FNBO Direct is the online-only banking division of First National Bank of Omaha. The online bank offers checking and savings accounts with competitive rates and no monthly maintenance fees.

Like many online banks, FNBO Direct has no physical branches. This bank is geared toward consumers who prefer to do their banking from smartphones or computers.

This review focuses on FNBO Direct’s banking products and services. Here’s a detailed look at what this bank offers and how it compares to similar online banks. Account details and annual percentage yields (APYs) are accurate as of April 25, 2024.

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Account Basics

Checking

FNBO Direct offers one checking account, the FNBO Direct Online Checking Account. This interest-bearing account earns 0.15% APY, quite a bit lower than what you can earn with some of the best checking accounts. FNBO Direct doesn’t charge fees for out-of-network ATM use, but you may get hit with third-party fees from other banks and ATM operators.  You don’t get paper checks with this account, nor can you order checks, but it comes with a debit card. There’s a $1 minimum deposit to open an account and no monthly maintenance fee. This checking account has full access to online and mobile banking.

There’s no fee for stop payment orders, incoming wires or overdraft fees. Domestic outgoing wires are $15 per withdrawal.

Savings

The Online Savings Account is FNBO’s only savings product. The account currently earns 4.75% APY, lower than what you can earn with some of the best high-yield savings accounts on the market.

Consumers can open an FNBO Online Savings account for as little as $1. The account carries no monthly maintenance fee and is accessible online or through FNBO’s mobile app. Outgoing domestic wire transfers cost $15 per withdrawal, and the bank doesn’t allow international transfers.

To access your money, you transfer money to your FNBO Direct checking account or transfer money to an external account.

Access on the Go

FNBO Direct accounts are accessible through its online and mobile banking services. Online services include account management, electronic transfers, bill pay and account alerts. If you use Quicken or QuickBooks, you can download FNBO Direct account info to those accounting software programs.

Customers have access to the same features through FNBO Direct’s mobile app, available for iOS and Android. You can also deposit checks using the app’s mobile check deposit feature. FNBO Direct’s app gets 3.7 out of 5 stars on the App Store and 3.9 out of 5 stars on Google Play.

Customers can link their FNBO Direct accounts to payment services like Apple Pay and Samsung Pay.

If you shop online, FNBO Direct provides an extra level of protection through Visa Secure Remote Commerce (Visa SRC). You can create a Visa SRC account to safely store your debit card information. Then, anytime you’re shopping online and see the Visa SRC button, you can use it to fill in your card info securely.

FNBO Direct grants customers access to over 2 million ATM locations worldwide. Out-of-network ATM use may result in a fee from the ATM operator.

Pros

  • Low minimum deposit requirements
  • No monthly maintenance fees
  • Doesn’t charge out-of-network ATM fees

Cons

  • Only one savings and checking account
  • You may find higher interest rates at other banks and credit unions

How FNBO Direct Bank Stacks Up

FNBO Direct may benefit individuals looking for basic online checking and savings accounts with minimal fees.

However, FNBO Direct’s interest rates are only somewhat competitive; you can find higher rates at other banks and credit unions. It also doesn’t offer the full scope of products and services that most banks offer.

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Frequently Asked Questions (FAQs)

Is FNBO Direct FDIC insured?

Yes, FNBO Direct is FDIC insured (FDIC #5452 ) under the umbrella of First National Bank of Omaha. The federal government insures banking products from FNBO Direct up to $250,000 per depositor, for each account ownership category. FDIC insurance protects your money in the event of a bank failure.

What is FNBO Direct?

FNBO Direct is the online-only branch of First National Bank of Omaha. Its products include high-yield checking and savings accounts.

Are FNBO and FNBO Direct the same?

FNBO Direct is the online-only division of First National Bank of Omaha (FNBO). FNBO Direct accounts are kept separate from FNBO accounts but are FDIC-insured under the umbrella of First National Bank of Omaha.