Five thousand customers across the country have kissed traditional banking goodbye and logged onto a San Diego-based Internet bank to open accounts, 10News reported.

The Bank of Internet USA, also known as BofI, allows customers to access their accounts and conduct banking transactions 24 hours per day, seven days per week.

The bank officially opened for business on July 4, 2000, and grew from an initial $14 million investment to assets of over $150 million in the first year.

Customers are able to view their accounts and pay their bills with the click of a mouse.

"It's cut down the amount of time I spend banking from a few hours a month to just a few minutes a month," bank director Michelle Paulus said.

There is one ATM machine at the bank's single physical branch, which is located in Carmel Valley. Bank customers, however, can use any other bank's ATM machine and Bank of Internet will reimburse up to $10 in fees per month.

The bank charges no fees for accounts and uses the highest-level security available. The bank is also FDIC-insured.