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Bank of Internet USA Checking Accounts Review

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Bank of Internet USA is an online-only bank was founded in 1999 and is headquartered in San Diego, California. BofI USA offers a wide range of financial products to consumers throughout the nation from its headquarters in California. Among the products available from BofI are checking accounts, savings, joint and trust accounts, accounts for children, mortgages, personal and auto loans, as well as business banking. The bank is also FDIC insured.
 
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How is Bank of Internet rated?

Breakdown

3.5/5
Account Features
3.5/5
Fees and Restrictions
4.4/5
Support, Reputation, and Financials

Overall Rating: 3.7 / 5 (Very good)

Customers who select Bank of Internet USA as their financial institution can earn up to 1.25% APY with its interest-bearing Rewards Checking account, can enjoy free online banking, and cash back rewards with selected accounts. All customers can also access the bank's online tools which can help them make online payments, deposit checks 24/7, and send an receive money electronically. Overall, Bank of Internet USA is bound to be a good fit for people who want low or no fees form their bank.

Bank of Internet Account Features

Account Features - 3.5 / 5

BofI USA offers several checking accounts with free online banking that can help any customer manage their finances. A handy comparison tool will help customers choose between available options. First Checking, a joint account for families, can earn customers up to 0.25 APY, and has no maintenance or overdraft fees. The option for people over 55 years of age, Golden Checking, has zero fees, free personal checks, domestic ATM reimbursements and can earn interest.The Essential Checking account promises superior customer service, unlimited ATM reimbursements, and cash back rewards. Similarly, the CashBack account boats the same benefits but increases rewards and has no annual or monthly fees. The Platimum Checking and Rewards Checking accounts allow users to earn 0.71 APY and up to 1.25 APY respectively. Both accounts have cash back rewards, and like the others mentioned, free online banking tools.
Types of Checking Accounts
Free Checking Accounts
Online Checking Accounts
No-Fee ATM
Reimbursement for Domestic ATMs
Reimbursement for International ATMs

Interest (APY)

.25%

Bank of Internet Fees and Restrictions

Fees and Restrictions - 3.5 / 5

An FDIC member, Bank of Internet USA, a subsidiary of BofI Holdings, Inc., has been providing online banking since 1999. Although we could not find a Moody's rating for the institution, BofI has earned a 5-star rating from BauerFinancial. With $5.8 billion in assets, twice the capital required, this online-only bank is publicly traded on the stock market, and it's recommended as a strong buy. Additionally, BofI's earnings increased by 22.93% last year, and trending reports point to its continued growth in years to come, making it a reliable choice.
Maintenance Fee
$0

Bank of Internet Support, Reputation, and Financials

Support, Reputation, and Financials - 4.4 / 5

Customers of BofI USA can contact customer support or live chat during the bank's Pacific Time hours of operation. The bank does offer 24/7 customer support through a call center. With no local branches, with the exception of company headquarters in California, every transaction must be done online or by phone. Bank of Internet USA is a BBB accredited business since 2011 and has an A+rating with the organization.
BBB Rating
A+
Year Founded
1999
Live Help 24/7
Yes

Company Profile

Full Name
Bank of Internet USA Checking Accounts
Company Website
https://www.bankofinternet.com/
Headquarters
4350 La Jolla Village Drive, San Diego, CA, 92122

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