Head-to-Head
First Internet Bank Do More Business Checking
$0 monthly fee + modest checking APY + unlimited items, online-only, weak cash rails
VS
Primis Business Checking
$0 monthly + $1 open; pick 1% debit cash-back or 1.75% checking APY, plus 4.00% business savings — online nationwide, cash only in VA/MD footprint
Monthly Fee
$0 unconditional
$0 unconditional on all three digital products
Checking APY
0.50% APY variable — requires $10,000 average daily balance to earn interest. Daily Balance method. Below $10k ADB, effectively 0%.
Unlimited: 0% APY (1% debit cash-back reward). Pro: 1.75% APY on all balances, no tiers, no earnings limit.
Rating
7.9/10
8.4/10
Costs & Fees
| Metric | First Internet Bank Do More Business Checking | Primis Business Checking |
|---|---|---|
| Monthly maintenance | $0 unconditional | $0 unconditional on all three digital products |
| Fee waiver | N/A — already $0 | N/A — already $0; no balance or activity waiver needed |
| Transaction fees | Unlimited transactions; no per-item fees advertised. Footnote: 'Dollar amount restrictions may apply' — meaning not disclosed. | No per-item fees on digital line. Marketing 'unlimited transactions'; operational channel caps on ACH/wires/ATM apply (see 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. | $0 NSF; $0 overdraft item; $0 return deposited item. Not an invitation to overdraw; bank may return items. OD protection not disclosed as priced product. |
| 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. | Primis ATM $0. Any U.S. ATM — no Primis fee; foreign operator surcharge rebated (~15th of month; account must remain open). Daily ATM cash-out cap $550. |
| 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 wire $0 (+ originating-bank fee refund + $10 if requested within 30 days with docs). Outgoing domestic $5. Incoming intl $0. Outgoing intl $35 (FX markup not disclosed). App ACH in/out $0 but volume capped. |
Interest & Yields
| Metric | First Internet Bank Do More Business Checking | Primis 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%. | Unlimited: 0% APY (1% debit cash-back reward). Pro: 1.75% APY on all balances, no tiers, no earnings limit. |
| Savings APY | Business Savings: 4.00% APY on all balances; no account maximum on marketing. Separate account from checking. | |
| 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 Primis Bank. Primis + 316 Financial + Panacea aggregate. |
Features & Access
| Metric | First Internet Bank Do More Business Checking | Primis 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. | 24 full-service VA/MD branches (YE2025). Any U.S. ATM for withdrawal — surcharge rebate on checking. Cash deposit at ATM implied Primis machines in VA/MD only. |
| Mobile app | iOS 4.3/5 (~265 ratings); Google Play ~4.1–4.2 (~115–116 reviews) | Primis Digital Banking iOS ~4.6 (289 ratings); Android ~4.9 (~232 reviews). Legacy Classic Business Android ~3.0 (~29) — treat as deprecated. |
| Virtual cards | Not disclosed for this checking tier | Not disclosed |
| Opening deposit | $100 conservative (official page silent; secondary sources split $0 vs $100) | $1.00 |
| 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 props and small business marketed. Entity list not fully published. Beneficial ownership information required. |
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
Primis Business Checking
Pros
- Unconditional $0 monthly, $0 NSF/OD, $0 item fees on digital line (12/1/2025 schedule)
- $1 opening; Pro 1.75% APY and Business Savings 4.00% APY with no balance tiers (stamp 7/1/2025; observed 9/1/2026)
- Incoming wires $0 plus originating-fee refund + $10 program
- Nationwide ATM surcharge rebate; automatic extra FDIC up to $2M on Business Savings
- V1BE free cash courier in Mid-Atlantic; real Virginia-chartered FDIC bank (Cert. 57968)
Cons
- Marketing 'no fees' conflicts with $5 domestic / $35 international outgoing wires and ancillary fees
- App ACH capped at $18,000/day and $100,000/month undercuts 'unlimited' claim
- Cash deposit regional only — VA/MD branches and V1BE, no national retail rail
- Integrations and multi-user controls thin vs specialist business banks; export-only QBO
- Digital products unavailable in PR/territories; reviews cite denials, freezes, hold friction
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.
Primis Business Checking
Primis Bank (FDIC Cert. 57968) offers a digital trio: Unlimited (1% debit cash-back), Pro (1.75% APY), Business Savings (4.00% APY), each $1 to open and $0 monthly. Fee schedule (12/1/2025) prices outgoing wires at $5/$35 despite 'no fees' marketing. Channel limits bind before item fees: app ACH $18k/day and $100k/month. Savings auto-sweeps for up to $2M FDIC. Bill pay, positive pay, and cash-flow analytics included; not a full treasury stack. Strong yield-focused pick for modest-volume digital SMBs.