Is Bank of Internet really legit?

[KTP]

I decided to sign up for Bank of Internet advantage savings (paying 2.25%). After doing the online part, I was told they would send me some paperwork requiring a signature. I just received this today, but it looks very cheesy...almost like it was printed on a cheap inkjet. Certainly none of the feel of Wells Fargo. It is making me a bit nervous considering I was planning on depositing 25,000 with them.

Do any of you have accounts with them? Are they really on the up and up? I guess since they are traded on nasdaq and are fdic insured....

Madoff traded on nasdaq....

[poundwise]

Besides being FDIC insured and being listed on NASDAQ, you can find information on them from Bauer, an organization who rates financial institutions. You can also research their SEC filings, etc.

Bank of Internet has been around since 1999, which is much longer than most online banks.

There is nothing to indicate that they aren't perfectly legit.

[Russell]

I just moved my money to smartypig.com - the interface is different since it's goal oriented but they're paying 2.75%

[poundwise]

I just moved my money to smartypig.com - the interface is different since it's goal oriented but they're paying 2.75%

SmartyPig is the site/savings program. The bank behind it is West Bank of Des Moines, IA.

FYI: West Bank is also FDIC insured and listed on NASDAQ.