First Internet Bank Free Checking Account 2025 Review

First Internet Bank Free Checking is an online checking account with no monthly fees and a low opening deposit requirement. You'll get online and mobile banking access to easily manage your finances on the go. 

The First Internet Bank Free Checking account is a basic checking account that offers everything you need to track your financial life. There are no monthly fees to worry about and you only need $25 to open an account online. 

You might choose this checking account if you:

• Want to avoid a monthly maintenance fee
• Are comfortable with online and mobile banking
• Don't need to earn interest or rewards
• Prefer a bank that doesn't charge overdraft fees

If you're looking for more ways to manage your money, First Internet Bank offers money market accounts, CDs, IRAs, and regular savings accounts.

Compared to Other Online Savings Accounts

Popular Bank Checking Account

Popular Bank offers several checking accounts to meet different financial needs. Easy Access Checking is a low-fee account for basic transactions; Popular Everyday Checking is designed for everyday needs and you can avoid fees when you meet minimum balance requirements. If you're looking for a banking upgrade, Popular Prestige Checking earns interest and offers other perks.  

Read our full editorial review of the Popular Bank Checking account

Fifth Third Bank Express Checking Account

Fifth Third Bank Express Checking has no balance requirements or overdraft fees, and is designed for people who need to cash checks or get paid via direct deposit. This account doesn't include check writing and there's a monthly maintenance fee to be aware of. You can access more than 40,000 ATMs nationwide fee-free. 

Read our full editorial review of the Fifth Third Bank Express Checking account

Ally Bank Interest Checking Account

Ally Bank Interest Checking has no monthly maintenance fees or overdraft fees and balances earn interest across all tiers. You can withdraw cash fee-free at 75,000+ ATMs and get paid up to two days early with direct deposit. If you're looking for ways to earn even more interest you can check out Ally's high-interest savings and CD accounts. 

Read our full editorial review of the Ally Bank Interest Checking account

IncredibleBank Checking Account

IncredibleBank offers several checking account options, all of which you can open online. IncredibleBank Checking Xcel is designed for people who get paid via direct deposit while IncredibleBank Checking can help meet everyday needs. IncredibleBank Checking Plus rewards you with interest on balances. 

Read our full editorial review of the IncredibleBank Checking account

Interest Rates and Rewards

Interest and rewards checking accounts pay you something back for maintaining your account. For example, you might earn interest on balances or get cash back when you spend with your debit card. 

First Internet Bank Free Checking doesn't offer interest or rewards. That could be a drawback if you were hoping to find a checking account with a little something extra. 

You can earn interest with First Internet Bank Interest Checking. However, the rate is below what you could find at other banks. 

If you're interested in rewards or interest checking do your research. Compare backs to see which ones pay the most in interest or rewards. 

Read the fine print, too so you know what's required to earn interest or rewards. For example, you may need to:

• Meet a minimum balance requirement
• Set up a recurring direct deposit
• Use your debit card for a set number of transactions each month

You'll have to decide if it's worth the added effort to earn interest or cash back. 

Fees

Digital banks tend to charge fewer fees than traditional banks since they have lower overhead costs. However, that doesn't mean they're entirely fee-free. 

Here's what you'll pay at First Internet Bank.

Other Service Fees - First Internet Bank Free Checking Account

There's no monthly fee which is nice. But again, you don't get a lot of extras like rewards or interest. 

You can get that with First Internet Bank Interest Checking. However, you'll need to make a larger opening deposit and maintain a $500 average daily balance to avoid a $10 monthly fee. 

Branch and ATM Access

First Internet Bank Free Checking includes a debit card, which you can use to withdraw cash anywhere. You can withdraw up to $750 per day at the ATM with a First Internet Bank account.  

The bank doesn't charge fees when you use another bank's ATM, but it doesn't refund foreign ATM fees either. You could get that perk with First Internet Bank Interest Checking; monthly ATM fee rebates are capped at $10. 

Since this is an online bank there are no branches. You'll have to decide how important that is to you, based on your needs. 

Some people prefer the convenience of being able to pop into a branch when they need to deposit cash or ask questions. For others, the lack of branch banking isn't a big deal. 

Account Access

First Internet Bank offers online and mobile banking to help you stay on top of your finances. You can log in to:

• View transactions
• Download statements
• Transfer funds between linked First Internet Bank accounts
• Pay bills 
• Open a new account

You can also use mobile check deposits to add funds to your account. 

In addition to daily ATM withdrawal limits, First Internet Bank imposes a default withdrawal limit for all transactions on new accounts. 

• Daily limit: $5,000 per rolling 30 days
• Monthly limit: $25,000 per rolling 30 days

You'll have to send a written request to First Internet Bank to raise those limits. 

First Internet Bank is a Zelle partner so you can log in to online or mobile banking to send and receive payments. You'll see your Zelle transfer limits when you apply. Person-to-person transfers are free. 

FDIC Insurance

FDIC insurance helps keep your money safe in case of a bank failure. First Internet Bank is FDIC-insured so you don't have to worry about your accounts going up in smoke if the worst happens. 

Should a bank fail, the FDIC helps depositors get their money back up to certain limits. The current coverage limit is $250,000 per depositor. 

This limit applies to every FDIC-member bank you have accounts with. 

What You Need to Open

You can open a First Internet Bank Free Checking account online and it takes just minutes. You'll need to share some basic information, including your:

• Name
• Address
• Phone number and email
• Date of birth
• Social Security number

You'll need a government-issued photo ID to get started. If you'd like to add a joint account holder you can do that. You'll just need to share the same information listed above for them. 

The minimum deposit is $25. You can link an external bank account to make your first deposit. For that, you'll need your bank account number and routing number. 

Frequently Asked Questions

Is First Internet Bank a good bank?

First Internet Bank has a good reputation as a reliable online bank. You can open checking accounts, savings accounts, and CDs to meet different needs. The only drawback, if you'd consider it to be one, is that the bank is online only; there are no branches to visit. 

Are online checking accounts worth it? 

Online checking accounts are worth it for people who don't mind digital banking and want to avoid high fees. The best online checking accounts have no monthly fees or overdraft fees and earn interest or pay rewards on debit card purchases. Researching what different online banks have to offer can help you find the checking account that's right for you. 

How much money do you need to open a checking account? 

Minimum deposit requirements vary from bank to bank. Some banks let you open a checking account with as little as $1; others require $100 or more to get started. First Internet Banking Free Checking has a minimum opening deposit requirement of $25, which is typical of basic checking accounts.