUNCH AGAIN. We knew they were shady when they started giving reasons that were outrageous, it is good that we started working with BoA on the side, we are all set to close next week. First Internet Bank of Indiana - SHADY AND DISHONEST - STAY AWAY

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By Laurel Mar 15, 2013

    Good experience with getting a mortgage

    We recently closed on a home loan with First American and were very pleased with the service we received. Rates and fees were as advertised - no big surprises at the end. Our loan officer moved the process along efficiently and we closed on time.

    My partner and I both have excellent credit and we put down enough of a down payment to not need mortgage insurance, so perhaps that helped things along. We were both new in our jobs but otherwise had stable work histories, and apart from student loans, had no debt.

    I definitely recommend their staff -- they were very responsive by email and phone and were very pleasant. First Internet also has some decently technology options, including an internet site where you can upload documents securely (note that it does not work with Macs though). Faxing also works well.

    It is my understanding that they will usually sell your loan pretty soon after approval, so it will be serviced by someone else. I don't have a problem with that - in my experience, most lenders are pretty similar and it won't change my rates any.

    Overall, I give First Internet high marks and would definitely recommend them for mortgage loans.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By Lawrence T. Jun 1, 2012

    Best In Service For Over 15 Years On All Types Of Accounts. Recent Mortgage Loan Was Handled Professionally And Quickly

    I have had checking, savings and overdraft line of credit for over 15 years(Since 2001). I have also had cd's and other accounts on and off during the time. I have only had to contact them a few times during this time as all records, forms and statements have always been correct. The few times i have contacted them by email, i always have a response within 24 hours and usually within a couple of hours.

    The responses have always been professional and helpful in regards to my questions. Their savings rates are not the best, but are near the top. Their loan rates are a little high, but the service makes the cost worth while. Fees are there for some items, but i don't think i've paid any fees in the 10 years i've had the account and i get $10. 00 of atm fees back each month. The ability to look at all my accounts on their web page is helpful now that i have set that up. The recent mortgage loan processing was amazing!.

    My real estate agent said he had never worked with a mortgage company that was so helpful and on top of the process from day 1. All my questions were answered within hours, emails within a couple of hours and phone calls, if not immediate, then within an hour or so. Paper work and money was exactly where it was expected and exactly on time. Rates were good and service was fantastic. Overall i would recommend this bank to anyone who can handle finances properly and knows how to use the internet.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By Laurel Mar 15, 2013

    Good experience with getting a mortgage

    We recently closed on a home loan with First American and were very pleased with the service we received. Rates and fees were as advertised - no big surprises at the end. Our loan officer moved the process along efficiently and we closed on time.

    My partner and I both have excellent credit and we put down enough of a down payment to not need mortgage insurance, so perhaps that helped things along. We were both new in our jobs but otherwise had stable work histories, and apart from student loans, had no debt.

    I definitely recommend their staff -- they were very responsive by email and phone and were very pleasant. First Internet also has some decently technology options, including an internet site where you can upload documents securely (note that it does not work with Macs though). Faxing also works well.

    It is my understanding that they will usually sell your loan pretty soon after approval, so it will be serviced by someone else. I don't have a problem with that - in my experience, most lenders are pretty similar and it won't change my rates any.

    Overall, I give First Internet high marks and would definitely recommend them for mortgage loans.

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By dumbluck Dec 4, 2017

    IDIOTS, BUNCH OF LIARS - STAY AWAY FROM THEM

    HORRIBLE EXPERIENCE. We completed a refinance on our primary property in 2015, it was a breeze. In July 2017 we completed a purchase of an additional property, and the mortgage was completed. Now since October since we wanted to get a home equity line on our primary residence, they Idiots took over 45 days to just verify incomes. Even it clearly shows on our paystubs that incomes are verified and they received certification from Equifax proving our incomes to be accurate, just because our incomes were not split on the verification as our base incomes and overtimes, they would not consider the overtime incomes as valid incomes for our credit needs. Even after sending the income documents and proof on the 6th of November, they were still asking again stating that they never received it. We provided proof that everything was sent in, then they realized that it was sent before. After completing that, even on 30th November they are still on the step on verifying my wife's income and they won't consider her overtime income as a valid income, even though she has provable 5 years of consistent overtime incomes. Are you F-ing kidding me? Are you an arse-hole who would keep saying that after almost 45 days even after proving our incomes? They were just not interested in doing business with us as the bank is involved in selling the loans. They would not make any money of us as our credit scores are excellent, hence the bank would not speed up the process. Even after multiple attempts on getting to know what we would qualify for even without the overtime incomes, they would not even let us know what we qualified for? Are you DUMB? I have email proof and multiple calls to get that info, they would not give me that and only work on verifying incomes again and again. Why are we F-ing stuck at the same step, just say to us that we cannot approve you for a X-amount, but the Y-amount is available. So just F-ing spit out the right thing. IDIOTS AND ARSE-HOLES, NEVER DEALING WITH THESE IDIOT BUNCH AGAIN. We knew they were shady when they started giving reasons that were outrageous, it is good that we started working with BoA on the side, we are all set to close next week. First Internet Bank of Indiana - SHADY AND DISHONEST - STAY AWAY

    Continue reading...
    Thank you for your feedback Is this review helpful?
  •  
    Reviewed By ashat Oct 17, 2017

    Best Rates and excellent customer service!!

    I wanted to thank you for the excellent service you provided in our re-financing. We were working with another lender and were unhappy with the rate and high closing costs. We just came across your company as a suggestion from creditkarma. We are so glad we found your bank. Mike Watson being our loan officer was very efficient, communicated with us even in late hours and make the whole loan process so smooth and easy. We wanted to close the loan by the end of the month, and he made sure it happened. He was fantastic and did everything he promised.
    Glenda Quigley, our loan processor efficiently processed all our loan documents very quickly. Thanks to First Internet Bank team who worked with our loan. We are extremely happy and satisfied with your service, with the interest rates we got and the low closing costs. We will definitely recommend your Bank to our friends. You truly are great at what you do. Thanks again.

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