FNBO Direct Review: Savings

FNBO Direct has both a standout high-yield savings account but no way to deposit cash.
Profile photo of Margarette Burnette
Senior Writer
Profile photo of Tony Armstrong
Edited by Tony Armstrong
Lead Assigning Editor
Fact Checked

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

FNBO Direct
  • Savings
  • Customer experience

Overall institution rating

4.0

NerdWallet rating 
The bottom line:

FNBO Direct is the online-only bank division of First National Bank of Omaha. The savings account we reviewed has a rate well above the national average, and it has no monthly fees.

Best for: Those who want to avoid monthly fees and earn interest and aren’t likely to need in-person services.

Pros

  • No monthly fees.
  • 24/7 customer service by phone.

Cons

  • No branch access.
  • No cash deposits.

Full review

FNBO Direct

Savings

FNBO Direct Online Savings Account
FNBO Direct Online Savings Account

Savings

Member FDIC

4.5

/5
 NerdWallet rating 
APY
5.15%
With $1 min. balance for APY
Bonus
N/A

Editor’s note, Aug. 2024: The FNBO Direct Online Savings Account is not open to new customers, but according to the bank, the account should become available again soon.

FNBO Direct's online savings account, with its 5.15% annual percentage yield and no monthly fees, can be a decent place to park your money. The yield is much higher than the national average for a savings account, 0.46% APY, but it’s lower than what some other online savings accounts pay.

The minimum to open is just $1, which is far less than what many banks require.

Customer experience

3.5

NerdWallet rating 

Live customer support by phone is available 24/7, so you can talk to a real person at any time. To view account balances or statements, you can access your account via FNBO Direct's website and mobile apps.

The mobile apps get low to average ratings in the app stores.

To learn more about FNBO Direct’s brick-and-mortar division, read our review of First National Bank.

Methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.