With its headquarters in San Diego, California, Bank of Internet Bank (BOFI) offers traditional banking and loan services through the internet to its customers throughout the United States.
The board of directors consists of people that have extensive banking experience, with the President and CEO being a pioneer in internet banking with history going back to as early as 1994, when the internet was raw and fresh. This pool of vast experience brings to BOFI the high credibility that only some can boast of.
The geographical boundaries have never been a hindrance to Bank of Internet Bank and their services are spread wide across the United States.
The unique banking products provided by this bank through their various checking accounts and savings accounts provide the financial security to customers from anywhere in the world. The unique monthly ATM reimbursement feature is very attractive and one not too many banks provide.
All their checking accounts with great interest rates are free of monthly service charges if balance requirements are taken care of, and unlimited free bill payment is allowed.
Their freedom checking account that is specifically created for online banking, can be opened with $100 and earns a decent interest. The senior checking account is for seniors aged 50 or older and can be opened with as little as $50 and comes along with the value added service of free BOFI check printing. The boomer checking account is for people who are 40 and above, and requires only $50 to open. The basic checking account is for those that use their checking account a lot but don’t wish to end up spending a great deal of money on fees. It only takes $100 to open a basic checking account. For just $50, a student checking account can be opened, and as the name clearly indicates is for full time students only who are 18 years or older.
Bank of Internet Bank’s high interest savings accounts are driven towards helping the customers reach their goals quicker. All deposits are FDIC insured and building up the bank balance without feeling the pinch has never been easier. The regular savings account is not only for adults but also for minors, which can be opened for lesser amount. There is ATM card access to this account.
The best money market accounts with the best money market rates are the pride of Bank of Internet Bank, with their superior rates of return and complete liquidity. The salient features being unlimited deposits, any number of ATM withdrawals and three checks per month. The money market savings account offers the flexibility and accessibility of a checking account, assisting every step of the way by providing numerous benefits.
Unlimited deposits and withdrawals, as well as intra-account transfers are permitted, either by mail, messenger, internet, ATM, or in person. Although the best money market rates are provided, the rates vary depending on market conditions.
The Certificates of Deposit are created keeping in mind the depositors that would like to leave their money deposited for a specific period of time, from as little as three months to as long as 60 months. They provide the best CD rates and these rates are fixed for the deposit term. The minimum deposit is as low as $100 and no other fees are applicable. The interest is compounded on a daily basis and paid monthly, either into the account, wired to the checking account, or by check.
All the above can be possible with just plugging in the internet in the relaxed comfort of the home. Viewing of account information the same day as checks are paid online, is convenience at its best.
The only accounts that Bank of Internet Bank does not currently offer are the Retirement and IRA accounts.
Coming to the loan products that Bank of Internet offers commercial real estate loans, home equity loans, RV loans, apartment loans, auto loans, credit cards, overdraft protection, and mortgage insurance. Bank of Internet Bank is confident that their rates are extremely competitive when compared to other banks and brokers. For those that are looking for consumer loans that offer great rates and online convenience, availing any one of these products is a step towards fulfilling a dream.
This bank is certainly one of the most sought after what with their best CD rates and best money market rates to name a few. The customer service is fantastic and this is what brings repeat customers who value the numerous services provided by the Bank of Internet Bank.
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