First Internet Bank Business Checking
Online-only business banking with competitive rates and no monthly fees.
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First Internet Bank is one of the original online-only banks, offering business checking accounts with no monthly fees, interest on balances, and a full suite of digital banking services. As a fully chartered bank with FDIC insurance, it combines the stability of a traditional bank with the convenience and low cost of an online-only model.
Our Scores
4.1
Ease of Use
4.0
Features
4.6
Value
4.0
Support
Pros & Cons
Pros
- ✓No monthly maintenance fee
- ✓Earns interest on checking balances
- ✓Fully chartered bank — not a fintech partnership
- ✓Online business checking with solid mobile app
- ✓FDIC insured up to $250,000
Cons
- ✗No physical branches — fully online only
- ✗Less modern interface than neobanks
- ✗Fewer integrations with accounting tools
- ✗No cash deposit capability
Best For
- →Freelancers who want a chartered bank with no monthly fees
- →Those comfortable with fully online banking since 1999
- →Businesses wanting interest on checking balances
- →Remote-first freelancers who never need a branch
Not Ideal For
- ✗Those who need cash deposits or in-person banking
- ✗Freelancers needing multi-currency or international features
- ✗Those who want modern fintech-style integrations
Pricing
Small Business Checking
Free
- ✓No monthly fee
- ✓Interest on balances
- ✓Unlimited transactions
- ✓Online and mobile banking
- ✓Debit card
Frequently Asked Questions
Is First Internet Bank FDIC insured?
Yes. First Internet Bank is a federally chartered bank and FDIC member. Your deposits are FDIC insured up to $250,000. It has been operating as a federally chartered bank since 1999.
How does First Internet Bank compare to Axos Bank?
Both are established online-only banks with no monthly fees. Axos has a slightly more modern digital interface and offers unlimited ATM fee reimbursements. First Internet Bank is also excellent and competitive for interest rates. Both are strong choices for fee-free online business banking.
Other Banking Options
Tax Information Notice
This content is for informational and educational purposes only. It does not constitute tax, legal, or financial advice. Tax laws change frequently. Always consult a qualified CPA or Enrolled Agent for your specific situation.