First Internet Bank Do More Business Checking Account Review
First Internet Bank Do More Business™ Checking isn't available on Finder right now.
- Fee
- $0 per month
- APY
- 0.50%
- Minimum deposit to open
- $0
Our verdict
No monthly fees and unlimited transactions — if you don’t mind banking online.
With no monthly fees or minimum balance requirements, the First Internet Bank Do More Business Checking account is worth considering. It offers unlimited transactions, 0.5% APY on balances of at least $10,000 and access to cashflow analytics tools. It’s a simple, interest-bearing business checking account that you don’t have to worry about paying for month-to-month. But since First Internet Bank is an online bank, you won’t have access to physical branches and are limited to cash deposits at ATMs.
Best for: Small businesses in need of a simple checking account.
Pros
-
No monthly fees or minimums
-
Unlimited transactions
-
Earn 0.5% APY on a $10,000 balance
-
Cashflow tools
-
Integrates with popular software
Cons
-
Online only
-
Cash deposits at ATMs only
-
Charges for incoming wires
What we like about Do More Business Checking
First Internet Bank is one of the first online banks. As an FDIC Member, its deposit accounts are insured up to the typical amount of $250,000 per depositor.
The bank itself offers many products and services, including personal checking and savings, as well as business-centered services, including checking, savings and SBA loans. The Do More Business Checking account isn’t its only business account. It also offers the Commercial Checking account designed for mid- and large-sized businesses.
No monthly fees
The Do More Business Checking account is easy to open and maintain with no monthly fees, opening deposit or balance requirements — which is rare. Many business checking accounts, especially those from large banks, charge monthly fees.
Earns interest
Most checking accounts don’t earn APY, but this one does. The Do More Business Checking account earns 0.5% APY if you maintain an average daily balance of $10,000 or more. The national average rate on an interest-checking account is 0.07%, so First Internet Bank’s account offers a much higher rate than average.
Unlimited transactions and Cash Flow Analysis
The Do More Business Checking account has unlimited transactions, which is nice. Some large banks may charge you for exceeding a certain number of transactions.
You’ll also get Cash Flow Analysis, which you can sync with popular accounting software such as QuickBooks, Xero and FreshBooks. This feature helps you manage net profit, track expenses, generate automated forecasts, monitor payroll expense ratios and track cash flow.
Where it falls short
Businesses that primarily handle cash transactions may prefer a bank with physical branches. First Internet Bank accepts cash deposits at ATMs, but if you deposit large amounts frequently, that might be easier at a bank with tellers.
Extra fees to watch out for
While the account doesn’t charge monthly fees, there are a few fees to be on the lookout for. For example, there’s a $3 paper statement fee, but that can be easily waived by opting in to estatements.
Also worth calling out is that First Internet Bank charges $15 for all incoming wire transfers, both domestic and international. This fee isn’t common, as most banks don’t charge to receive a domestic wire.
Additionally, there’s a $5 monthly dormant fee, also known as an inactivity fee. There isn’t much information about how to avoid this fee or what counts as an inactive account. If we had to guess, based on inactivity schedules from other banks, this fee may apply to accounts with no activity or deposits for 30 to 90 days.
Do More Business Checking fees and access
| Type of fee | Fee details |
|---|---|
| Monthly service | $0 |
| Opening deposit | $0 |
| ATMs |
|
| Debit card fees |
|
| Overdraft or nonsufficient funds | $0 |
| Wire transfers |
|
| Other fees |
|
Compare First Internet Bank Do More Business Checking to other accounts
Narrow down top business accounts by APYs, fees and features. Select Compare on up to four accounts for a side-by-side comparison.
What is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
First Internet customer reviews and ratings
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.5 out of 5 stars, based on 2 customer reviews |
| Trustpilot score | 2.5 out of 5 stars, based on 12 customer reviews |
| App Store Score | 4.8 out of 5 stars, based on 873 customer reviews |
| Google Play Score | 4.6 out of 5 stars, based on 21 customer reviews |
| Customer reviews verified as of | 12 February 2025 |
For being one of the oldest online banks, First Internet Bank doesn’t have a ton of customer feedback on traditional platforms like the Better Business Bureau (BBB) or Trustpilot. The majority of First Internet’s Trustpilot reviews are about its lending services, with some citing poor experiences with specific loan officers and a long underwriting process, but a few customers report positive experiences.
We headed to app stores for more customer insight and were happy to see high ratings. Nearly all the ratings on the Apple App Store are 5-star. Happy customers say the app functions smoothly, the accounts are solid and the mobile check deposit feature works well.
What do people on Reddit say?
Frequently asked questions
Is First Internet Bank a real bank?
Yes, First Internet Bank is a legitimate, FDIC-insured institution.
How long has First Internet Bank been around?
Founded in Indiana in 1999, First Internet Bank was the first fully online bank in the state.
Business checking account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Your reviews
Bethany Finder
Editor, Banking
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