First Internet Bank of Indiana offers two checking accounts: free checking and interest checking.
Free checking, the account scored for this review, requires $25 to open. It earns no interest and doesn’t qualify for ATM fee reimbursements, but there’s no monthly maintenance fee.
The interest checking requires $100 to open. It pays a decent APY, especially for a checking account. There’s a $10 monthly fee, but it’s waived when account holders maintain a $500 daily balance. This account does qualify for ATM fee reimbursements, up to $10 per statement cycle.
Both accounts offer a free first order of checks, free incoming wire transfers and access to Zelle.
Both accounts require small opening deposits.
The interest checking account pays a decent APY.
There’s no fee on free checking; the fee is easily waived for interest checking.