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First Internet Bank Small Business Checking account review

An interest-bearing small business checking account with unlimited transactions. But its deposit system is clunky.

The First Internet Bank Small Business Checking account is a solid option for small businesses. It has no monthly service fees, minimum opening deposit and minimum balance requirements, so you can focus more on your company and worry less about your bank account. But unlike the intimate, small business approach, it offers no in-person customer support.

$0 per month





Minimum deposit to open


APY0.30% on balances of $10,000+
Fee$0 per month
Minimum deposit to open$0
ATMsUp to $10 ATM fee reimbursements a month, plus free access to the ATM Plus Network
ATM transaction fee$0
ATM fee rebatesGet reimbursed up to $10 per month in ATM fees
Out-of-network ATM fee$0
Foreign transaction fee2%

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

First Internet Bank Small Business Checking has some all-star features, including unlimited transactions, no monthly service fees and no minimum balance. Plus it integrates with accounting tools like Quickbooks.

You’ll also earn 0.3% APY, but you’ll need to maintain a balance of $10,000 or more in your account.

And although it doesn’t have an ATM network, you’ll get ATM reimbursements for any fee you may incur from the ATM owner up to $10 a month. Its major con is that there are no physical branches, but if you don’t typically need to bank in person this might not be a deal breaker.

Plus, you have many other contact options you might need: You have the option to call, start a live chat or send First Internet Bank an email.

How do I open a First Internet Bank Small Business Checking account?

Sign up for the account online on your computer or mobile device. Here’s what the process looks like on a computer:

  1. Click Apply now.
  2. Choose Business in the menu bar.
  3. Hover over Deposits and select Small business checking.
  4. Select Apply online.
  5. Verify that you meet the account criteria and confirm the banking product you’re applying for.
  6. Enter your email and phone number.
  7. Fill in your business information, including tax ID and address, and follow the prompts to finish the application.


To open a First Internet Bank Small Business Checking account on behalf of your business, you’ll need to meet these requirements:

  • Legal US resident
  • At least 18 years old
  • US-based business

Required information

The application will require the following information:

  • Government-issued ID for each account holder
  • Names of all signers who are authorized to open accounts on behalf of the business
  • Names of all beneficial owners — someone who owns at least 25% of the company or runs the business, such as the CEO
  • Legal documents for the business

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

There are several standout features for this First Internet Bank Small Business Checking account:

  • No monthly service fee. You won’t pay a dime to maintain your business checking account.
  • No minimum opening deposit. While you don’t have to deposit funds into your account to open it, we spoke to a customer rep who recommended funding your account to get your debit card.
  • ATM fee reimbursement. First Internet Bank will cover any ATM fees you might incur up to $10 per month.
  • Competitive APY. Earn 0.3% APY as long as you maintain a balance of $10,000 or more in your account.
  • Unlimited transactions. While some business bank accounts limit your monthly transactions, First Internet Bank doesn’t cap you.
  • Account management. Conveniently manage your money with shared account access and QuickBooks integrations.
  • Cash deposits. Although First Internet Bank is an online-only bank, you can deposit cash into any ATM that accepts cash deposits, such as a Visa Plus ATM. Your money may be subject to a hold by the ATM owner.

What should I look out for?

Be aware of these drawbacks before opening an account:

  • No physical branches. While you can visit First Internet Bank’s corporate headquarters, customer service is primarily delivered through email, live chat and phone.

First Internet Bank’s ATM network and fees

First Internet Bank doesn’t have an exclusive network of ATMs. We spoke to a customer representative who told us that the ATM Plus Network is a free option for First Internet Bank customers. However, any domestic ATM will give you access to your money. First Internet Bank won’t charge you an ATM fee and if the ATM operator does, you’ll get reimbursed for the fee — up to $10 per month.

Compare First Internet Bank Small Business Checking with other business checking accounts

Take a look at a few other business checking accounts by comparing monthly service fees, minimum opening deposits and ATMs.

Name Product Fee Minimum deposit to open ATMs
NorthOne Business Banking
$10 per month
withdraw cash at any Cirrus branded ATM location (+1,000,000 locations accross the U.S + 2m worldwide), including MoneyPass ATMs

A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
First Internet Bank Small Business Checking
Up to $10 ATM fee reimbursements a month, plus free access to the ATM Plus Network
No minimum balance and no monthly service fee. Make unlimited deposits. Get reimbursed up to $10 per month in ATM fees
Chase Business Complete Banking℠
$15 per month
(can be waived)
over 16,000 in-network ATMs
This Chase business checking account has built-in card acceptance using a smartphone card reader. $300 bonus offer
Axos Bank Business Interest Checking
$10 per month
(can be waived)
ATM fees reimbursed at any ATM nationwide
Earn up to 0.81% APY and pay no monthly maintenance fee with an average daily balance of at least $5,000.
$4.99 for Lili Pro
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.

Compare up to 4 providers

How do I deposit or withdraw money?

First Internet Bank offers a variety of ways to access cash from your small business account.


  • ACH transfer
  • Direct deposit
  • Wire transfer
  • Remote check deposit via iScan or its mobile app
  • Mailed checks using its prepaid envelopes
  • Cash deposits to any ATM that accepts it, including Plus ATMs


  • ATM withdrawal
  • ACH transfer
  • Wire transfer
  • No-fee bill pay

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 First Internet Bank Small Business Checking account with unlimited transactions, no monthly fees and 0.3% APY.

A Commercial Checking account has several more features than a Small Business Checking account:

  • A dedicated team of banking experts. A deposits team exclusively for Commercial accounts.
  • Zero balance accounts. Maintain a balance of zero dollars and transfer funds when you need them.
  • Sweep services. Automatically deposit funds to pay down a line of credit.
  • Check positive pay. Deter check fraud by matching checks against your company’s information.

How to contact First Internet Bank customer service?

You can speak to a First Internet Bank representative by:

  • Calling 888-873-3424 weekdays 7 a.m. to 9 p.m. EST and Saturdays 9 a.m. to 3 p.m. EST.
  • Live chatting with a Relationship Banker.
  • Sending a secure email on the First Internet Bank’s Contact us page or emailing

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