• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
APY GUY: Maximize Your Savings & Earnings

APY GUY: Maximize Your Savings & Earnings

MENUMENU
  • Saving and Spending
    • CDs
      • CD Rates Forecast 2022 – Will Rates Go Up in October and November?
      • Capital One CD Rates
      • Ally Bank CD Rates
      • Chase CD Rates
      • Citibank CD Rates
      • Discover Bank CD Rates
      • US Bank CD Rates
      • Fidelity CD Rates
      • Edward Jones CD Rates
      • Charles Schwab CD Rates
      • Navy Federal Credit Union CD Rates
      • Vanguard CD Rates
    • Savings
      • Best High Yield Online Savings Accounts for 2023
      • Affirm Savings
      • Aspiration Spend & Save
      • Bask Bank High Interest Savings
      • Citi Accelerate Savings
      • Citizens Access Online Savings Account – 2.35% APY!
      • Fitness Bank Savings Review – Now up to 3.60% APY!
      • LendingClub High Yield Savings – Now 2.75% APY!
      • Smarty Pig
      • Synchrony High Yield Savings Account – Now 2.45% APY!
      • UFB Direct Savings Account – Now 3.01% APY!
      • Alternatives to CDs and Savings
    • Checking & Debit
      • 25+ Best Debit Cards for Kids & Teens [December, 2022]
      • Best Bank Promotions & Cash Bonuses for 2022
      • Citibank Checking Account Bonuses
      • Huntington Bank Bonuses
      • PNC Bank Bonuses
      • Truist Bank Bonuses
      • Wells Fargo Checking Account Bonus
      • Chase First Banking
      • Fidelity Youth Account
      • Verizon Family Money
      • Copper Banking
      • BusyKid
      • Greenlight
  • Investing
    • Real Estate
      • Top 8 Real Estate Crowdfunding Platforms for 2022
      • Yieldstreet Review 2022 – 9.71% Avg Annual Returns
      • CrowdStreet
      • Fundrise Review: Compare Annual Returns vs Competitors
    • Stocks & More
      • Best Stock Screening Service
      • MotleyFool
      • Stansberry Research
      • Seeking Alpha
      • Zacks Investment Research
      • Citi Personal Wealth Management
      • Robinhood Cash Management
      • Fidelity Cash Management
You are here: Home / checking accounts / FNBO Direct Review – Up to 3.75% APY!

FNBO Direct Review – Up to 3.75% APY!

Written by: editorial staff
December 9, 2022

FNBO Direct is a division of First National Bank of Omaha that launched in 2006 with their online savings account that paid an APY (annual percentage yield) of 5.25% APY at the time. In honor of First National Bank of Omaha’s 150th year anniversary the following year in 2007, FNBO Direct bumped-up their online savings account rate to 6.00% APY and held it there for 150 days.

Today, while interest rates are again heating up to levels not seen since FNBO Direct’s inception, their online savings account rate is much lower at 3.75% APY.

Their other deposit account, the online checking account, also pays out an interest rate, but its yield is much lower at 0.15% APY.

That said, as rates in general rise throughout the country we would expect FNBO Direct’s variable-rate online savings account as well as their checking account to rise as well.

Both of these accounts are FDIC-insured and come with no maintenance fees.

To see if this online bank is right for you, continue reading our review below.

In this post you'll learn:

  • Online Savings Account Rate + Details
  • Savings Account Rate
  • Account Features
  • Account Drawbacks
  • Compounding and Crediting Interest
  • Checking Account Rate + Details
  • Account Features
  • Account Drawbacks
  • Final Thoughts
  • FAQ
  • What is FNBO Direct’s Routing Number?
  • How do I login to my FNBO Direct Account?

Online Savings Account Rate + Details

image credit: fnbodirect.com

All deposits held in an FNBO Direct account are federally insured by the FDIC up to the applicable limits. The FDIC insurance is held by the First National Bank of Omaha.

There is a minimum deposit requirement of just $1.00 to open their online savings account and a maximum balance allowance of $1m.

Savings Account Rate

Min. DepositAPY
$1.003.75%
APY = Annual Percentage Yield

To put this yield into perspective, the current national average for a savings account and a money market account sit at just 0.24% and 0.29% APY, respectively, according to FDIC data.

That said, there are a number of online savings accounts and money market accounts paying above the 3.60% APY mark following the FED’s most recent rate hike of 0.75% on November 2.

UFB Direct’s money market and online savings account both come with one of the highest yields on the market at 3.83% APY per the time of this writing.

Account Features

FNBO Direct’s online savings account comes with many standard features that you’d find with many online savings accounts and a few added benefits that aren’t typical with these types of accounts.

✅ Access and manage your accounts 100% online through FNBODirect.com or their native apps for IOS and Android.

✅ Make digital payments via Apple Pay, Samsung Pay or VISA SRC.

✅ Person to person payments can also be made from the account by using PopMoney. PopMoney service fees breakdown as follows:

  • Standard Transfer Fee: $0.00
  • Next Day Delivery Fees: $10.00
  • Check Issuance Fee (per item): $5.00

Account Drawbacks

🛑 No ATM card with just the savings account. You’ll need to open the checking account for ATM access. Read more about the checking account below.

🛑 Overdraft charges are $20 each and FNBO Direct may issue up to 4 per day. These may occur from automatic bill payments or ACH transfers and recurring payments.

🛑 No physical branches.

Compounding and Crediting Interest

Interest on your FNBO Direct online savings account is both compounded and credited monthly. This is a less frequent compounding schedule than many online savings accounts use which tend to compound interest daily (and credit monthly).

Checking Account Rate + Details

FNBO Direct’s checking account comes with a minimum deposit requirement of just $1.00 and a minimum balance requirement of $0.01 to earn the advertised APY. It also has a maximum balance allowance of $1m.

Min. BalanceAPY
$0.010.15%
APY = Annual Percentage Yield

To put this yield into perspective, the national average for an interest checking account sits at just 0.04% APY according to FDIC data.

Account Features

FNBO Direct’s online checking account come with the following features:

✅ Free VISA debit card for everyday purchases.

✅ Access to 2 million ATMs worldwide with no fees coming from FNBO Direct, however, ATM owners may impose surcharge fees.

✅ Person to person payments can also be made from the account by using PopMoney.

✅ Free debit card fraud monitoring.

✅ No incoming wire charges.

✅ Free stop payments.

Account Drawbacks

🛑 No physical branches and no paper checks.

🛑 Same overdraft charges of $20 each and FNBO Direct may issue up to 4 per day.

Final Thoughts

Although both of FNBO Direct’s accounts come with interest rates that beat the national average by considerable margins, much more competitive yields can be found through other online banks and nationally available credit unions.

The overdraft charges running up to potentially $80 per day is also excessive as many banks and credit unions have opted to forgo overdraft charges altogether.

FAQ

Still have questions regarding FNBO Direct and their two bank accounts?

You may contact them by phone at 877-370-3707 or see what other consumers are asking around the web along with our responses below.

What is FNBO Direct’s Routing Number?

FNBO Direct’s routing number is: 104000016

How do I login to my FNBO Direct Account?

If you know your username and password, you can login here.

ABOUT THE AUTHOR

editorial staff: A group of savers, investors, side-hustlers and entrepreneurs serve the editorial team with a combined 20 years experience in entrepreneurship, banking and blogging.
Read More

Filed Under: checking accounts, Online Savings Accounts Tagged With: FNBO Direct

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

APY Updates

  • Will CD Rates Go Up in March and April 2023?
    March 22, 2023
  • Fifth Third Bank CD Rates – Now up to 4.50% APY!
    March 22, 2023
  • Charles Schwab CD Rates – Now up to 5.35% APY!
    March 21, 2023
  • Citibank CD Rates – Now up to 5.39% APY!
    March 20, 2023
  • Mountain America Credit Union CD Rates – Up to 4.60% APY!
    March 20, 2023
  • Bask Bank Review – Rates now up to 4.85% APY!
    March 20, 2023
  • Citizens Access CD Rates – Now up to 4.75% APY!
    March 17, 2023

The Big Banks

  • Bank of America CD Rates
  • Capital One CD Rates
  • Citibank CD Rates
  • Chase Bank CD Rates
  • Wells Fargo CD Rates
  • U.S. Bank CD Rates

Noteworthy Credit Unions

  • Navy Federal Credit Union CDs and Savings
  • Patelco Credit Union CDs and Savings
  • PenFed CDs and Savings
  • Connexus Credit Union CDs and Money Market

Brokered CDs

  • Edwards Jones
  • Charles Schwab
  • Fidelity
  • Vanguard

Alternatives

  • 12 Alternatives to CDs and Savings Accounts

Real Estate Investment Platforms

  • Yieldstreet - Avg 10.61% Returns

Footer

Disclaimer

APY GUY strives to keep its information as accurate and up to date as possible. This information may be different than what you see at a bank, credit union or other financial institution. This applies to both in person visits and their website(s). Any financial products or services represented or discussed on this website are without warranty. When evaluating offers viewed on APYGUY.com, please read the financial institution’s Terms and Conditions.

About Us. Privacy Policy. Terms Of Use. How We Make Money.

Categories

Connect with Us:

  • Email
  • Facebook
  • LinkedIn
  • Twitter

Know of a fantastic APY offered by your local bank or credit union?

Don’t be shy, please share!

Send an email to hello@apyguy.com with the name of the institution, rate (APY) and type of product.

Our editorial staff will confirm the product, rate and APY (annual percentage yield) with the institution and publish it immediately for our viewers.

Copyright © 2023 - APYGUY: Maximize Your Savings & Earnings

Home>checking accounts>FNBO Direct Review – Up to 3.75% APY!