Frequently asked questions

To receive your accurate loan payoff amount, please contact our Loan Servicing team at 1‑855‑271‑6306. This ensures your final payment fully satisfies your remaining loan balance. You may then process your payoff securely over the phone using a debit card or ACH with your bank account and routing number. If you prefer to move funds from an existing account through online banking, simply let our representative know and they’ll walk you through the steps. If your loan is secured—such as by a vehicle or other collateral—we’ll also review the process for releasing any security documents once your payoff has been completed.

The fastest way to deposit a check is using the First IB mobile app.  Once you sign in, select the “Deposit” icon at the bottom of the main page, then just follow the prompts. 

Down payment requirements can vary based on several factors, including loan-to-value (LTV), the age of the vehicle, the loan amount, and the type of vehicle. In some cases, such as when a vehicle is valued at $75,000 or higher, a 10% down payment is required. Please note, that a down payment is not always required. For questions specific to your situation, please contact our Consumer Lending team at 855-749-7930.

First Internet Bank does not charge any fees for depositing funds by ACH, ATM or mobile deposit. However, the ATM you use may charge a fee.

No, you do not need a deposit account to apply for a loan. However, there are a few advantages to having a deposit account with First Internet Bank in addition to your loan. Customers with a deposit account may receive a lower interest rate, enjoy the convenience of making payments through online banking transfers, and gain quicker access to their loan funds.

To cancel or change your transfer request, click into the account you are transferring from, you will see your scheduled transfers under “Scheduled and pending transactions”. Click the three dots on the right-hand side of the scheduled transfer, select “Edit” or “Delete”. 

If you are trying cancel a transfer request on the scheduled date, you may modify the request any time before the cutoff time (4:00 PM EST). Once your request has been transmitted to ACH, you cannot cancel the transaction.   If you missed the cutoff, your best option is to request a second transfer between the same two accounts sending the funds back to its point of origin (in effect, reversing your first transfer).

Personal and business checks generally “expire” after 6 months (180 days) from the date issued, though some may have “void after 90 days” printed on them. First IB does not accept checks over 180 days.

Business Incoming Wire: $15

Business Outgoing Domestic Wire: $20

Outgoing International Wire in USD: $50

First Internet Bank does not limit withdrawals from Money Market or Savings Accounts.

You can make extra payments to escrow (or principal) in several ways:

Online or Mobile App: When making a payment, select whether any additional amount should be applied to escrow only or principal only.

By Mail: Write “escrow only” or “principal only” on the check memo line or note it on the payment coupon or statement stub.

By Phone: Call our loan servicing team to make an ACH payment, and we can apply the extra amount to escrow only or principal only at your request.  Loan servicing at 855-271-6306. 

Be sure to clearly indicate how you want the extra payment applied to ensure its processed correctly.