Best Banking Deal Ever!
August 28th, 2015 at 04:58 pmI think the very best deal out there for banks in at First Internet Bank (www.firstib.com).
First IB is a full service bank that provides checking, savings, car loans, mortgages, IRAs, CDs, etc. But they only have a single branch, their primary business is on the web. That keeps their costs way down. Some of the cool stuff:
1. 0.55% interest on checking
2. 0.80% interest on money market savings
3. $10 per month rebates on ATM charges at any ATM
4. Some of the highest rates in the country on CDs
5. Free Financeworks software (Essentially Quicken)
6. Postage paid envelopes for deposits
Altogether that should save you a good $200 a year versus some of the majors like Wells Fargo.
But I think maybe one of the best things is that since they actually do run a physical branch, you are not dealing with some call center based in India when you have a question. You talk to one of the bankers at their branch in Indiana. They answer the phone quickly and they know their stuff.
The downside? Cash deposits can be a bit of a pain, as with any web based bank.
Considering the combination of high rates, full service banking and free services, I think it's the best banking deal out there, maybe the best ever.