Frequently Asked Questions - First Internet Bank

Frequently Asked Questions

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What information do I need in order to set up direct deposit to my account?

Typically, you’ll need to provide the sender (your employer, for instance) with the bank’s name, our routing and transit number (074014187) and your nine-digit account number. Sometimes, the sending company may require that you provide a voided personal check as well as First IB's phone number (317-532-7900). If the sender requires additional information, a First IB Banking Specialist will be happy to help.


What are the requirements for my online banking password?

Your online banking password ensures that only you can access your confidential information. Your password must more then 6 characters, is case sensitive, and must contain a mix of letters, numbers and special characters (!@#$ etc.) but cannot contain spaces.Please remember this password and keep it secure. If you forget your password, you will have to be reset.Everyone is juggling a lot of passwords these days. Still, your password is one of the most important defenses you have for protecting your account information! Here are some tips for choosing (and protecting) a strong password:Try to memorize the password, and avoid writing it down. Somebody could very easily find the slip of paper that the password is written on.Mix letters, numbers and symbols, and use case sensitivity (upper and lower case letters). This makes it harder to “crack” your password. (For instance, instead of "password," try "pAsS34%(6*2woRd," etc.)Find a good way to remember. A good way to do this is to choose the first letters of a sentence that you will remember. e.g. "I have 2 dogs called Rover and Fido" gives: Ih2dcRaF.Use punctuation to your advantage. To incorporate punctuation into the previous example, remember the sentence as "I love my 2 dogs Rover and Fido!", which would give: Ilm2dRaF!Avoid:The name or birth date of your spouse, child, pet, or other loved oneSocial Security or phone numbersAny part of your physical addressOther information that is easily obtained about you (your alma mater, mother’s maiden name, or past address, for instance)Any username on the computer in any formA word in the English or foreign dictionaryA password used on another siteAny of the above spelled backwardsSequences: “12345678,” “abcdefg” or passwords that could easily be advanced:“January2011,” “February2011,” “March2011,” etc.Above all… Do not share your password with anyone! The employees of First Internet Bank do not need your online banking password in order to answer your questions or troubleshoot your account.


Does my online banking password expire?

Your online banking password does not expire. You may change your online banking password at any time through the My Settings link in online banking. Once you click on My Settings you can update your password under Login Security by clicking the update link on the line entitled "Password".


What is the mailing address for First IB?

Please send deposits, loan payments, and other correspondence to:

First Internet Bank
P.O. Box 80508
Indianapolis, IN 46280

For overnight deliveries, please use our street address:

First Internet Bank
8888 Keystone Crossing
Suite 1700
Indianapolis, IN 46240


What is the daily withdrawal limit for ATM withdrawals?

The daily withdrawal limit for ATM withdrawals is $750 per day. ATM owners may place lower limits on the amount you can withdraw in a single session.


What is the routing number for First IB?

First IB’s routing number is 074014187.

Personal Banking


How can I avoid paying fees for my everyday banking needs?

If you thought Free Checking was just the stuff of urban legends, or that you have to keep thousands of dollars in your account to avoid a fee, this will make you a believer: First Internet Bank offers a Free Checking account with no monthly maintenance fee and free debit card access. If you can keep an average balance of just $500, take a look at our Interest Checking account, which comes with some nice extras like ATM fee rebates and free online bill payment.


How do I make deposits to my personal account?

In today’s wireless world, you no longer have to make deposits in person. First IB offers multiple ways to deposit your funds. Learn more in this brief video.


How can your rates be so good?

Chances are, with direct deposit and ATMs, you probably don’t visit bank branches that often anyway… so why pay for something you don’t use? First Internet Bank is a pioneer in the “direct banking” model. We’ve been around since 1999. Without a costly branch network, we pass our savings on to you in the form of great rates and low fees. We’ve loaded up our online banking site with tools and resources to help you manage your money more easily and make smart financial choices for your future. When you have a question, an experienced Banking Specialist is here to help – by phone, email or online chat.

Loans & Lines of Credit


What Commercial Banking services does First IB provide?

First IB Commercial Banking offers new and refinanced working capital lines of credit, equipment loans, acquisition/expansion loans, owner-occupied and investment commercial real estate loans, SBA loans and commercial credit cards.Our experienced Commercial Relationship Bankers can offer flexible loan structures that are tailored to your company’s needs. Our treasury management product suite includes commercial online banking, ACH and wire origination, sweep and zero balance accounts, remote deposit capture and commercial mobile banking. First IB offers real-time processing of all transactions which means no delays on inter-account transfers and debit and credit transactions.



How do FHA and VA loans differ from conventional loans?

Not every lender can offer “government” loans, but First Internet Bank does. FHA and VA loans are insured and administered by the federal government. FHA and VA loans generally require lower down payments and have lower qualification requirements than conventional loans. (Only qualified veterans can obtain VA loans.) Additionally, FHA and VA loans have established maximum loan amounts that limit the amount an individual can borrow.

There are conventional loan programs that allow for low down payments. It is always a good idea to talk to a First IB loan expert, who can help you compare all eligible loan programs to determine which is best for your situation.

Learn more about the various loan programs we offer. Learn more about the various loan programs we offer.


When should I lock in my interest rate?

Mortgage interest rate movements are as hard to predict as the stock market. No one can really know for certain whether they'll go up or down, and they may change several times within a single day. If rates are on an upward trend, then you'll want to consider locking the rate as soon as you are able. Before you lock your rate, talk to your mortgage loan officer for help in choosing the right rate lock period for your situation.


How quickly can you close my mortgage?

First IB can typically close home purchase mortgages and refinance transactions in 30 days or less. Our experienced loan team will work with you to identify the documents we will need to meet your closing date.The time to close may vary depending on property and borrower circumstances. Be sure to speak with one of our experienced loan officers about your specific situation.


Can I apply for a mortgage loan before I find a home to purchase?

Yes, applying for a mortgage loan before you find a home may be the best thing you could do! If you apply now you could pre-qualify online in minutes. Or, take it a step further, and we will review requested documentation in order to issue an official pre-approval. You can use the pre-approval letter to assure real estate brokers and sellers that you are a qualified buyer. A mortgage pre-approval helps give more weight to any offer that you make.

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