FNBO Direct Bank Review 2021

Published March 2021 by Matthew Goldberg

AT A GLANCE
4.3

Bankrate Score

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Free Checking

High APYs

FNBO Direct is best for those that don’t need to write any checks out of a checking account and those looking for a competitive yield on an online savings account.

  • Savings
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    4.4
  • Checking
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    4.7
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.55 % APY

    1yr

    Term

    $ 500

    Min. deposit

    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.55 % APY

    1yr

    Term

    $ 500

    Min. deposit

    Overall

    4.3

    Bankrate Score

    FNBO Direct is First National Bank of Omaha’s online bank. It is an online bank that offers a checking account and a savings account in all 50 states.

    What we like

    • FNBO Direct doesn’t have monthly maintenance fees on its checking and savings accounts.

    • FNBO Direct offers interest on both its checking and savings accounts.

    • You only need $1 to open an Online Savings Account or an Online Checking Account.

    What we don't

    • FNBO Direct doesn’t have any bank branches. Its customers aren’t able to make a withdrawal at an FNBO branch.

    • There are some banks offering higher yields.

    • The checking account doesn’t have paper checks. So for those occasional times when you need to write a check, you might need to have another account or another method available.

    Savings accounts

    4.4

    Bankrate Score

    OTHER SAVINGS OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    The FNBO Direct Online Savings Account offers a competitive yield and it only requires $1 to open the account and it doesn’t have a monthly service fee.

    Popmoney is available for transferring money to others with this account. All you need is a penny to start earning interest in the FNBO Direct Online Savings Account.

    What we like

    • This account offers a competitive yield.

    • The Online Savings Account doesn’t have a minimum balance requirement.

    • FNBO Direct’s savings account doesn’t have a monthly maintenance fee.

    • You start earning interest on your first penny in the account.

    What we don't

    • You can’t withdraw or transfer more than $100,000 on a business day or in a single transaction. You’re also limited to withdrawing a maximum of $500,000 in any one month.

    • The bank’s Next Day Transfer Service is limited to a transfer of $3,000 in a business day, $3,000 in a single transaction or $10,000 in any one month.

    • The fee for an outgoing domestic wire transfer is $15.

    Checking accounts

    4.7

    Bankrate Score

    OTHER CHECKING OFFERS YOU MAY LIKE
    Quontic Bank

    Member FDIC

    Checking account

    1.01 % APY

    $ 100

    To open

    $ 0

    To avoid fees

    FNBO Direct’s Online Checking Account offers a competitive yield, for a checking account. While the account doesn’t have paper checks, it does offer Popmoney to transfer funds to others.

    FNBO Direct doesn’t reimburse ATM fees incurred at out-of-network ATMs. However, FNBO Direct is in the Allpoint network, which gives you access to more than 55,000 ATMs. You won’t pay a fee for stop payment at FNBO Direct.

    FNBO Direct Online Checking Account customers have access to virtual wallets such as Apple Pay or Samsung Pay.

    What we like

    • You can get free incoming wires.

    • FNBO Direct doesn’t charge ATM fees for using an out-of-network ATM.

    • Stop payments on checks are free.

    • FNBO is a part of the Allpoint network, which has access to 55,000 in-network ATMs.

    What we don't

    • You can’t use paper checks with this account.

    • FNBO Direct doesn’t reimburse ATM fees for using an out-of-network ATM.

    • There is a $10 service fee for a Popmoney transfer sent with next day delivery.

    • Popmoney standard transfers take three business days.

    Bank experience

    FNBO Direct is an online bank and it doesn’t have any branches. For transferring money to others, it does have Popmoney available. You can make digital payments with its checking account by using Apple Pay or Samsung Pay. FNBO Direct customers have 24/7 access to phone customer service.

    FNBO Direct has a 3.2 rating on Google Play and a 2.7 rating on iOS.

    About FNBO Direct

    FNBO Direct is an online bank. Its accounts are offered through First National Bank of Omaha. Even though the accounts are offered through FNBO, FNBO Direct customers aren’t able to withdraw money with an FNBO branch teller.

    It has two interest-bearing options: a checking account and a savings account. FNBO Direct is available to residents in all 50 states. The Online Checking Account is a part of the Allpoint ATM network, which allows account holders to access around 55,000 surcharge-free ATMs.

    Matthew Goldberg Twitter Created with Sketch. @MATTATBANKRATE

    Matthew Goldberg Twitter Created with Sketch. @MATTATBANKRATE

    Matthew Goldberg is a consumer banking reporter at Bankrate. He uses his banking and financial services experience to help readers with personal finance. Nearly his entire career has either been as a reporter or working in financial services, in banking and insurance. He’s been in financial services for more than a decade. His career includes being a banker in New York City. His reporting career includes working as a staff reporter at two daily newspapers. He earned his first newspaper bylines in 1998. He has been honored by both the Illinois Associated Press Editors Association and the Illinois Press Association. His writing has been featured online on MSN, the Miami Herald, the Houston Chronicle, the Omaha World-Herald, The Kansas City Star, the Arizona Daily Star, and appeared in Sports Illustrated On Campus, The Atlanta Journal-Constitution, The Buffalo News and other publications. Matthew’s radio experience includes being a weekly panelist on the SportsWriter’s show on WGEM AM ESPN 1440 in Quincy, Illinois. He was also an occasional co-host and call-in guest on WGEM SportsCenter. He’s also been a guest on other stations throughout the country. Matthew is currently a member of the Board of Governors at the Society for Advancing Business Editing and Writing (SABEW), which is the world's largest and oldest organization of business and financial journalists. He chairs the organization's training committee and is on the finance committee. He has previously served on conference planning committees and has been a Best in Business contest judge for the organization. Matthew earned a bachelor’s degree at Illinois State University and an MBA at William Paterson University. Media mentions CNBC CNBC Acorns + CNBC WGN Radio 720 in Chicago 1080 KRLD Dallas-Fort Worth