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FNBO Direct Bank Review 2022

Published March 2022 by René Bennett

AT A GLANCE
4.3

Bankrate Score

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Free Checking

High APYs

FNBO Direct is best for those who don’t need to write checks out of a checking account and who want an online savings account with a competitive yield.

  • Checking
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    5.0
  • Savings
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    4.4
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    UFB Direct

    Member FDIC

    MMA

    1.66 % APY

    $ 0

    Min. balance for APY

    Bask Bank

    Member FDIC

    Savings account

    1.61 % APY

    $ 0

    Min. balance for APY

    CIT Bank

    Member FDIC

    Savings account

    1.35 % APY

    $ 0

    Min. balance for APY

    Overall

    4.3

    Bankrate Score

    FNBO Direct is FNBO's online bank. It offers a checking account and a savings account nationwide.

    What we like

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

    • Both checking and savings accounts earn interest.

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

    • Checking account customers have access to a big ATM network.

    What we don't

    • FNBO Direct customers can't withdraw funds at an FNBO branch.

    • You can find other online banks that offer higher yields.

    • The checking account doesn’t include checks, which may not be suitable for some consumers.

    • Certificates of deposit and a money market account aren’t available.

    Checking accounts

    5.0

    Bankrate Score

    OTHER CHECKING OFFERS YOU MAY LIKE
    Citi

    Member FDIC

    Checking account

    0.01 % APY

    $ 50,000

    To open

    $ 50000

    To avoid fees

    FNBO Direct’s Online Checking Account offers a competitive yield. The account doesn’t have a checkbook, but it does allow funds transfers using Popmoney. You can also use bill pay to pay bills online. The account also comes with a Visa debit card for purchases.

    There are no monthly service fees on the account, and it requires only $1 to open. FNBO Direct doesn’t reimburse ATM fees incurred at out-of-network ATMs, but it’s part of the Allpoint network, which has more than 55,000 fee-free ATMs. You also won’t pay a fee for stop payments.

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

    What we like

    • There is no charge for incoming wires.

    • FNBO Direct is part of the Allpoint ATM network and doesn’t charge ATM fees for using an out-of-network ATM.

    • There is no charge for a stop payment.

    • There are no monthly service fees.

    • The account comes with a Visa debit card for purchases.

    What we don't

    • You can’t use checks with the Online Checking Account.

    • FNBO Direct doesn’t reimburse out-of-network ATM fees that other banks might charge for using their ATMs.

    • Popmoney standard transfers take three business days.

    Savings accounts

    4.4

    Bankrate Score

    FNBO Direct offers a competitive yield on its savings account. Only $1 is needed to open the account, and there’s no monthly service fee. You’ll earn interest on all balances. Interest is credited monthly.

    Customers can manage the account online or through the bank's mobile app, but not at a branch. The account can be used with Popmoney, a service for transferring funds directly to others.

    What we like

    • The Online Savings Account offers a competitive yield.

    • There is no minimum balance requirement.

    • The Online Savings Account doesn’t have a monthly maintenance fee.

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

    What we don't

    • There are limits to how much you can withdraw. For example, you can’t withdraw more than $100,000 on a business day or in a single transaction.

    • 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.

    Bank experience

    FNBO Direct is an online bank and it doesn’t have any branches. Customers can use Popmoney to transfer money to others. Digital payments from the Online Checking Account can be made with Apple Pay or Samsung Pay. Online accounts are accessible 24/7, and FNBO Direct customers have access to customer service by telephone, though hours of availability aren’t noted on its website.

    FNBO Direct’s mobile app has received mediocre ratings in the Google Play and Apple App stores.

    About FNBO Direct

    FNBO Direct is the online division of FNBO, formerly the First National Bank of Omaha. Even though FNBO Direct accounts are offered through FNBO, FNBO Direct customers can't withdraw money with an FNBO branch teller.

    FNBO Direct has two personal accounts, and both earn interest: a checking account and a savings account. They are available to residents in all 50 states. Online Checking Account customers can use the Allpoint ATM network, which includes 55,000 surcharge-free ATMs. FNBO Direct also offers mobile banking and the ability to send person-to-person payments using Popmoney.

    René Bennett Twitter Created with Sketch. @

    René Bennett Twitter Created with Sketch. @

    René Bennett is a writer for Bankrate, equipping readers with the knowledge they need for best saving practices. He reports on personal finance and, as someone coming out of college, understands how difficult it can be to make choices about money, so he endeavors to make navigating those choices as straightforward as possible. With a background in writing and a bachelor’s degree in English from New York University, René is devoted to balancing clarity of style with accurate and informative content in his reporting. He has written on a number of topics, from savings accounts to roller coasters.