FNBO Direct Review

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As our world becomes increasingly digital, more consumers want online solutions for their financial needs. As a result, it’s no surprise that online banks have become incredibly popular.

FNBO Direct is one of the many online banks that customers can consider. Beyond offering features that most people will find useful, it has the added benefit of having the power of a national bank behind it.

Our FNBO Direct review will help you determine whether or not this bank is right for you.

What is FNBO Direct?

FNBO Direct is part of the First National Bank of Omaha family and operates as an online-only bank.

First National Bank of Omaha has served customers for more than 160 years but began offering services through FNBO Direct more recently.

Since FNBO Direct entered the banking scene, it has become a customer favorite. It has been voted one of the top banks for customer satisfaction as well as one of the best banks in America.

Who is FNBO Direct For?

FNBO Direct is ideal for customers who want the power of a major national bank with the benefits of an online-only bank. 

The company offers excellent features. These include interest-earning savings and checking accounts, a rewards credit card and more. 

As a result, FNBO Direct is great for anyone who wants a trustworthy online bank where they can earn interest and rewards.

However, the company is missing some of the features you might expect from a major bank. It also has lower interest rates on savings accounts than some of its competitors. 

If you are looking for a savings account with high interest rates or you need a bank that offers features like investment options, this may not be the bank for you.

How Much Does FNBO Cost?

Before you become an FNBO Direct customer, it’s important to be aware of the different costs you might incur.

To open an account, you must make an initial deposit of at least $1. The bank doesn’t require the high minimum balances that some financial institutions impose. 

FNBO Direct does not charge monthly maintenance fees on their accounts. Furthermore, if you use an Allpoint ATM or an ATM owned by FNBO, you won’t incur any fees.

Here are some of the fees you might be charged when banking with FNBO Direct:

Fee TypeCost
Overdraft$33
Return Item$33
Outgoing domestic wire transfer$15
Popmoney next-day delivery$10
Check issuance$5
ATM (out of network)Varies by ATM operator

FNBO Direct Features

Before opening an account with FNBO Direct, it’s important to know about the company’s features so you can decide if it’s the right bank for you.

Online Savings Account

FNBO Direct offers an online savings account that pays an interest rate of 0.35% APY. While this doesn’t seem like much, it’s substantially higher than the average bank savings account rate.

The account doesn’t require a minimum balance, and you won’t pay a monthly maintenance fee. You also only need $1 to open an account.

FNBO Direct makes it easy to access the money in your savings account. There are tools to easily transfer or send money to and from your account. 

For example, you can instantly transfer money to your FNBO Direct checking account and use Popmoney to send money to friends and family.

Online Checking Account

FNBO Direct offers an online checking account. Unlike many competitors, it pays interest on the money in your account at a rate of 0.15% APY.

This checking account doesn’t charge a monthly maintenance fee or require that you have a minimum balance. You only need $1 to open the account.

When you open your checking account, you’ll receive the FNBO Direct Visa Debit Card for your everyday purchases. You’ll also have access to many fee-free ATMs to access your money.

Other perks that FNBO Direct offers with its checking accounts include:

  • Free debit card monitoring
  • No-cost incoming wires
  • Free stop payments
  • Person-to-person payments

Digital Payments

You can link your FNBO Direct debit or credit card to any digital payment option for shopping in-store, in-app or online. 

Compatible digital payment platforms include Apple Pay, Samsung Pay and Visa Secure Remote Commerce.

This option makes it easy to spend without having your debit card with you. You can use mobile payments when shopping in person as well as online without having to enter your card number.

Person-to-Person Payments

FNBO Direct allows customers to send and receive money using Popmoney. You can send mobile and email payments to friends and family from your FNBO account. 

It’s even easy to receive money from others and have it deposited directly into your account.

These person-to-person payments provide a similar function as apps like Venmo and Zelle. They make it easy to split expenses with friends and family without having to carry cash or checks.

CDs

FNBO Direct offers multiple certificates of deposit to help customers save money. In many cases, you can earn significantly more interest than the company offers in its online savings accounts. 

These CDs offer guaranteed earnings and automatic renewal as well as the option to withdraw your entire balance at maturity.

The CDs and rates currently available are:

CD lengthInterest rate
6 months0.16%
9 months0.26%
12 months0.31%
18 months0.41%
24 months0.50%
36 months0.70%
48 months0.90%
60 months1.15%

Extra Earnings Visa Credit Card

In addition to deposit accounts, FNBO Direct also offers a Visa credit card to help you get even more out of your spending. 

The Extra Earnings Visa Credit Card is available to customers with an existing FNBO Direct checking or savings account. It offers 2X points per every dollar you spend during your first year. 

After the first year, you’ll continue to earn 1X points per dollar you spend. 

You can redeem your points by requesting a $25 deposit into your online savings or checking account for every 2,500 points you’ve earned.

The card doesn’t have an annual fee. It comes with a purchase and balance transfer interest rate of 13.24% APR.

FICO Score

FNBO Direct has teamed up with FICO to allow each of its customers to access their credit score at any time. 

Customers can see their FICO score from the FNBO Direct website and mobile app. Scores are updated roughly every 30 days.

Being able to track your FICO score can help you take action to improve your credit score and prepare to make a major purchase like buying a home or a car with bank financing.

Fraud Protection

FNBO Direct offers fraud protection to help you keep your identity safe. 

The company offers 24/7 monitoring on your credit card and will notify you as soon as they notice suspicious activity. Since you’re alerted right away, you can take action to report the fraud ASAP.

With their zero-liability program, you’ll never be liable for fraudulent transactions. You’ll also get free debit card fraud monitoring with your FNBO Direct debit card to catch unauthorized activity.

Calculators

FNBO Direct’s website has a variety of calculators to help you plan your financial life. 

Calculators offered include:

  • Auto loan calculators
  • Credit card calculators 
  • Home financing calculators 
  • Savings calculators 
  • Budgeting calculators
  • Home equity calculators
  • IRA calculators

These calculators aren’t just available for FNBO Direct customers. Anyone can access them on the website.

How to Open an Account

Opening an account with FNBO Direct is easy. To get started, visit the website and go to the type of account you’d like to open. You’ll notice a button that says “Apply Now.”

You’ll provide personal information on the application page, including:

  • Your Social Security number
  • A driver’s license number or state ID number
  • Your employment information
  • Information about current loans you have
  • Bank information to fund your account

When you apply, you can open both a savings and checking account at the same time or just choose one. After you’ve opened one account, there’s an expedited process to open another.

It won’t take more than a few minutes to complete the application and fund your account.

Keep in mind that to open an FNBO Direct credit card, you must be a bank customer. To take advantage of the rewards card, apply to open a checking or savings account. You can then complete the application for the credit card.

FAQs

Before you decide whether FNBO Direct is the right bank for you, here are some frequently asked questions to keep in mind.

Is FNBO Direct safe?

Yes, you can expect FNBO Direct to be as safe as any other online bank. The company follows strict security standards to help keep your information safe. 

They use protocols like security firewalls, data encryption and customer authentication tools.

FNBO also takes other steps to help you keep your money safe, including offering fraud protection on both credit and debit cards and refunding you for unauthorized transactions.

Additionally, FNBO Direct is FDIC insured.

What customer service options does FNBO Direct offer?

You can reach FNBO Direct customer service in a couple of ways, including calling their customer service line or sending an email. 

They also have a help center where you can find answers to frequently asked questions.

Is FNBO Direct worth it?

Whether FNBO Direct is worth it for you comes down to what you are looking for from an online bank. While the interest rates are higher than what some of the big-name banks offer, they aren’t the highest in the industry.

Fortunately, since the bank doesn’t charge fees for its services, there are minimal downsides to opening an account.

How can I determine if FNBO Direct is right for me?

To decide if FNBO Direct is the right option for you, you need to evaluate your needs. If you are looking for a checking account, savings account and credit card, the bank could be a great option for you.

However, if you are looking for the savings account with the highest interest rate or you need a bank that offers investment options, FNBO Direct might not be the solution for you.

What Others Are Saying

FNBO Direct has no ratings on Trustpilot. However, First National Bank of Omaha earned 3.2 out of 5 stars on the review site.

Here are what some current FNBO customers had to say:

“I have been with First National for years and they have always been wonderful to work with. They are easy to contact and their customer service agents are always friendly and knowledgeable. I only wish all of my other credit cards were this easy to work with. If you are looking for a real credit card that will help improve your credit rating I suggest this one.” -Laura

“I had a credit card with First National Bank of Omaha. I was sent a pre approval from them about a few months ago started using the card and paying it off every month in perfect standing and all of a sudden one day my credit card was closed with absolutely no explanation. Horrible customer service awful company.” – Armine A.

FNBO Direct Alternatives

If you think an FNBO Direct alternative might be better for your banking needs, here are some other online banks that may be worth considering.

BankAccountsMonthly FeesInterest Rates
FNBO DirectChecking and savings accounts, credit cardNoneUp to 1.15%
Axos BankChecking and savings accounts, CDsNoneUp to 1.25%
CIT BankChecking and savings accounts, CDs, home loansNoneUp to 1.3%
LendingClub BankChecking and savings accounts, CDs, loansNoneUp to .25%

Axos Bank

Axos Bank offers multiple checking and savings accounts, making it popular in the world of online banking. They also offer CDs and Premier banking for customers with a high net worth.

The bank shines when it comes to checking accounts. Their Rewards Checking account offers an interest rate of up to 1.25%.

If your priority is a checking account with no fees and higher than average interest rates, Axos Bank could be the solution.

CIT Bank

With interest rates of up to 1.3% depending on your account type, CIT Bank is a well-known online bank. They offer checking and savings accounts as well as CDs.

CIT Bank also offers home loans, making it a good option for people who need more than just a basic bank account.

LendingClub Bank

If you are looking for a bank that offers a rewards checking account, LendingClub Bank may be the solution. They offer an account that provides 1% cash back on purchases made on your debit card.

The bank also has savings accounts, CDs and loans. These additional account types give LendingClub Bank a competitive advantage over FNBO Direct.

Summary

FNBO Direct is an online bank with some great perks, including interest-bearing checking and savings accounts as well as a rewards credit card. These features make it competitive with many of the best online banks.

However, there are a few considerations that may make you want to look elsewhere. Its low interest rates and lack of features other banks offer may mean it’s not the best option for you.

Overall, FNBO Direct might be a good solution if you just want basic banking features that will help you manage your money.