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Common Questions
The date on which payments will be debited from your account depends upon the payment method. For payments that are made by corporate check or electronically, your account will be debited on the scheduled payment date. Payments that are issued by laser check will be drawn on your checking account on the day the check clears. The check will usually clear on or after the payment due date you had entered.
Please remember, it is your responsibility to ensure there are sufficient funds available in your account to cover the payment, regardless of the payment mechanism. If your account does not contain sufficient available funds, you will be charged a fee, and your bill payment service may be subject to cancellation.
No. First Internet Bank is a de novo (startup) bank and is a wholly owned subsidiary of First Internet Bancorp. It is not owned by any other financial institution.
First Internet Bank checking, savings, Certificate of Deposit (CD) and IRA accounts are insured through the Federal Deposit Insurance Corporation (FDIC). Insurance coverage for checking, savings and CD accounts is $250,000. All transactions and agreements on the site noted above are solely negotiated between you and the corresponding service provider. First Internet Bank neither expresses nor implies any responsibility for such agreements or transactions. You may wish to consult the privacy disclosures on the FDIC site before transacting with this third party.
First Internet Bank will send through US mail a reminder of your CD maturity approximately one month in advance of your maturity date. If you use the online banking site, you may also use the personal reminder option to request an electronic reminder prior to maturity. Click Manage Money, select Mobile Banking & Alerts and click Add an alert. If you do nothing, your First Internet Bank CD will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The rate on the new CD will be the rate in effect for that term on the maturity date.
If you choose not to renew the CD, you will have a grace period of ten (10) calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty. If you notify us prior to the maturity date that you do not wish to renew the CD, we will close the CD on the maturity date and follow your provided instructions.
To add a joint account holder to your First Internet Bank account, you’ll need to complete the Add a Joint Account Holder form. Log in to your online banking account, and go to Support > Send a secure message. We will send you a DocuSign to complete.
You may transfer balances from other credit cards up to the available credit on your First Internet Bank credit card. There is no fee to transfer balances, but interest will begin to accrue on the transfer amount immediately. (There is no grace period on balance transfers.) You may request a balance transfer when you apply for a First Internet Bank credit card. If you already have a First Internet Bank credit card, log in to your online banking account, click Additional Services and select Request Balance Transfers.
If you do not have online banking access, call a Relationship Banker at 1-888-873-3424 or fax to 1-888-644-8678 your name, account or card number, company name holding the account to be transferred (if applicable), payment mailing address and dollar amount to be transferred.
Log in to your online banking account, and go to Support > Send a secure message. We will send you a DocuSign to complete.
Important note: CDs are subject to an early withdrawal penalty prior to maturity. We will send the balance of your CD, less any applicable early withdrawal penalty. If you are requesting that we send the balance to an address other than the address we have on file, the primary account holder must sign the request.
Items submitted through Remote Deposit Capture by 3:00 PM Eastern Standard Time on a business day, and accepted by First Internet Bank, will be credited by 6:00 PM Eastern Standard Time that same day. Items submitted after 3:00 PM Eastern time on a business day, or those made on non-business days, will be credited by 6:00 PM Eastern time on the next business day. As with any check deposit, a funds availability hold may be placed against items deposited through Remote Deposit Capture. Please refer to the Funds Availability Policy for details.
The billing cycle begins on the sixth (6th) day of the month and ends on the fifth (5th) day of the following month. Payment is due by the fourth (4th) day of the following month.
To help you manage your deposits and liquidity, we offer several account options:
- Analyzed and Premium Checking
- Zero balance accounts
- Public and non-profit solutions