First Internet Bank
First Internet Bank Do More Business Checking
By Alex Compton · Last verified
Fee-free online business checking that actually pays interest
Insurance: FDIC insured up to $250,000 (First Internet Bank of Indiana)
Account Terms History
A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.
| Observed | APY / yield | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-10-12 | 0.50% with a $10,000 average daily balance | $0 | $100 | First Internet Bank Do More Business Checking page →Reconfirmed 0.50% APY with $10,000 average daily balance (rates updated 10/2/2026), no monthly or overdraft fees, unlimited transactions, $10/month ATM rebates |
| 2026-06-11 | 0.50% with a $10,000 average daily balance | $0 | $100 | Archive record · no attached snapshotLegacy snapshot before event-level evidence attachments |
Primary-source verification log
Append-only evidence ledger- confirmed
0.50% APY with $10,000 average daily balance, no monthly or overdraft fees, unlimited transactions and $10/month ATM rebates reconfirmed
Fields: features
First Internet Bank Do More Business Checking page →
Features
- ▸No monthly fee, no balance requirement, unlimited transactions
- ▸0.50% APY once average daily balance reaches $10,000
- ▸Up to $10/month in ATM fee rebates at any ATM
- ▸No overdraft fees
- ▸Built-in cash flow insights, plus a Balance Optimizer that can move excess funds into business savings or money market
- ▸Zelle for business included
- ▸Direct FDIC charter, not a fintech riding a partner bank
Pros
- +Unlimited transactions with zero fees from a real chartered bank
- +Interest on checking, unusual outside the fintech set
- +ATM rebates instead of network restrictions
- +Built-in cash flow forecasting tools
Cons
- −0.50% APY trails Bluevine and other fintech rates badly
- −No cash deposits; online-only
- −$10,000 balance needed before any interest accrues
- −Smaller institution with less name recognition
Our Take
First Internet Bank is the conservative pick among online business accounts: a real chartered bank, unlimited free transactions, and a modest yield. The 0.50% APY will not turn heads next to fintech sweep accounts, but some owners will trade rate for the simplicity of a direct FDIC charter. Best as a no-fee operating account for businesses that never handle cash and keep reserves in a higher-yield home.
Best for: Cash-free businesses that want a direct-charter online bank with no fees
Open at First Internet Bank →Last verified 2026-10-12
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