At a glance

4.5

Bankrate Score

Checking

Savings

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Overview

FNBO Direct isn’t accepting new applications for either of its deposit accounts, according to an FNBO spokesperson. That noted, the bank 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.

Highlights

High APY
Free Checking

Overall

FNBO Direct is FNBO's online bank. It offers a checking account and a savings account nationwide, both of which offer a competitive APY. As an online-only bank, FNBO Direct doesn’t have physical branches you can visit, so you’ll need to be comfortable solely using ATMs to withdraw money. Moreover, the checking account doesn’t offer a checkbook; it’s a completely paperless experience, which may be a deal-breaker for some.

Pros

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.

Cons

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.
New applications for checking and savings accounts are currently paused.

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FNBO Direct banking products

5.0

/5

See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:

4.75%

5/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Minimum balance to earn interest:

$1.00

5/5

The lowest deposit amount an account must have before it can earn interest.

Monthly service fee:

$0.00

5/5

A monthly charge a financial institution deducts from an account if certain requirements are not met.

Minimum balance to avoid fee:

$0.00

5/5

The lowest balance an account must maintain in order to avoid a fee.

Access to funds:

Great

5/5

A procedure that allows an individual or organization to access and manage the funds of another account holder.

FNBO Direct savings overview

FNBO’s Direct High Yield Online Savings Account offers a competitive yield, but the bank isn’t accepting new applications at the moment. FNBO expects to accept applications again in early 2024, according to its website. Only $1 is needed to open the account, and there’s no monthly service fee. You’ll earn interest on all balances. Interest is compounded and credited monthly.

Pros

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.

Cons

There are limits to how much you can withdraw. For example, you can only withdraw up to $1,000 each day via an ATM.
The bank’s Next Day Transfer Service is limited to a transfer of up to $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.
New applications are currently paused.

Rate history for FNBO Direct's Savings account

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

FNBO Direct

APY

APY last updated between 7/3 and 7/9.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

FNBO Direct

APY

APY last updated between 7/3 and 7/9.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

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FNBO Direct checking overview

As with its savings account, new applications for FNBO Direct’s Online Checking Account are currently paused. Until now, the account has offered competitive yield. The account doesn’t have a checkbook. You can also use BillPay 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 and a $0.01 minimum balance to earn interest. 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.

Pros

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 or overdraft fees.
The checking account earns interest.

Cons

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.
Customers don’t have access to Zelle.
New applications are currently paused.

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Bank fees

Fee	Charged?
Overdraft fee	None
Non-sufficient funds fee	None
Monthly maintenance fees	None
Out-of-network ATM fee	None
Excessive transaction fee	None

About FNBO Direct

FNBO Direct, which is FDIC-insured, is the online division of FNBO, formerly the First National Bank of Omaha. Although FNBO has been around since 1857, FNBO Direct is a relatively new addition to the bank’s lineup of divisions.

Customer experience

Customer service. FNBO Direct is an online-only bank, and it doesn’t have any branches. Online accounts are accessible 24/7, and FNBO Direct customers have access to customer service by telephone 24/7.

Digital experience. FNBO Direct’s mobile app has received mediocre ratings in the Google Play and Apple App stores. Digital payments from the Online Checking Account can be made with Apple Pay or Samsung Pay.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	FNBO Direct APY APY last updated between 7/3 and 7/9. APY last updated between 7/3 and 7/9	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/02/2024	4.75%	0.57%
05/07/2024	4.75%	0.59%
04/02/2024	4.75%	0.58%
03/05/2024	4.75%	0.57%
02/27/2024	4.75%	0.58%
01/02/2024	5.15%	0.58%
12/05/2023	5.15%	0.57%
11/07/2023	5.15%	0.60%
10/03/2023	5.15%	0.58%
09/12/2023	5.15%	0.57%
08/30/2023	5.15%	0.54%

FNBO Direct Bank Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about FNBO Direct

FNBO Direct banking products

FNBO Direct savings overview

Pros

Cons

Rate history for FNBO Direct's Savings account

FNBO Direct checking overview

Pros

Cons

Bank fees

About FNBO Direct

Customer experience

Review methodology

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