SmartMoney Magazine Declares First Internet Bank Tops for Products and Services

Released on March 20, 2000

Posted in:

SmartMoney, the Wall Street Journal magazine of personal finances, has ranked First Internet Bank first for Essential Products and Services among the 18 banks surveyed for an article appearing in the April 2000 issue of its magazine.

According to the article, First Internet Bank, “…a state-chartered, FDIC-insured virtual bank, offers everything you’d expect from a large traditional bank…” In fact, First IB shares top honors for products and services with Wells Fargo, a $200 billion financial institution. By contrast, First IB controls over $150 million in assets after just one year of operations.

Of the ranking, First IB Chairman and CEO David Becker remarked, “This ranking is tremendously satisfying to all of us at First Internet Bank. We have made it our mission over the past year to show consumers that an Internet bank can, and does, offer everything a brick-and-mortar bank has, without the high overhead.”

First IB offers an impressive product lineup that includes checking, money market savings, certificates of deposit, IRAs, personal loans, bill payment services, credit cards, and ATM and check cards. Complete information on the Bank’sproducts and services are available through its website.

SmartMoney article cites First IB’s free bill payment service and Interest Checking account as two attractive features, the opportunity for customers to make deposits at participating MAC® ATMs vaulted First IB ahead of other Internet-based banks.

“The first question many consumers ask when they hear about First IB is, ‘How do I make deposits?’” Mr. Becker noted. “We take great pride in making not just the deposit process, but the entire banking operation, as simple and convenient as possible for our customers.”

While customers can always make deposits at the Indianapolis headquarter office, First IB also accepts deposits via ATM, ACH, mail, direct deposit, VISA, and wire transfers. Complete information on making deposits is available at the Bank’s website.

SmartMoney also gave First IB strong ratings for fees, security, and account information but marked the Bank down for not offering around-the-clock live support. In response, Becker explained, “Right now, we do not have a demand for 24-hour support. Everyone likes to talk about being able to bank at 2 in the morning, but the reality is, most people use online banking during the lunch hour. That’s when our site traffic and call volume are heaviest, and we staff accordingly.”

Becker also pointed out that SmartMoney and Money magazine, which also featured a story on online banks in its April issue, both applauded First IB’s customer service for the turnaround and quality of responses to blind inquiries.

In addition, First IB offers extensive online help available through its website, allowing customers to handle many routine inquiries and functions, such as wire transfers or check stop payments, without the assistance of a bank representative.

As David Becker remarked, change is the only constant at First IB. Over the last year, First IB has enhanced and expanded its product offering continuously. “We’d like to keep making our services better and better for the customer. To do that, we have to do more than meet the current needs of our customers. We have to anticipate the next request.”

About First Internet Bank of Indiana

Based in Indianapolis, Indiana, First Internet Bank of Indiana offers significant customer benefits over traditional retail banks, including real-time processing of all transactions and services available 24X7 via the Internet, ATMs, and touch-tone phone.

The first state-chartered, FDIC-insured bank to operate solely over the Internet, First IB launched its services in February of 1999. Since its launch, First IB has consistently rated among the top Internet banks according to Gomez Advisors, an independent Internet research firm. The Bank is privately held.

X

It's Different Here!

X

Save Money on Your Mortgage!

Get Your FREE Custom Rate Quote in 3 Simple Steps

CUSTOM RATE QUOTE

Step 1

Step 2

Step 3

Get Your Quote

Save Money on Your Mortgage!

Get Your FREE Custom Rate Quote in 3 Simple Steps

Highly likely to recommend

Seamless Experience - John, Arkansas

“I found First IB online. I was a little skeptical at first, but I couldn't have been more wrong! We were moving from MI to AR, working with a different realtor on each end, and First IB made the purchase of our new home seamless. The...mortgage we received is piece of mind for the future and we couldn't be more satisfied with the service... “

Highly likely to recommend

Worked Around My Schedule - Sean, Missouri

“My experience with First Internet Bank was amazing. Everything was done as quickly as possible and there was help every step of the way. I was busy traveling for work and they were able to keep me updated and work around my schedule. I would highly recommend First Internet Bank.”

Highly likely to recommend

Best Lender Experience - Ryan, Arizona

“This was the first time I've used an online lender and I would definitely use First IB again...The local lenders warned that I wouldn't get personal service using an online lender and warned me against it. I'm glad I ignored them because my experience was one of the best I've had with a lender. I wouldn't hesitate to use this lender again!“

Get Your Free Personalized Rate Quote

Step 1

Step 2

Step 3

Credit Profile

Property Use

Home Value

Current Mortgage
Balance

Down Payment

Desired Loan Amount

Get Your Free Personalized Rate Quote

Step 1

Step 2

Step 3

Contact Information

* Indicates a required field.

Thanks for your request from First IB

Thanks for requesting a rate quote from First Internet Bank! We will contact you shortly to provide your personalized rate quote and one-on-one consultation.

To speak with a mortgage expert immediately, call us toll-free at 1-855-707-2775. You can also check the latest rates on our website.

We look forward to speaking with you soon!

Return To Website