Skip to main content
No. of Recommendations: 1
He's a bit skeptical about a hitherto unheard of internet only bank.

They are making money.

http://www3.fdic.gov/idasp/strureport.asp?PassCert1=35546&PassCert2=35546&inActive=A&IDForm=INSTSTRU&INREPTLEV=DRSLineLevel+%3D+40

I am in the process of moving to them from UmbrellaBank, and I was at USABancshares before them.

I basically hate banks and I have no loyalty to any of them. But since Bank of Internet pays 2.75%, 24 hour access to my account, download transactions, pay bills, and get cash at any ATM without a fee charge, I like them.

For any bank, it is best to watch their bottom line. FDIC is good, but it will make your life difficult if you have to deal with them. So I go with the bank that is making money since it will likely to continue.

Jeff
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.