Skip to content
banxta

First Internet Bank vs Live Oak Bank: what each publishes

As of October 17, 2026, Live Oak Bank takes these industries by its own published rules: AI and SaaS, with conditions. We hold no such rule from First Internet Bank.

First Internet BankFDICLive Oak 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

First Internet Bank

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

Live Oak Bank

The regions its own documents name, read on October 9, 2026

Policy by industry

First Internet Bank and Live Oak Bank: published policy by industry
IndustryFirst Internet BankLive Oak Bank
AI and SaaSNo published ruleWith conditions
CryptoNo published ruleNo published rule
iGamingNo published ruleNo published rule
AdultNo published ruleNo published rule
Unlicensed financial servicesNo published ruleNo published rule
Forex and CFDNo published ruleNo published rule
MarketplaceNo published ruleNo published rule

Where owners must live

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

Live Oak Bank

No published rule

Rules about countries

First Internet Bank

No published rule

Live Oak Bank

Account holders and authorized signers must be a United States citizen or Permanent Resident with a valid Social Security number. People lawfully admitted to the United States on a temporary basis who have DHS authorization to work are not eligible to open an account.

Live Oak Bank · Takes owners who hold the passport of · · Source

United States

Fees

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

Live Oak Bank

Live Oak Bank: published fees
PlanAccount openingMonthlyChecked
Business Essential CheckingNot statedUSD 10, waived with a USD 1,000 average daily balance · Source
Business Plus CheckingNot statedUSD 25, waived with a USD 25,000 average daily balance · Source
Business Plus AnalysisNot statedUSD 100, an earnings credit can offset it · Source

Closing an account

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

Live Oak Bank

We may close an account at any time upon reasonable notice to you, and, if we close an account, tender the balance of the account to you, at our option, personally, by mail, or as otherwise requested by you.

Notice before closing · · Source

Account closed or frozen? What Live Oak Bank’s terms say

Licence

LicenseeFirst Internet BankLive Oak Bank
LicenseeFirst Internet Bank of Indiana · Indiana state-chartered bank, Member FDIC (FDIC cert 34607)Live Oak Banking Company · North Carolina state-chartered bank, Member FDIC (FDIC cert 58665)
RegulatorFDIC · FDIC ·