BofI Federal Bank
BofI Federal Bank offers innovative banking and lending products and services to their customers. The bank operates in United States from a single location headquartered in San Diego, California. As an innovative branchless bank, it offers their consumers loan products at low rates and fees, checking and savings accounts, and prepaid cards.
- Trust Brink′s with your money. Securing cash and valuables since 1859.
- Get paid up to 2 days faster with Direct Deposit.
- Access your money whenever, wherever you are. Use your mobile phone and online Account Center to check your balance, send money, find reload/ATM locations and much more.
- Let Alerts help you stay connected to your money. Know when your card is used, direct deposit arrives, transaction details and your available balance.
- Shop securely Online with a Virtual Account so you don′t have to use your card number.
- Add extra protection for shopping in stores by putting your photo on your card.
- Earn Cash Back via the Payback Rewards program from restaurants, shops and more.
- $10 Purchase Cushion When You′re A Little Short.
| Activation Fee | Guaranteed Approval | Credit Check | Build Credit | Direct Deposit |
|---|---|---|---|---|
| $0 | Yes | No | No | Free |
All about BofI Banking Products
The Bank of Internet Federal Bank directs their energy toward business banking. They offer multiple banking options including checking, money market and CD's. They also offer commercial and industrial lending, as well as income property lending.
Bank of Internet Federal Bank offers several checking account options for businesses including basic business, business interest, premier business and analyzed business. The best account will depend on the average daily balance your business will be maintaining and the amount of transactions being processed.
Basic Business is BofI's standard checking account which is recommended for growing businesses with moderate account activity. There is no interest earning potential on this account. However, there is also no monthly service charge.
The Business Interest account offers 50 free transactions per month and a fee of $.50 thereafter. There is a monthly service charge of $10 per month which can be avoided by keeping an average daily balance of $5,000.
The Premier Business checking account is an interest earning account but limits free transactions to 100 per month after that there is a $.30 charge. This account has a monthly service charge of $15.95 if a balance of $25,000 is not maintained.
BofI's Analyzed Business checking account offers advanced cash management services and is recommended for businesses with high balances and many transactions. It also offers an earnings credit to offset fees.
The Bank of Internet is one of the first solely Internet-based banks. They were established in 2000 and are based in San Diego, California. They are FDIC insured. BofI Holding Inc. is the parent company of Bank of Internet Federal Bank.
