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Common Questions
To request electronic statements, log in to your online banking account. Click Additional Services, select Bills, Statements & Tax Forms and follow the on-screen prompts to confirm your account ownership. You will also have to accept the terms and conditions for receiving your statements electronically.
You will have the opportunity to request overdraft protection on your account application when you open a new First Internet Bank checking and/or savings account. Please specify how you would like the accounts to be linked if you have more than one checking and/or savings account. If your accounts are already open, contact a Relationship Banker at 1-888-873-3424 for assistance.
If you would like to be considered for an overdraft line of credit, you will have the opportunity to apply for it through the checking account application. An overdraft line of credit is subject to credit approval.
If your checking account is already open but you did not ask to be considered for an overdraft line of credit with your account application, you may make the request through the online banking site. Log in to your online banking account, click Additional Services, select Open Deposit Accounts, choose the Overdraft Line of Credit for existing checking option from the drop-down menu and click the Proceed button to advance to the online application. Complete and submit the application electronically. Once the application has been submitted, print, sign and return the confirmation screen to us via fax at 1-888-644-8678. You will receive a decision within two business days.
Streamline your organization’s cash outflow with multiple options for disbursements:
- ACH (Automated Clearing House) disbursements
- Wire transfer services
- Corporate credit card
- Commercial bill pay
If you have another account with First Internet Bank and wish only to close one account, you may transfer the entire balance of the account you wish to close to your other account. Or, if you have an ATM card, debit card or checks for your account, you may withdraw the entire balance of your account.
We will send the balance of your account in the form of a bank check.
APY stands for Annual Percentage Yield, a measure of the total amount of interest paid on an account, based on the interest rate and frequency of compounding. It is considered the effective, or true, annual rate of return. The APY is the rate actually earned or paid in one year, taking into account the effect of compounding. Learn more.
There is a fee to receive a paper account statement, unless you opt to receive your statements electronically. (Customers with only an installment loan are exempt from the fee. Customers who have a CD with First Internet Bank and no other type of account will not receive an account statement and are therefore exempt from the fee as well.)
You retain physical control and responsibility for the check. Do not send it to First Internet Bank or negotiate the item anywhere else unless instructed to do so by a First Internet Bank representative. You are responsible for storing the check for a reasonable period of time, not to exceed 90 days, and then destroying the item.
Interest you earn on a First Internet Bank deposit account is taxable, and you should report interest earnings to the IRS each year. If you fail to report interest, the IRS will notify you that you are subject to backup withholding. During the application process, we ask you to disclose whether you are subject to backup withholding. If you are, we will withhold 31% of the interest you earn. We will not withhold interest otherwise.
Paying your loan balance in full — including accrued interest — will close any installment loan. We will release any security documents (i.e., car or boat titles) 7 business days after we receive your payoff by check or ACH (over the phone), 1 business day through a wire payoff. To determine your payoff amount, please contact a First Internet Bank Relationship Banker at bank@firstib.com or 1-888-873-3424.
Fees for bill payment depend on the type of account you have.
Interest Checking: no monthly fee, no per-transaction fees
Free Checking: no monthly fee, unlimited transactions
Business Checking: no monthly fee, unlimited transactions
Please be aware that certain other fees, such as fees for non-sufficient funds (NSF) or stop payment requests, also apply and will be charged according to our then-current fee schedule.