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First Internet Bank Interest Checking account review

It earns a competitive 0.3% APY, but watch out for the monthly fee.

The First Internet Bank Interest Checking account offers a competitive APY and you won’t have to worry about meeting certain requirements to earn the highest rate. But there’s a $10 monthly fee and you’ll need to use First Internet Bank deposits or envelopes to deposit cash.

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$10 per month





Minimum deposit to open


Fee$10 per month
To waive the fee$500 average daily balance
Minimum deposit to open$100
ATMsIt reimburses up to $10 in rebates
ATM fee rebatesUp to $10 per month

Review by

Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.

Expert review

The First Internet Bank Interest Checking account offers ATM fee reimbursements, cash deposits and a competitive interest rate at 0.3% APY.

But you’ll have to keep at least $500 in your account to avoid its $10 monthly maintenance fee. And unlike other banks that don’t require deposit slips, this one does. You’ll need to use a First Internet Bank deposit slip for ATM deposits and deposit envelopes when you mail funds.

How do I open a First Internet Bank Interest Checking account?

Sign up in nine steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the provider site, under Personal Banking, select Let’s Go
  3. Under Checking & Debit, click or tap Learn More
  4. Hit Open An Account and Get Started
  5. Choose Interest Checking in the dropdown menu
  6. Enter your email address and phone number
  7. Read and check the disclosure boxes
  8. Scan your driver’s license or input the data manually
  9. Follow the prompts to fund and complete your account


To open a First Internet Bank Interest Checking account, you’ll generally need to meet these requirements:

  • US citizen or resident
  • At least 18 years old
  • An external bank account or credit card to initially fund your account

Required information

First Internet Bank requires the following information for your application:
  • Social Security number
  • Government-issued ID

What are the benefits of a First Internet Bank Interest Checking account?

Here’s what sets First Internet Bank apart from the competition.

  • Deposit cash. Unlike many online banks that restrict cash deposits, First Internet Bank has no restrictions on which ATMs you deposit your money into. But cash deposited at ATMs may be subject to a hold by the ATM owner.
  • Competitive interest rate. While First Internet Bank’s 0.3% APY isn’t the highest we’ve seen for an interest checking account, it’s still seven times the national average of 0.04% APY.
  • ATM fee reimbursement. If you withdraw cash from an ATM that charges a fee, First Internet Bank will reimburse you if you incur a fee — up to $10 per month.
  • Extended customer service hours. While most banks generally operate weekdays from 9 a.m. to 5 p.m., First Internet Bank has extended hours — weekdays 7 a.m. to 9 p.m. ET and Saturdays from 9 a.m. to 3 p.m.
  • Overdraft protection. By adding this feature and linking your account to a money market or savings account, you can avoid incurring an NSF fee and your account can make sure your transactions clear even if your balance drops below $0.

First Internet Bank‘s ATM network and fees

You can withdraw or deposit money at any ATM in the US. First Internet Bank doesn’t charge a fee for ATM transactions. And if the ATM owner does, First Internet Bank will reimburse you for the costs — up to $10 per month.

What should I look out for?

Consider the following potential drawbacks before signing up for a First Internet Bank Interest Checking account.

  • Minimum opening deposit. The minimum amount to open an account is $100, which is significantly more than its Free Checking account that only requires $25.
  • Monthly maintenance fee. Interest Checking has an account maintenance fee of $10 per month. But you can waive it if you keep an average daily balance of at least $500.
  • No physical branches. You can’t visit a branch for help. You’ll need to call the bank or chat with a representative through live chat or email. And for live chat, you’ll need to continuously refresh the page until a representative becomes available.

If you don’t want to worry about avoiding a monthly fee, consider exploring free checking account options.

Compare First Internet Bank Interest Checking with other checking accounts

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Aspiration Spend & Save Account
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Aspiration Spend & Save Account
5.00% on balances of $0 to $10,000
55,000 free in-network ATMs
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
Chase Secure Banking℠
Chase Secure Banking℠
Access to 16,000 ATMs and more than 4,700 branches nationwide
Chase Secure Banking offers no overdraft services
Finder Rating: 4 / 5: ★★★★★
more than 38,000 ATMs in the MoneyPass ATM network
The Douugh app is an AI assistant focused on your finances.
Finder Rating: 4.8 / 5: ★★★★★
1.20% on balances of $0 to $50,000
0.25% on balances of $50,000.01+
more than 85,000 ATMs nationwide
OnJuno embraces an open banking system for everyone, regardless of their age, location, or income.
Finder Rating: 4.7 / 5: ★★★★★
32,000 fee-free ATMs nationwide
Freelancers get paid up to two days early and can automatically set aside money for taxes with the Lili digital bank account. Get up to 10 referral rewards, or $1000.

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How do I deposit or withdraw my money?

There are numerous ways to access your hard-earned cash in your First Internet Bank Interest Checking account.


  • ACH transfer
  • Mailed checks using its printable deposit slips and pre-paid envelopes
  • Remotely deposit checks using iScan or its mobile app
  • Direct deposit
  • Wire transfer
  • Cash deposits to ATMs that accept them, including Plus ATMs
  • Zelle payments


  • ACH transfer
  • Wire transfer
  • ATM with your debit card
  • Bill pay
  • Zelle payments

What other checking options does First Internet Bank offer?

Besides First Internet Bank Interest Checking, First Internet Bank also offers a Free Checking account, which requires a $25 opening deposit and has no monthly maintenance fee. But it doesn’t earn interest or have an ATM fee rebate. It also offers a Small Business Checking account with unlimited transactions, no monthly fees and 0.3% APY.

Frequently asked questions

How do I add overdraft protection to my checking account?
When you sign up for a new First Internet Bank Interest Checking account, you’ll have the option to request overdraft protection. If your account is already open, you can request overdraft protection by contacting a Relationship Banker at 888-873-3424.

How do I order checks?
New customers automatically get their first order of checks for free. You can request more checks through Online Banking.

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