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Bank of America vs First Internet Bank: what each publishes

As of October 17, 2026, we hold no rule from Bank of America or First Internet Bank on the 7 industries we track; below, side by side: where each takes companies from, its fees, its terms on closing accounts and its licence.

Bank of AmericaFDICFirst Internet BankFDIC

Not a ranking: the two names are in alphabetical order. The free check applies every provider’s rules to your own answers.

Where it takes companies from

Bank of America

Its own list of countries, quoted below with its source and date

First Internet Bank

The regions its own documents name, read on October 16, 2026

Policy by industry

Bank of America and First Internet Bank: published policy by industry
IndustryBank of AmericaFirst Internet Bank
CryptoNo published ruleNo published rule
iGamingNo published ruleNo published rule
AdultNo published ruleNo published rule
Unlicensed financial servicesNo published ruleNo published rule
AI and SaaSNo published ruleNo published rule
Forex and CFDNo published ruleNo published rule
MarketplaceNo published ruleNo published rule

Where owners must live

Bank of America

One of the business owners or controlling managers must be a U.S. citizen or resident.

Owners and directors · · Source

First Internet Bank

Yes, you must be a U.S. citizen or U.S. resident alien with a U.S. taxpayer identification number, U.S. residential or business address (P.O Box address is not permissible) and U.S. phone number to open an account with First Internet Bank.

Owners and directors · · Source

Rules about countries

Bank of America

Must be U.S. based. Foreign business customers are unable to apply at this time.

Bank of America · Takes companies registered in · · Source

United States

First Internet Bank

No published rule

Fees

Bank of America

Bank of America: published fees
PlanAccount openingMonthlyChecked
Business Advantage Fundamentals BankingNot stated; opening deposit USD 100 or more ('Opening Deposit $100 or more')USD 16 ('$16.00 each month.'), not charged until the thirteenth statement cycle closes; waived with a combined average monthly balance of USD 5,000 or more in eligible linked business deposit accounts, USD 500 or more in qualifying new net purchases with the linked business debit card, or Preferred Rewards for Business membership · Source
Business Advantage Relationship BankingNot stated; opening deposit USD 100 or more ('Opening Deposit $100 or more')USD 29.95 ('$29.95 each month.'), not charged until the third statement cycle closes; waived with a combined average monthly balance of USD 15,000 or more in eligible linked business deposit accounts or Preferred Rewards for Business membership · Source

First Internet Bank

First Internet Bank: published fees
PlanAccount openingMonthlyChecked
Do More Business CheckingNot statedNone ('There are no monthly maintenance fees, no overdraft fees, and no per-transaction fees') · Source

Closing an account

Bank of America

You or we may close your checking or savings account at any time without advance notice, except that we may require you to give us seven days advance notice when you intend to close your savings or interest-bearing checking account by withdrawing your funds.

Notice before closing · · Source

Account closed or frozen? What Bank of America’s terms say

First Internet Bank

We will attempt to provide you reasonable notice of the account hold or closure. However, in some cases it might be reasonable for us to give you notice after the hold or account closure becomes effective.

Notice before closing · · Source

Account closed or frozen? What First Internet Bank’s terms say

Licence

LicenseeBank of AmericaFirst Internet Bank
LicenseeBank of America, National Association · national bank, Member FDIC (FDIC cert 3510)First Internet Bank of Indiana · Indiana state-chartered bank, Member FDIC (FDIC cert 34607)
RegulatorFDIC · FDIC ·