Head-to-Head
First Internet Bank Do More Business Checking
$0 monthly fee + modest checking APY + unlimited items, online-only, weak cash rails
VS
Meow Business Banking
Treasury + high coverage + free wires for startups/funds; not a cash or branch bank
Monthly Fee
$0 unconditional
Marketed $0. CRB published fee schedule: no fees currently imposed (reserves right to add with notice).
Checking APY
0.50% APY variable — requires $10,000 average daily balance to earn interest. Daily Balance method. Below $10k ADB, effectively 0%.
Rating
7.9/10
8.5/10
Costs & Fees
| Metric | First Internet Bank Do More Business Checking | Meow Business Banking |
|---|---|---|
| Monthly maintenance | $0 unconditional | Marketed $0. CRB published fee schedule: no fees currently imposed (reserves right to add with notice). |
| Fee waiver | N/A — already $0 | N/A — no published maintenance fee to waive |
| Transaction fees | Unlimited transactions; no per-item fees advertised. Footnote: 'Dollar amount restrictions may apply' — meaning not disclosed. | No published excess-item grid. Marketed unlimited free wires/ACH/checks. ToS: discretionary daily/weekly/monthly payment limits. |
| Overdraft/NSF | Conflict: marketing says 'no overdraft fees.' Fee schedule lists Returned Item $20 and Uncollected Funds $30 (schedule dated 03/15/2018). Confirm at opening. | CRB DAA contemplates NSF/overdraft per fee schedule; current schedule lists no fees imposed. Amounts not disclosed. |
| ATM fees | Bank ATM fee $0. Third-party operator surcharge possible. Up to $10/month reimbursement of third-party ATM surcharges. No branded free network. 2% ISA on intl ATM/debit. | Not disclosed — no ATM network advertised |
| Wire/ACH | Incoming domestic: $15. Outgoing domestic: $20. Incoming intl: $15. Outgoing foreign: $50. Standard ACH in/out: not disclosed as fee (treated as free). Business ACH default cap $25,000/day unless raised in writing. | Incoming/outgoing domestic wires marketed $0. Incoming/outgoing international wire bank fee marketed $0 (FX separate via Airwallex 0.16%–1.00% margin). ACH marketed $0. |
Interest & Yields
| Metric | First Internet Bank Do More Business Checking | Meow Business Banking |
|---|---|---|
| Checking APY | 0.50% APY variable — requires $10,000 average daily balance to earn interest. Daily Balance method. Below $10k ADB, effectively 0%. | |
| Savings APY | ||
| FDIC coverage | Standard FDIC $250,000 per depositor per ownership category at First Internet Bank of Indiana | Standard FDIC $250,000 SMDIA per depositor per ownership category at partner bank |
Features & Access
| Metric | First Internet Bank Do More Business Checking | Meow Business Banking |
|---|---|---|
| Branch/ATM network | No branch network. HQ lobby Fishers, IN only. Any ATM for withdrawal — bank $0, up to $10/month surcharge rebate. No ATM cash deposit advertised. | None. Partner banks not offered as walk-in network. No ATM network or cash rails. |
| Mobile app | iOS 4.3/5 (~265 ratings); Google Play ~4.1–4.2 (~115–116 reviews) | No first-party mobile app by design (blog May 2026). Web dashboard + API + MCP. |
| Virtual cards | Not disclosed for this checking tier | Included — unlimited virtual/physical, merchant lock, category limits, API |
| Opening deposit | $100 conservative (official page silent; secondary sources split $0 vs $100) | $0 marketed for core checking |
| Eligibility | U.S.-based businesses; owner at least 18. Structures not fully published — NerdWallet cites sole prop, LLC, corp with EIN or SSN and formation docs. | Business entities; commercial use only; no consumers. Startups, funds, real estate, crypto-native marketed. Nonprofit/SPV not enumerated. |
Pros & Cons
First Internet Bank Do More Business Checking
Pros
- $0 monthly maintenance, $0 stated per-item fees, unlimited transactions (2026 FAQ)
- 0.50% APY on checking at $10k ADB — uncommon among free business checking (rate 6/16/2026)
- Balance Optimizer sweeps idle cash to First IB MMA at 2.94% / 3.64% without third-party sweep
- Phone support into evening and Saturday; Zelle for Business and account aggregation included
- Direct FDIC member bank (cert. 34607) — not a fintech/partner stack
Cons
- No usable cash-deposit system
- Incoming wires $15 even domestic — recurring cost for wire-paid businesses
- Checking APY modest and gated at $10,000 ADB; below that, yield effectively zero
- Standard FDIC $250k only; no advertised excess-insurance network
- Stale 2018 fee schedule vs 'no overdraft fees' marketing; check holds up to 7–9 business days
Meow Business Banking
Pros
- Marketed $0 monthly, domestic/international wires, ACH, and checks (CRB schedule currently $0)
- IntraFi sweep advertised up to $125M–$200M at partner banks
- Treasury stack: T-bills at 1 bp/month marketing; Commercial Paper 3.56%–3.80% net (09/02/2026)
- Multi-entity dashboard, payment approvals, public API + MCP, USDC/USDT rails
- Virtual/physical cards with controls; 2.5% rewards on Anthropic/OpenAI spend
Cons
- Meow is not a bank; partner banks have rotated (FirstBank/OMB/Third Coast/CRB/Grasshopper)
- Checking APY tiered and partner-specific (Grasshopper 0.50%/3.02%); CRB may be 0% + rewards; not CP headline rate
- No cash, no branches, no official mobile app
- No complete public fee PDF; insurance max and eligibility language conflict across pages
- Thin reviews (Trustpilot 3.6/16); closures and holds in complaint set
Verdict
First Internet Bank Do More Business Checking
Do More Business™ Checking is First Internet Bank of Indiana's single-tier online SMB checking. Direct FDIC member (cert. 34607). $0 maintenance, unlimited items, no cash network. 0.50% APY requires $10k ADB (rate 6/16/2026). Balance Optimizer sweeps to internal MMA (2.94%/3.64%). Costs: $15 incoming wires, $20 outgoing domestic, $50 outgoing foreign, $10/month ATM rebate cap, $3 paper statements, $5/month dormant. Funds availability can hold checks 7–9 days. Strong phone hours and Zelle; weak for cash, incoming wires, and balances above $250k FDIC.
Meow Business Banking
Meow Technologies is a fintech with checking at Cross River and Grasshopper. Marketed $0 monthly/wires/ACH/checks; CRB schedule currently $0 but incomplete public fee book. Grasshopper checking APY 0.50% to $100k and 3.02% above — not Commercial Paper 3.56–3.80%. IntraFi up to $125M–$200M advertised. No cash, no mobile app. API, stablecoins, and treasury are differentiators; partner rotation and disclosure gaps require diligence.