Bank of Internet USA Online Banking and Financial Blog

Information, Insights, and Expert Advice


Build Your Employee Benefits with Workplace Banking

Dec 28, 2016

Are you providing your employees with all the benefits they want? Have you thought about what else you could offer that would make your business stand out from the rest? 

Over the years, banking has become more difficult as the market players have increased and so have the product choices.  We also know that finding the right employees and keeping them is a difficult task in today’s competitive market. BofI is here to offer Workplace Banking to simplify matters for your employees and offer a great employee benefit at no cost to you. We offer clear product options and cutting edge technology to make banking simple and effective.


Workplace banking gives companies an opportunity to make banking simple for their employees. Setting up an account as they fill out the rest of their onboarding paperwork means you can get better direct deposit participation and ensures they receive their check instantly each pay period.

Partnering with an online workplace banking solution also lets your employees spend their time doing what they enjoy, not wasting time standing in line at their local branch.  We provide the right tools and technology – online banking, payment apps, mobile deposit, budgeting tools – everything your employees need to make smart financial choices.

With workplace banking, we have accounts designed for both your general employee population, as well as, for the more complex financial needs of your company executives.

Turnkey Service

Employees aren’t the only ones who will reap the rewards. Onboarding workplace banking, while providing a wealth of options for employees, comes at no additional cost to your business. 

We oversee the entire process, starting from your employee’s application.  Each company is assigned a dedicated workplace banking representative to help ensure you have a smooth process as you onboard each employee. If you’re having trouble, you can simply call your representative to assist you or your employee.

Workplace banking can improve employee satisfaction, cut payroll costs and boost direct deposit rates.

Making Banking Easier for Your Employees

BofI Federal Bank is proud to offer your current and future employees our leading checking account from our consumer brand Bank of Internet USA. Our Rewards Checking can earn your employees up to 1.25% APY1 with the added benefit of unlimited ATM reimbursements across the country. This award-winning product is one of the best accounts available.

Experience the convenience of banking on your terms with an online bank account that lets employees access their money at any time, from anywhere.

See what they can gain by enrolling in Bank of Internet USA’s Rewards Checking today:

Bank of Internet USA Rewards Checking

  • Earn Up To 1.25% APY1

  • Unlimited Domestic ATM Reimbursements

  • No Monthly Maintenance Fee

  • No Minimum Monthly Balance

They will also benefit by having unlimited access to our free Mobile App, budgeting tool FinanceWorks, and online money transferring system Popmoney.

See what we can do for your business. Get started by calling our Workplace Banking team today at 858-649-2678.


1 Rewards Checking Account allows you to control your interest rate reward based on the products/services used during the month. This is a tiered, interest earning variable rate account. All daily collected balances up to and including $150,000 will earn interest based on the combined rate rewards. All daily collected balances greater than $150,000 will not earn interest. Your interest rate can be as high as 1.25% based on the following combined rate rewards: direct deposits (not including intra-bank transfers from another account) totaling $1,000 or more each month will earn .4166%; at least ten (10) point-of-sale transactions per month using your Rewards Checking VISA Debit Card for normal everyday purchases with a minimum of $3 per transaction will earn .4166%; and fifteen (15) or more point-of-sale transactions per month using your Rewards Checking VISA Debit Card for normal everyday purchases with a minimum of $3 per transaction will earn .4166%. Qualifying transactions must post and clear the account during the monthly qualification cycle. Transactions may take one or more business days from the transaction date to post to the account. At the time of your statement cycle date we will determine the combined products and services used since the previous cycle date to determine the aggregate interest rate to apply to your current statement cycle. We will use the daily balance method to calculate the interest on your account. Please see our Schedule of Interest Rates on our Website for the current interest rates and annual percentage yield (APY).