First Internet Bank Do More Business Checking
$0 monthly fee + modest checking APY + unlimited items, online-only, weak cash rails
PNC Business Checking
Branch + cash deposits + analyzed treasury for higher-volume businesses; monthly fee waivable but not unconditionally free; no APY on standard checking
Costs & Fees
| Metric | First Internet Bank Do More Business Checking | PNC Business Checking |
|---|---|---|
| Monthly maintenance | $0 unconditional | BC $12; Plus $22; Analysis $25; TEP $50. First 3 statement cycles $0 on BC/Plus/TEP. |
| Fee waiver | N/A — already $0 | BC: $500 avg monthly collected balance OR $500 linked PNC business-card purchases OR $500 linked Merchant deposits. Plus: $5,000 collected OR $5,000 card OR $5,000 merchant OR $20,000 combined business checking+MMA. TEP: $30,000 combined collected across master + beneficiaries. Analysis: offset by earnings credit. |
| Transaction fees | Unlimited transactions; no per-item fees advertised. Footnote: 'Dollar amount restrictions may apply' — meaning not disclosed. | Combined items = deposits + deposited items + paid items + ACH credits/debits received. BC: 150 free then $0.50 each. Plus: 500 free then $0.50. TEP: unlimited per 2026 marketing (confirm PDF). Cash priced separately on volume. |
| 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. | $36 per item; max 4/day. Auto-refund if overdrawn ≤$5 after all items post. |
| 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. | PNC ATM $0. OON: $3 US/CA/PR/USVI; $5 other countries. Plus: first 2 non-PNC ATM transactions reimbursed/statement. TEP/Analysis: $0 PNC fee at non-PNC ATMs (surcharge may remain). |
| 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 domestic $15 (Plus/TEP: 1 free received domestic wire/month). Outgoing domestic $95. Incoming intl $21. Outgoing intl $135 same-currency / $110 cross-currency. ACH received counts toward item bucket; no separate ACH received fee. |
Interest & Yields
| Metric | First Internet Bank Do More Business Checking | PNC Business Checking |
|---|---|---|
| Checking APY | 0.50% APY variable — requires $10,000 average daily balance to earn interest. Daily Balance method. Below $10k ADB, effectively 0%. | None on BC, Plus, TEP DDA. Non-interest checking. |
| Savings APY | ||
| FDIC coverage | Standard FDIC $250,000 per depositor per ownership category at First Internet Bank of Indiana | Standard FDIC $250,000 per depositor per ownership category at PNC Bank, N.A. |
Features & Access
| Metric | First Internet Bank Do More Business Checking | PNC Business Checking |
|---|---|---|
| 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. | ~2,300–2,419 branches in 27 states + DC. ~58,000–60,000 PNC + partner ATMs. Night depository at many branches. HQ lobby Fishers-style hours vary by location. |
| Mobile app | iOS 4.3/5 (~265 ratings); Google Play ~4.1–4.2 (~115–116 reviews) | iOS ~4.8–4.9 (~1.9–2.0M ratings); Google Play ~4.6 (~306k). NerdWallet weighted 4.72 (May 21, 2026). J.D. Power 2025 mobile #2 at 675/1000. |
| Virtual cards | Not disclosed for this checking tier | Easy Lock + standard Visa controls. Full virtual-card program not offered as checking feature. |
| Opening deposit | $100 conservative (official page silent; secondary sources split $0 vs $100) | $100 |
| 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. | Sole prop, partnership, LLC/LLP, corporation, unincorporated association, nonprofit. Holding companies/funds/SPVs not listed — expect enhanced KYC. |
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
PNC Business Checking
Pros
- Official all-market fee PDF current (effective 5/31/2026) — rare clarity
- BC monthly fee waives at only $500 average collected — low national-bank bar
- Real cash rails (branch, night drop, Quick Deposit) with free caps to $50,000 on TEP
- TEP packages 4 extra checking accounts, aggregated limits, and $0 QuickBooks Direct Connect
- $400 / $1,000 bonuses through 9/30/2026; business phone line and ~58k ATM network
Cons
- No APY on core checking; Interest Checking rate unpublished and historically ~0.01%
- Outgoing wires $95 domestic / $110–$135 intl at list — among highest in SMB sets
- $36 OD max 4/day; only ≤$5 overdraw refunded
- Combined-item definition broader than checks written — 150 can burn fast on BC
- QuickBooks Direct Connect $15/month unless TEP; FDIC stays $250k
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.
PNC Business Checking
PNC's SMB checking is a conventional regional-national bank stack from PNC Bank, N.A. (direct FDIC member). Four tiers: BC ($12, 150 items, $5k cash), Plus ($22, 500 items, $10k cash), Analysis ($25 analyzed + ECR), TEP ($50, unlimited items, $50k cash, 4 beneficiary accounts, ECR >$125k). Fee schedule effective 5/31/2026: outgoing domestic wires $95, OD $36, incoming wires $15. No APY on core DDAs. First 3 months fee-free; waivers by collected balance or card/merchant activity. ~2,400 branches in 27 states + DC. $400/$1,000 bonus through 9/30/2026. Strong app; weak site-level CSAT. Poor filter match for wire-heavy, APY-seeking, or out-of-footprint digital-only firms.