FAQ

No. First Internet Bank is a de novo (startup) bank and is a wholly owned subsidiary of First Internet Bancorp. It is not owned by any other financial institution.

First Internet Bank checking, savings, Certificate of Deposit (CD), and IRA accounts are insured through the Federal Deposit Insurance Corporation (FDIC). Basic insurance coverage for checking, savings, and CD accounts is $250,000. All transactions and agreements on the site noted above are solely negotiated between you and the corresponding service provider. First Internet Bank neither expresses nor implies any responsibility for such agreements or transactions. You may wish to consult the privacy disclosures of the above referenced site before transacting with this third party.

First Internet Bank will send through US mail a reminder of your CD maturity approximately one month in advance of your maturity date. If you use the online banking site, you may also use the personal reminder option to request an electronic reminder prior to maturity. Click Manage Money, select Mobile Banking & Alerts and click Add an alert.

If you do nothing, your First Internet Bank CD will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The rate on the new CD will be the rate in effect for that term on the maturity date.

If you choose not to renew the CD, you will have a grace period of ten (10) calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty. If you notify us in writing prior to the maturity date that you do not wish to renew the CD, we will close the CD on the maturity date and mail a check to you for the balance of your CD.

If you also have a First Internet Bank checking or savings account, you can transfer the entire balance of your mature CD into your checking or savings account and close the CD through the online banking site. Click Additional Services, then CD Maturity Options.

To add a joint account holder to your First Internet Bank account, you’ll need to complete the Add a Joint Account Holder form. Log in to your online banking account, click Additional Services and select Add a Joint Account Holder. The form is a PDF file, so you’ll need Adobe Acrobat Reader to view and print the form. Print, complete, and return the form to us following the instructions on the form.

You may transfer balances from other credit cards up to the available credit on your First Internet Bank credit card. There is no fee to transfer balances, but interest will begin to accrue on the transfer amount immediately. (There is no grace period on balance transfers.) You may request a balance transfer when you apply for a First Internet Bank credit card. If you already have a First Internet Bank credit card, log in to your online banking account, click Additional Services and select Request Balance Transfers.

If you do not have online banking access, call a Relationship Banker at 1-888-873-3424 or fax to 1-888-644-8678 your name, account or card number, company name holding the account to be transferred (if applicable), payment mailing address and dollar amount to be transferred.

Several CD redemption options are available to you. Simply log in to your online banking account, click Additional Services and select CD Maturity Options.

If you do not have access to the online banking site and wish to provide CD redemption instructions to us, please submit a written request with the following information: Your name, the last four digits of your account number and a signature from an authorized account holder. Email the request to bank@firstib.com, fax it toll-free to 1-888-644-8678 or mail it to:

First Internet Bank of Indiana
PO Box 6080
Fishers, IN 46038

Important note: CDs are subject to an early withdrawal penalty prior to maturity. We will send the balance of your CD, less any applicable early withdrawal penalty. If you are requesting that we send the balance to an address other than the address we have on file, the primary account holder must sign the request.

The billing cycle begins on the sixth (6th) day of the month and ends on the fifth (5th) day of the following month. Payment is due by the fourth (4th) day of the following month.

To help you manage your deposits and liquidity, we offer several account options:​​​​​​​

• Analyzed and Premium Checking
• Zero balance accounts
• Public and non-profit solutions

To request electronic statements, log in to your online banking account. Click Additional Services, select Bills, Statements & Tax Forms and follow the on-screen prompts to confirm your account ownership. You will also have to accept the terms and conditions for receiving your statements electronically.

You will have the opportunity to request overdraft protection on your account application when you open a new First Internet Bank checking and/or savings account. Please specify how you would like the accounts to be linked if you have more than one checking and/or savings account. If your accounts are already open, contact a Relationship Banker at 1-888-873-3424 for assistance.

If you would like to be considered for an overdraft line of credit, you will have the opportunity to apply for it through the checking account application. An overdraft line of credit is subject to credit approval.

If your checking account is already open but you did not ask to be considered for an overdraft line of credit with your account application, you may make the request through the online banking site. Log in to your online banking account, click Additional Services, select Open Deposit Accounts, choose the Overdraft Line of Credit for existing checking option from the drop-down menu and click the Proceed button to advance to the online application. Complete and submit the application electronically. Once the application has been submitted, print, sign, and return the confirmation screen to us via fax at 1-888-644-8678. You will receive a decision within two business days.